Renaissance Technologies LLC Makes New $1.36 Million Investment in OneMain Holdings, Inc. (NYSE:OMF)

Renaissance Technologies LLC acquired a new position in shares of OneMain Holdings, Inc. (NYSE:OMF) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 28,000 shares of the financial services provider’s stock, valued at approximately $1,358,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in OneMain by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 12,317,755 shares of the financial services provider’s stock worth $629,314,000 after buying an additional 373,900 shares during the period. Capital International Investors lifted its position in shares of OneMain by 10.2% in the 1st quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock valued at $488,937,000 after acquiring an additional 889,387 shares in the last quarter. Brave Warrior Advisors LLC boosted its stake in OneMain by 21.1% in the 4th quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock worth $315,707,000 after purchasing an additional 1,118,166 shares during the period. Dimensional Fund Advisors LP grew its position in OneMain by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,288,643 shares of the financial services provider’s stock worth $159,465,000 after purchasing an additional 270,207 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in OneMain by 64.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,890,017 shares of the financial services provider’s stock valued at $96,561,000 after purchasing an additional 743,034 shares during the period. 85.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OMF. Deutsche Bank Aktiengesellschaft decreased their target price on OneMain from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their target price on OneMain from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of OneMain in a research report on Tuesday, September 24th. Royal Bank of Canada restated an “outperform” rating and set a $60.00 price target on shares of OneMain in a report on Tuesday, September 17th. Finally, Northland Securities boosted their target price on OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, OneMain presently has a consensus rating of “Moderate Buy” and an average price target of $55.25.

OneMain Stock Performance

OneMain stock opened at $47.05 on Friday. OneMain Holdings, Inc. has a 52 week low of $35.00 and a 52 week high of $54.94. The firm has a market capitalization of $5.64 billion, a PE ratio of 9.17, a PEG ratio of 0.81 and a beta of 1.56. The business’s 50-day simple moving average is $47.09 and its 200-day simple moving average is $48.63.

OneMain (NYSE:OMF) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.12. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. OneMain had a return on equity of 20.63% and a net margin of 12.33%. During the same period in the previous year, the company earned $1.01 earnings per share. Research analysts forecast that OneMain Holdings, Inc. will post 5.11 earnings per share for the current year.

OneMain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 8.84%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s dividend payout ratio (DPR) is presently 81.09%.

Insider Transactions at OneMain

In related news, COO Micah R. Conrad sold 886 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $50.00, for a total value of $44,300.00. Following the sale, the chief operating officer now owns 104,739 shares of the company’s stock, valued at $5,236,950. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Micah R. Conrad sold 1,614 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $50.00, for a total transaction of $80,700.00. Following the completion of the sale, the chief operating officer now owns 110,411 shares of the company’s stock, valued at approximately $5,520,550. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Micah R. Conrad sold 886 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total value of $44,300.00. Following the sale, the chief operating officer now directly owns 104,739 shares of the company’s stock, valued at $5,236,950. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,300 shares of company stock valued at $1,534,275. 0.45% of the stock is owned by corporate insiders.

OneMain Profile

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.