Dimensional Fund Advisors LP Reduces Holdings in OneMain Holdings, Inc. (NYSE:OMF)

Posted by Defense World Staff on Feb 24th, 2023

Dimensional Fund Advisors LP trimmed its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF – Get Rating) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,289,377 shares of the financial services provider’s stock after selling 62,773 shares during the period. Dimensional Fund Advisors LP owned about 1.87% of OneMain worth $67,585,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. US Bancorp DE increased its stake in shares of OneMain by 1.9% during the 3rd quarter. US Bancorp DE now owns 15,281 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 292 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in OneMain by 78.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 680 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 300 shares during the last quarter. JBF Capital Inc. boosted its position in OneMain by 4.5% during the second quarter. JBF Capital Inc. now owns 7,000 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 300 shares during the last quarter. Avitas Wealth Management LLC boosted its position in OneMain by 0.7% during the third quarter. Avitas Wealth Management LLC now owns 43,556 shares of the financial services provider’s stock worth $1,286,000 after acquiring an additional 323 shares during the last quarter. Finally, Seelaus Asset Management LLC boosted its position in OneMain by 2.4% during the third quarter. Seelaus Asset Management LLC now owns 15,751 shares of the financial services provider’s stock worth $465,000 after acquiring an additional 367 shares during the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OMF. Royal Bank of Canada raised their target price on shares of OneMain from $48.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, February 13th. Stephens raised their target price on shares of OneMain from $44.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. BMO Capital Markets lifted their price target on shares of OneMain from $36.00 to $43.00 and gave the company a “market perform” rating in a report on Wednesday, February 8th. JMP Securities lifted their price target on shares of OneMain from $49.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. Finally, Barclays lifted their price target on shares of OneMain from $39.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, February 8th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.69.

OneMain Trading Up 0.4 %

Shares of OMF stock opened at $43.46 on Friday. The company’s fifty day simple moving average is $39.58 and its 200-day simple moving average is $37.03. OneMain Holdings, Inc. has a 52 week low of $28.77 and a 52 week high of $51.51. The company has a market cap of $5.25 billion, a PE ratio of 6.17 and a beta of 1.73.

OneMain (NYSE:OMF – Get Rating) last issued its earnings results on Tuesday, February 7th. The financial services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.06. OneMain had a net margin of 19.10% and a return on equity of 29.99%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm posted $2.38 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts expect that OneMain Holdings, Inc. will post 6.56 EPS for the current fiscal year.

OneMain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Friday, February 17th will be paid a dividend of $1.00 per share. This is an increase from OneMain’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, February 16th. This represents a $4.00 annualized dividend and a yield of 9.20%. OneMain’s payout ratio is 56.82%.

OneMain Company Profile

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OneMain Holdings, Inc is a consumer finance company, which provides origination, underwriting and servicing of personal loans, primarily to non-prime customers. It operates through the following segments: Consumer & Insurance and Other segments. The Consumer & Insurance segment consists of service secured and unsecured personal loans, voluntary credit and non-credit insurance, and related products through its combined branch network, digital platform, and centralized operations.