Price T Rowe Associates Inc. MD Grows Stock Holdings in OneMain Holdings, Inc. (NYSE:OMF)

Posted by Defense World Staff on Mar 13th, 2023

Price T Rowe Associates Inc. MD raised its position in shares of OneMain Holdings, Inc. (NYSE:OMF – Get Rating) by 784.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,112,696 shares of the financial services provider’s stock after buying an additional 2,760,751 shares during the period. Price T Rowe Associates Inc. MD owned about 2.55% of OneMain worth $91,887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of OneMain by 0.4% during the first quarter. Vanguard Group Inc. now owns 12,428,932 shares of the financial services provider’s stock worth $589,256,000 after buying an additional 51,537 shares during the period. Capital International Investors boosted its position in shares of OneMain by 77.1% during the first quarter. Capital International Investors now owns 9,842,786 shares of the financial services provider’s stock worth $466,646,000 after buying an additional 4,284,232 shares during the period. BlackRock Inc. boosted its position in shares of OneMain by 3.9% during the third quarter. BlackRock Inc. now owns 5,420,306 shares of the financial services provider’s stock worth $160,009,000 after buying an additional 204,780 shares during the period. Brave Warrior Advisors LLC boosted its position in shares of OneMain by 86.2% during the third quarter. Brave Warrior Advisors LLC now owns 5,381,093 shares of the financial services provider’s stock worth $158,850,000 after buying an additional 2,491,819 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of OneMain by 5.9% during the first quarter. Wellington Management Group LLP now owns 3,126,854 shares of the financial services provider’s stock worth $148,244,000 after buying an additional 174,300 shares during the period. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

OneMain Price Performance

Shares of NYSE OMF opened at $38.24 on Monday. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 5.43 and a beta of 1.72. The business has a 50-day moving average of $41.56 and a two-hundred day moving average of $37.34. OneMain Holdings, Inc. has a 1 year low of $28.77 and a 1 year high of $50.80.

OneMain (NYSE:OMF – Get Rating) last posted its earnings results on Tuesday, February 7th. The financial services provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.06. OneMain had a return on equity of 29.99% and a net margin of 19.10%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the firm earned $2.38 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that OneMain Holdings, Inc. will post 6.39 earnings per share for the current year.

OneMain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Friday, February 17th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 10.46%. This is a boost from OneMain’s previous quarterly dividend of $0.95. OneMain’s payout ratio is 56.82%.

Analysts Set New Price Targets

OMF has been the subject of a number of recent research reports. Northland Securities lifted their target price on OneMain from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. JMP Securities lifted their target price on OneMain from $49.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. Credit Suisse Group lifted their target price on OneMain from $45.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. Citigroup lifted their target price on OneMain from $39.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 9th. Finally, Barclays lifted their target price on 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.69.

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 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.