Magnolia Capital Advisors LLC Makes New Investment in OneMain Holdings, Inc. (NYSE:OMF)

Magnolia Capital Advisors LLC acquired a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 139,409 shares of the financial services provider’s stock, valued at approximately $6,760,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in OneMain by 3.1% during the first quarter. Vanguard Group Inc. now owns 12,317,755 shares of the financial services provider’s stock valued at $629,314,000 after purchasing an additional 373,900 shares in the last quarter. Capital International Investors raised its stake in shares of OneMain by 10.2% in the first quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock worth $488,937,000 after buying an additional 889,387 shares during the period. Brave Warrior Advisors LLC lifted its position in shares of OneMain by 21.1% during the 4th quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock valued at $315,707,000 after buying an additional 1,118,166 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of OneMain by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,288,643 shares of the financial services provider’s stock valued at $159,465,000 after acquiring an additional 270,207 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in OneMain by 64.8% in the 1st quarter. Clearbridge Investments LLC now owns 1,890,017 shares of the financial services provider’s stock worth $96,561,000 after acquiring an additional 743,034 shares in the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

OneMain Trading Up 0.8 %

NYSE:OMF opened at $46.85 on Friday. The business’s 50-day moving average is $47.70 and its 200 day moving average is $48.71. OneMain Holdings, Inc. has a 12 month low of $35.00 and a 12 month high of $54.94. The company has a market capitalization of $5.61 billion, a P/E ratio of 9.13, a P/E/G ratio of 0.81 and a beta of 1.56.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.12. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $918.74 million. OneMain had a return on equity of 20.63% and a net margin of 12.33%. During the same period in the prior year, the firm earned $1.01 EPS. On average, research analysts forecast that OneMain Holdings, Inc. will post 5.11 earnings per share for the current year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 8.88%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s payout ratio is 81.09%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OMF. Barclays lowered their price target on shares of OneMain from $55.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Northland Securities lifted their target price on shares of OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. BTIG Research started coverage on OneMain in a research note on Friday, June 7th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised their price target on OneMain from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price objective on shares of OneMain in a research note on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.25.

Insider Buying and Selling at OneMain

In other news, SVP Michael A. Hedlund sold 2,400 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $46.00, for a total value of $110,400.00. Following the sale, the senior vice president now directly owns 25,747 shares in the company, valued at approximately $1,184,362. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Michael A. Hedlund sold 2,400 shares of OneMain stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $46.00, for a total value of $110,400.00. Following the completion of the transaction, the senior vice president now owns 25,747 shares in the company, valued at $1,184,362. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Micah R. Conrad sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $45.75, for a total value of $114,375.00. Following the sale, the chief operating officer now directly owns 117,025 shares in the company, valued at $5,353,893.75. The disclosure for this sale can be found here. Insiders sold 32,300 shares of company stock worth $1,534,275 over the last 90 days. 0.45% of the stock is owned by insiders.

OneMain Company Profile

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.