Northwestern Mutual Wealth Management Co. Invests $724,000 in OneMain Holdings, Inc. $OMF

Northwestern Mutual Wealth Management Co. purchased a new position in OneMain Holdings, Inc. (NYSE:OMF) in the second quarter, Holdings Channel reports. The fund purchased 11,874 shares of the financial services provider’s stock, valued at approximately $724,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in OneMain during the 2nd quarter worth approximately $1,055,000. Fortress Financial Group LLC bought a new stake in shares of OneMain in the 2nd quarter valued at approximately $391,000. Evolve Private Wealth LLC acquired a new stake in shares of OneMain during the 2nd quarter valued at approximately $273,000. Westpac Banking Corp acquired a new stake in shares of OneMain during the 2nd quarter valued at approximately $183,000. Finally, Ieq Capital LLC bought a new position in OneMain during the second quarter worth $8,558,000. 85.82% of the stock is owned by institutional investors.

Insider Transactions at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $65.40, for a total value of $327,000.00. Following the completion of the sale, the chief operating officer owned 91,250 shares of the company’s stock, valued at $5,967,750. This represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael A. Hedlund sold 2,500 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total transaction of $160,000.00. Following the completion of the transaction, the senior vice president owned 10,627 shares of the company’s stock, valued at $680,128. This represents a 19.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 14,348 shares of company stock worth $911,576. Company insiders own 0.29% of the company’s stock.

OneMain Trading Up 0.0%

Shares of NYSE OMF opened at $63.25 on Thursday. OneMain Holdings, Inc. has a 12-month low of $45.78 and a 12-month high of $71.93. The company has a market cap of $7.28 billion, a PE ratio of 9.53, a P/E/G ratio of 0.48 and a beta of 1.21. The stock has a 50 day simple moving average of $61.57 and a 200-day simple moving average of $57.56.

OneMain (NYSE:OMF) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.26 by $0.05. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $1.45 EPS. Sell-side analysts forecast that OneMain Holdings, Inc. will post 7.11 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date was Monday, August 10th. OneMain’s payout ratio is currently 63.25%.

Analyst Upgrades and Downgrades

OMF has been the subject of a number of research reports. Citizens Jmp lifted their price objective on shares of OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. Evercore set a $66.00 price target on shares of OneMain in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of OneMain in a report on Friday, July 10th. TD Cowen boosted their price objective on shares of OneMain from $66.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada increased their price objective on shares of OneMain from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.40.

OneMain 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.