Hsbc Holdings PLC Takes $1.59 Million Position in OneMain Holdings, Inc. $OMF

Hsbc Holdings PLC bought a new position in shares of OneMain Holdings, Inc. (NYSE:OMF) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 25,988 shares of the financial services provider’s stock, valued at approximately $1,590,000.

A number of other institutional investors have also made changes to their positions in OMF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in OneMain during the first quarter worth $2,037,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of OneMain by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 442,598 shares of the financial services provider’s stock valued at $21,634,000 after purchasing an additional 9,067 shares during the period. Focus Partners Wealth lifted its stake in shares of OneMain by 101.8% during the 1st quarter. Focus Partners Wealth now owns 8,737 shares of the financial services provider’s stock worth $427,000 after buying an additional 4,407 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of OneMain by 32.9% during the 2nd quarter. Prudential Financial Inc. now owns 9,492 shares of the financial services provider’s stock worth $541,000 after buying an additional 2,350 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of OneMain by 26.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 19,644 shares of the financial services provider’s stock worth $1,119,000 after buying an additional 4,084 shares during the period. 85.82% of the stock is owned by institutional investors and hedge funds.

OneMain Price Performance

Shares of NYSE:OMF opened at $62.95 on Monday. The business’s 50 day simple moving average is $61.78 and its 200 day simple moving average is $57.58. OneMain Holdings, Inc. has a 1 year low of $45.78 and a 1 year high of $71.93. The company has a market capitalization of $7.24 billion, a P/E ratio of 9.48, a P/E/G ratio of 0.48 and a beta of 1.21.

OneMain (NYSE:OMF) last announced its quarterly earnings data 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. OneMain had a return on equity of 23.49% and a net margin of 13.92%.The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm earned $1.45 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that OneMain Holdings, Inc. will post 7.11 EPS for the current fiscal year.

OneMain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $4.20 annualized dividend and a yield of 6.7%. OneMain’s dividend payout ratio is currently 63.25%.

Insider Transactions at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer directly owned 91,250 shares in the company, valued at approximately $5,967,750. The trade was a 5.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael A. Hedlund sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $64.00, for a total transaction of $160,000.00. Following the sale, the senior vice president directly owned 10,627 shares of the company’s stock, valued at approximately $680,128. This trade represents a 19.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,348 shares of company stock worth $911,576 over the last quarter. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on OMF shares. Evercore set a $66.00 price target on shares of OneMain in a research note on Monday, July 6th. Truist Financial boosted their price objective on OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Royal Bank Of Canada upped their target price on OneMain from $70.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Citigroup reaffirmed a “market outperform” rating on shares of OneMain in a research report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research note on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.40.

About OneMain

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.