OneMain Holdings, Inc. (NYSE:OMF) recently saw a decrease in its holdings by investors, Wedge Capital Management L L P NC. According to the latest filing with the Securities and Exchange Commission (SEC), Wedge Capital Management L L P NC sold 198,088 shares of OneMain, amounting to a reduction of 26.8% during the second quarter of this year. As a result, the institutional investor now possesses 541,020 shares of the financial services provider’s stock.
The decreased holdings by Wedge Capital Management L L P NC represents about 0.45% ownership stake in OneMain Holdings. The total value of these shares was estimated at $23,637,000 as per the recent filing made with SEC.
OneMain Holdings also recently announced its quarterly dividend payment on August 11th, which was paid out to investors on record as of August 7th. While this news might be significant for shareholders, it is important to note that there are specific dates associated with dividend payments. Investors who were listed as shareholders on August 4th were eligible for the $1.00 dividend payout.
The indicated annualized dividend is $4.00 per share of OneMain Holdings stock, resulting in a yield of approximately 10.09%. This means that investors can expect an annual return on their investment equal to 10.09%, based on the current stock price and dividend payout.
It is worth mentioning that OneMain Holdings’ dividend payout ratio (DPR) currently stands at 75.05%. This figure indicates how much of the company’s earnings are allocated towards dividend payments to shareholders.
Overall, these developments in OneMain Holdings’ financial status demonstrate changes in investor interest and potential impacts on shareholder returns. As always, it is advisable for investors to carefully analyze such reports and filings before making any investment decisions or assumptions regarding future performance.
It will be interesting to observe how these changes affect the market value and overall performance of OneMain Holdings, Inc. as time progresses. Investors are encouraged to stay updated on the latest reports and disclosures made by the company in order to make informed decisions based on accurate and reliable data.
Disclaimer: The information provided in this article is based solely on public filings made by Wedge Capital Management L L P NC with the Securities and Exchange Commission (SEC). This article does not constitute financial advice nor should it be interpreted as a recommendation to invest in OneMain Holdings, Inc.
OneMain Holdings, Inc.
Updated on: 25/09/2023
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|Analyst / firm
Hedge Funds and Institutional Investors Drive Rise in OneMain Holdings Inc.’s Market Value as Analysts Offer Insights
In recent months, several hedge funds and institutional investors have made significant changes to their positions in OneMain Holdings, Inc. (NYSE:OMF), leading to a rise in the company’s market value and attracting the attention of research analysts.
JPMorgan Chase & Co., for instance, boosted its position in OneMain by an astonishing 43.2% during the first quarter of this year. The financial giant now owns approximately 200,354 shares of OMF stock, which are valued at around $9.5 million after acquiring an additional 60,428 shares in the last quarter alone. Similarly, Raymond James Financial Services Advisors Inc. skyrocketed their position by 106.2%, now holding 13,392 shares worth about $635,000 after purchasing an extra 6,898 shares.
Cambridge Investment Research Advisors Inc., eager to seize a potentially profitable opportunity, jumped on board as well by snatching up a new position in OneMain during the first quarter worth roughly $534,000. Bank of Montreal Can followed suit with a remarkable increase of their own – a staggering 72.6% boost – adding an additional 20,646 shares that currently amount to $2.34 million.
Lastly, MetLife Investment Management LLC took advantage of what they perceived as an advantageous undertaking and purchased fresh OMF holdings valued at $104,000 during the first quarter too.
It is noteworthy that aside from these hedge funds and institutional investors’ interest in OneMain Holdings Inc., Bloomberg.com highlights that such entities already collectively possess about 79.70% ownership stake in our valued financial services provider.
Given these recent developments surrounding OneMain Holdings Inc., research analysts have been keener than ever to share their insights into the company’s prospects moving forward. Stephens took center stage as they reiterated an “overweight” rating for OMF while assigning it a price objective of $60 per share.
Bank of America also chipped in with their coverage, offering a “buy” rating to OneMain in conjunction with a $49 price objective. This sentiment was echoed by StockNews.com, which placed its own “buy” recommendation on the company’s stock.
However, JMP Securities revised its projections down slightly, opting for a price objective range of $53 instead of the previous $55. On the other hand, Royal Bank of Canada took an optimistic stance by raising their price objective from $50 to $55 while labeling OneMain as an “outperform” entity.
With this influx of varying opinions and ratings from analysts, Bloomberg.com reveals that the consensus rating for OneMain Holdings Inc. stands at “Moderate Buy.” In addition to this favorable evaluation, analysts have set an average target price for OMF at around $50.31.
As we delve into current data regarding OneMain Holdings Inc., we find that shares opened at $39.66 on Friday – a notable figure given the company’s market cap of approximately $4.78 billion. The P/E ratio rests comfortably at 7.44 and demonstrates reasonable valuation relative to earnings growth potential, which carries a ratio of 1.25.
Investors must note that OMF boasts a beta of 1.71, indicating slightly higher volatility compared to the broader market average.
If we consider both high and low values over the past year for our diligent readers who wish to unearth trends, keep in mind that OneMain experienced a notable change – reaching lows of around $28.77 whilst hitting highs of about $48.64.
Regarding recent financial performance updates unveiled by OneMain Holdings Inc., it becomes apparent that there is room for improvement based on their reported quarterly earnings data. According to records from July 26th, OMF fell short with earnings per share (EPS) coming in at $1.01 – failing to meet analysts’ consensus estimate of $1.24 by $0.23.
During the same quarter last year, OneMain Holdings Inc. achieved notable success with an EPS of $1.87. Nevertheless, the company reported revenues of $1.12 billion, surpassing analysts’ expectations of $883.84 million.
While the firm’s net margin rests at a healthy 14.60% and return on equity stands strong at 22.23%, it is important for OneMain to improve its position moving forward to regain investor confidence and ensure sustainable growth in a rapidly changing financial landscape.
Equities research analysts have chimed in once again with their forecasts for OMF, projecting earnings per share of approximately $5.58 for the current fiscal year.
As we near the end of September 2023, OneMain Holdings Inc.’s performance will undoubtedly be closely watched by both investors and market watchers alike as they await updates and progress toward achieving these predicted results.