Eaton Vance Management increased its holdings in OneMain Holdings, Inc. (NYSE:OMF – Get Rating) by 12.9% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 56,549 shares of the financial services provider’s stock after buying an additional 6,451 shares during the quarter. Eaton Vance Management’s holdings in OneMain were worth $1,669,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the business. Point72 Hong Kong Ltd bought a new stake in shares of OneMain in the third quarter worth approximately $637,000. Cubist Systematic Strategies LLC grew its holdings in shares of OneMain by 209.4% in the third quarter. Cubist Systematic Strategies LLC now owns 124,020 shares of the financial services provider’s stock worth $3,661,000 after acquiring an additional 83,940 shares during the period. Renaissance Technologies LLC purchased a new stake in OneMain during the third quarter valued at $22,692,000. Moore Capital Management LP lifted its holdings in OneMain by 12.0% in the third quarter. Moore Capital Management LP now owns 131,386 shares of the financial services provider’s stock valued at $3,879,000 after acquiring an additional 14,070 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in OneMain by 12.9% in the third quarter. Nuveen Asset Management LLC now owns 715,564 shares of the financial services provider’s stock worth $21,123,000 after purchasing an additional 82,012 shares during the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of OneMain from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Credit Suisse Group upped their price objective on OneMain from $45.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 8th. Barclays lifted their target price on OneMain from $39.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 8th. Stephens raised their price objective on OneMain from $44.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Finally, TheStreet raised shares of OneMain from a “c+” rating to a “b-” rating in a report on Thursday, January 26th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, OneMain has an average rating of “Moderate Buy” and a consensus target price of $55.69.
OneMain Trading Up 0.6 %
OneMain (NYSE:OMF – Get Rating) last announced its quarterly 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. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. OneMain had a return on equity of 29.99% and a net margin of 19.10%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.38 earnings per share. As a group, equities research analysts forecast that OneMain Holdings, Inc. will post 6.56 earnings per share for the current fiscal year.
OneMain Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Friday, February 17th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 9.19%. This is an increase from OneMain’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 16th. OneMain’s dividend payout ratio is presently 56.82%.
OneMain Profile
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 Consumer and Insurance segment. The Consumer and Insurance segment offers services to secured and unsecured personal loans, voluntary credit, and non-credit insurance, and related products through its combined branch network, digital platform, and centralized operations.
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