Goldman Sachs Group Inc. Buys 596,455 Shares of OneMain Holdings, Inc. $OMF

Goldman Sachs Group Inc. boosted its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 47.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,855,709 shares of the financial services provider’s stock after purchasing an additional 596,455 shares during the period. Goldman Sachs Group Inc.’s holdings in OneMain were worth $125,353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Essex Financial Services Inc. increased its position in OneMain by 7.0% during the 4th quarter. Essex Financial Services Inc. now owns 4,221 shares of the financial services provider’s stock valued at $285,000 after buying an additional 277 shares in the last quarter. Core Wealth Advisors LLC bought a new position in OneMain during the 4th quarter valued at approximately $31,000. Norges Bank bought a new position in OneMain during the 4th quarter valued at approximately $100,312,000. Hillsdale Investment Management Inc. bought a new position in OneMain during the 4th quarter valued at approximately $58,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in OneMain by 242.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 13,118 shares of the financial services provider’s stock valued at $886,000 after buying an additional 9,283 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

OneMain Trading Down 2.5%

OneMain stock opened at $54.00 on Tuesday. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 0.41 and a beta of 1.24. The stock has a fifty day simple moving average of $55.44 and a two-hundred day simple moving average of $59.49. OneMain Holdings, Inc. has a 12 month low of $45.78 and a 12 month high of $71.93.

OneMain (NYSE:OMF) last posted its earnings results on Friday, May 1st. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.09. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.27 billion. OneMain had a return on equity of 24.24% and a net margin of 14.38%.The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 EPS. On average, equities research analysts forecast that OneMain Holdings, Inc. will post 7.38 EPS for the current fiscal year.

OneMain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 11th were issued a $1.05 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 7.8%. OneMain’s dividend payout ratio (DPR) is presently 62.50%.

Insider Activity at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction on Friday, April 17th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the chief operating officer owned 101,250 shares of the company’s stock, valued at $6,075,000. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on OMF shares. Wells Fargo & Company reduced their price objective on OneMain from $70.00 to $65.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on OneMain from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 4th. TD Cowen reaffirmed a “buy” rating on shares of OneMain in a research report on Monday, May 4th. Royal Bank Of Canada reduced their price objective on OneMain from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of OneMain in a research report on Thursday, April 16th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, OneMain currently has an average rating of “Moderate Buy” and an average price target of $68.30.

OneMain Company Profile

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.