Amalgamated Bank Buys 17,570 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Posted by Defense World Staff on Jun 6th, 2023

Amalgamated Bank increased its stake in shares of OneMain Holdings, Inc. (NYSE:OMF – Get Rating) by 82.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,794 shares of the financial services provider’s stock after acquiring an additional 17,570 shares during the quarter. Amalgamated Bank’s holdings in OneMain were worth $1,292,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OMF. JPMorgan Chase & Co. boosted its position in shares of OneMain by 43.2% during the first quarter. JPMorgan Chase & Co. now owns 200,354 shares of the financial services provider’s stock worth $9,500,000 after acquiring an additional 60,428 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in OneMain by 106.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,392 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 6,898 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in OneMain during the first quarter valued at $534,000. Bank of Montreal Can lifted its position in OneMain by 72.6% during the first quarter. Bank of Montreal Can now owns 49,082 shares of the financial services provider’s stock valued at $2,336,000 after purchasing an additional 20,646 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new position in OneMain during the first quarter valued at $104,000. Institutional investors own 84.29% of the company’s stock.

OneMain Price Performance

OMF stock opened at $40.94 on Tuesday. The company has a market capitalization of $4.94 billion, a PE ratio of 6.65 and a beta of 1.69. OneMain Holdings, Inc. has a 12 month low of $28.77 and a 12 month high of $46.99. The firm’s 50-day moving average is $37.31 and its 200 day moving average is $38.36.

OneMain (NYSE:OMF – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $1.46 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.13). The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $864.65 million. OneMain had a return on equity of 25.93% and a net margin of 17.03%. During the same period in the prior year, the business earned $2.36 EPS. Sell-side analysts forecast that OneMain Holdings, Inc. will post 6.07 EPS for the current fiscal year.

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, May 5th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 9.77%. The ex-dividend date of this dividend was Thursday, May 4th. OneMain’s dividend payout ratio (DPR) is 64.94%.

Analysts Set New Price Targets

Several equities analysts have commented on OMF shares. JPMorgan Chase & Co. lowered their price objective on shares of OneMain from $47.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, April 17th. Piper Sandler increased their price objective on shares of OneMain from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, February 8th. Credit Suisse Group increased their price objective on shares of OneMain from $45.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, February 8th. Royal Bank of Canada increased their price objective on shares of OneMain from $48.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 13th. Finally, Citigroup increased their target price on shares of OneMain from $39.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, OneMain presently has a consensus rating of “Moderate Buy” and an average price target of $50.15.

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.