Allspring Global Investments Holdings LLC Grows Stock Position in OneMain Holdings, Inc. (NYSE:OMF)

Allspring Global Investments Holdings LLC grew its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 2.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 44,557 shares of the financial services provider’s stock after purchasing an additional 1,025 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in OneMain were worth $2,276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. bought a new position in shares of OneMain during the 4th quarter valued at approximately $36,000. Blue Trust Inc. grew its stake in shares of OneMain by 49.9% during the 4th quarter. Blue Trust Inc. now owns 730 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 243 shares during the period. ZRC Wealth Management LLC bought a new position in shares of OneMain during the 4th quarter valued at approximately $45,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of OneMain during the 4th quarter valued at approximately $47,000. Finally, Allworth Financial LP grew its stake in shares of OneMain by 25.4% during the 4th quarter. Allworth Financial LP now owns 1,339 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 271 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

OneMain Stock Performance

NYSE:OMF opened at $48.92 on Wednesday. The stock’s fifty day moving average is $49.28 and its 200 day moving average is $48.53. OneMain Holdings, Inc. has a fifty-two week low of $35.00 and a fifty-two week high of $53.65. The firm has a market capitalization of $5.86 billion, a PE ratio of 9.54, a PEG ratio of 0.72 and a beta of 1.58.

OneMain (NYSE:OMF) last released its earnings results on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.07. OneMain had a return on equity of 20.78% and a net margin of 13.29%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $907.93 million. During the same quarter last year, the firm posted $1.46 earnings per share. Equities analysts forecast that OneMain Holdings, Inc. will post 5.57 EPS for the current year.

OneMain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 10th were given a dividend of $1.04 per share. This is an increase from OneMain’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.50%. OneMain’s dividend payout ratio is presently 81.09%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OMF shares. Wells Fargo & Company boosted their price objective on OneMain from $48.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. BTIG Research initiated coverage on OneMain in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Royal Bank of Canada upped their price target on OneMain from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. upped their price target on OneMain from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, TD Cowen upped their price target on OneMain from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

Insider Transactions at OneMain

In other news, SVP Michael A. Hedlund sold 3,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $48.10, for a total transaction of $144,300.00. Following the transaction, the senior vice president now owns 28,147 shares of the company’s stock, valued at approximately $1,353,870.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Michael A. Hedlund sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.10, for a total transaction of $144,300.00. Following the sale, the senior vice president now owns 28,147 shares of the company’s stock, valued at $1,353,870.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Micah R. Conrad sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $50.63, for a total value of $379,725.00. Following the sale, the chief operating officer now directly owns 119,525 shares in the company, valued at approximately $6,051,550.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,500 shares of company stock valued at $1,500,055. 0.45% of the stock is currently owned by corporate insiders.

About OneMain

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.