The Manufacturers Life Insurance Company Purchases 16,117 Shares of OneMain Holdings, Inc. $OMF

The Manufacturers Life Insurance Company boosted its position in shares of OneMain Holdings, Inc. (NYSE:OMF) by 73.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 37,962 shares of the financial services provider’s stock after acquiring an additional 16,117 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in OneMain were worth $2,031,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in OMF. Kingsview Wealth Management LLC bought a new stake in shares of OneMain in the fourth quarter worth about $5,310,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in OneMain by 39.0% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 126,492 shares of the financial services provider’s stock valued at $8,553,000 after purchasing an additional 35,466 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of OneMain in the 1st quarter worth approximately $1,638,000. Asset Management One Co. Ltd. bought a new stake in shares of OneMain in the 4th quarter worth approximately $654,000. Finally, Illinois Municipal Retirement Fund increased its stake in shares of OneMain by 37.6% during the first quarter. Illinois Municipal Retirement Fund now owns 104,527 shares of the financial services provider’s stock valued at $5,591,000 after buying an additional 28,536 shares during the period. Institutional investors own 85.82% of the company’s stock.

Insider Transactions at OneMain

In other news, SVP Michael A. Hedlund sold 2,500 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,000.00. Following the sale, the senior vice president directly owned 10,627 shares of the company’s stock, valued at $680,128. This represents a 19.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total transaction of $327,000.00. Following the completion of the transaction, the chief operating officer owned 91,250 shares of the company’s stock, valued at approximately $5,967,750. The trade was a 5.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 14,348 shares of company stock worth $911,576 over the last ninety days. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

OMF has been the subject of a number of recent analyst reports. Truist Financial upped their target price on OneMain from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of OneMain in a report on Friday, July 10th. Barclays reduced their price objective on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 7th. Citizens Jmp raised their target price on shares of OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 30th. Finally, Evercore set a $66.00 target price on shares of OneMain in a research note on Monday, July 6th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.40.

OneMain Stock Performance

Shares of NYSE:OMF opened at $65.03 on Monday. The firm has a market capitalization of $7.48 billion, a P/E ratio of 9.79, a P/E/G ratio of 0.50 and a beta of 1.21. The stock has a 50 day moving average price of $59.43 and a 200-day moving average price of $57.61. OneMain Holdings, Inc. has a 52-week low of $45.78 and a 52-week high of $71.93.

OneMain (NYSE:OMF) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.05. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.28 billion. OneMain had a return on equity of 23.49% and a net margin of 13.92%.The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 earnings per share. On average, equities analysts forecast that OneMain Holdings, Inc. will post 7.12 EPS for the current fiscal year.

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 10th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Monday, August 10th. OneMain’s payout ratio is 63.25%.

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.