Connor Clark & Lunn Investment Management Ltd. purchased a new stake in OneMain Holdings Inc (NYSE:OMF) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,800 shares of the financial services provider’s stock, valued at approximately $493,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Stifel Financial Corp raised its stake in OneMain by 14.1% in the 1st quarter. Stifel Financial Corp now owns 15,081 shares of the financial services provider’s stock valued at $448,000 after acquiring an additional 1,863 shares during the period. State of Alaska Department of Revenue raised its stake in OneMain by 41.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,780 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 2,280 shares during the period. Xact Kapitalforvaltning AB raised its stake in OneMain by 24.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 12,781 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 2,500 shares during the period. Legal & General Group Plc raised its stake in OneMain by 5.4% in the 1st quarter. Legal & General Group Plc now owns 50,582 shares of the financial services provider’s stock valued at $1,514,000 after acquiring an additional 2,607 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in OneMain by 3.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 70,885 shares of the financial services provider’s stock valued at $2,122,000 after acquiring an additional 2,648 shares during the period. Institutional investors and hedge funds own 91.92% of the company’s stock.
A number of equities research analysts recently weighed in on OMF shares. Zacks Investment Research cut OneMain from a “hold” rating to a “sell” rating in a research note on Wednesday, April 25th. ValuEngine cut OneMain from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Barclays set a $39.00 price objective on OneMain and gave the stock an “equal weight” rating in a research report on Friday, July 20th. Finally, BMO Capital Markets increased their price objective on OneMain from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. OneMain presently has a consensus rating of “Buy” and an average price target of $37.54.
In other news, SVP Michael A. Hedlund sold 2,500 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $35.41, for a total transaction of $88,525.00. Following the sale, the senior vice president now directly owns 7,644 shares of the company’s stock, valued at approximately $270,674.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Fortress Investment Group Llc sold 54,937,500 shares of the stock in a transaction on Monday, June 25th. The stock was sold at an average price of $26.00, for a total value of $1,428,375,000.00. The disclosure for this sale can be found here. Corporate insiders own 43.93% of the company’s stock.
OMF opened at $35.92 on Tuesday. The firm has a market cap of $4.84 billion, a PE ratio of 10.15, a P/E/G ratio of 0.96 and a beta of 2.68. OneMain Holdings Inc has a 52-week low of $23.68 and a 52-week high of $37.29.
OneMain (NYSE:OMF) last released its earnings results on Monday, July 30th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The company had revenue of $685.00 million for the quarter, compared to analyst estimates of $676.82 million. OneMain had a return on equity of 17.55% and a net margin of 6.41%. During the same period in the prior year, the firm posted $0.81 EPS. research analysts anticipate that OneMain Holdings Inc will post 4.97 earnings per share for the current year.
OneMain Holdings, Inc, through its subsidiaries, provides consumer finance and insurance products and services. The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing. It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.
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