Parallel Advisors LLC decreases its stake in OneMain Holdings, Inc. (NYSE:OMF)


Parallel Advisors LLC reduced its holdings of OneMain Holdings, Inc. stock (New York Stock Exchange: OMFGet a rating) by 31.0% in Q1, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The fund held 1,021 shares of the financial services provider after selling 459 shares during the quarter. Parallel Advisors LLC’s holdings in OneMain were worth $49,000 at the end of the most recent reporting period.

Other major investors have also recently changed their positions in the company. Lindbrook Capital LLC increased its position in OneMain shares by 66.3% during the 1st quarter. Lindbrook Capital LLC now owns 547 shares of the financial services provider valued at $26,000 after buying 218 additional shares in the last quarter. Western Pacific Wealth Management LP acquired a new stake in OneMain in Q4 worth approximately $50,000. Lazard Asset Management LLC increased its stake in OneMain by 19.1% in the fourth quarter. Lazard Asset Management LLC now owns 1,353 shares of the financial services provider worth $67,000 after acquiring 217 additional shares in the last quarter. Quadrant Capital Group LLC increased its stake in OneMain by 51.6% in Q4. Quadrant Capital Group LLC now owns 1,463 shares of the financial services provider worth $73,000 after acquiring 498 additional shares in the last quarter. Finally, Capital Advisors Ltd. LLC acquired a new stake in OneMain in Q4 worth approximately $74,000. 84.43% of the shares are held by hedge funds and other institutional investors.

OneMain trades down 0.4%

Shares of OMF opened at $41.29 on Friday. The company has a market capitalization of $5.17 billion, a PE ratio of 4.51 and a beta of 1.71. The stock has a 50-day moving average price of $40.16 and a 200-day moving average price of $45.65. OneMain Holdings, Inc. has a 12-month low of $34.22 and a 12-month high of $63.19.

OneMain(New York Stock Exchange: OMFGet a rating) last released its quarterly results on Thursday, April 28. The financial services provider reported earnings per share (EPS) of $2.36 for the quarter, beating consensus analyst estimates of $2.15 by $0.21. The company posted revenue of $794.00 million in the quarter, versus a consensus estimate of $1.02 billion. OneMain had a return on equity of 40.03% and a net margin of 25.60%. During the same quarter last year, the company posted EPS of $3.37. As a group, analysts predict OneMain Holdings, Inc. will post 8.49 earnings per share for the current year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 13. Investors of record on Monday, May 9 received a dividend of $0.95. The ex-dividend date was Friday, May 6. This represents a dividend of $3.80 on an annualized basis and a yield of 9.20%. OneMain’s payout rate is 41.53%.

Insider buying and selling

In other news, CEO Douglas H. Shulman bought 1,000 shares of the company in a deal that took place on Friday, May 20. The stock was purchased at an average price of $40.23 per share, for a total transaction of $40,230.00. As a result of the transaction, the CEO now directly owns 349,612 shares of the company, valued at approximately $14,064,890.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. In other news, CEO Douglas H. Shulman bought 1,000 shares of the company in a transaction that took place on Friday, May 20. The stock was purchased at an average price of $40.23 per share, for a total transaction of $40,230.00. As a result of the transaction, the CEO now directly owns 349,612 shares of the company, valued at approximately $14,064,890.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Additionally, CEO Douglas H. Shulman acquired 2,500 shares in a trade on Tuesday, May 10. The stock was purchased at an average price of $40.64 per share, with a total value of $101,600.00. As a result of the transaction, the CEO now directly owns 348,612 shares of the company, valued at approximately $14,167,591.68. Disclosure of this purchase can be found here. 0.13% of the shares are currently held by company insiders.

A Wall Street analyst gives his opinion

Several brokerage firms have recently weighed in on OMF. Compass Point reduced its price target on OneMain to $63.00 in a Monday, July 4 report. Barclays cut its price target on OneMain from $72.00 to $62.00 and set an “overweight” rating for the company in a Monday, July 11 report. Piper Sandler cut its price target on OneMain from $70.00 to $63.00 and set an “overweight” rating for the company in a Wednesday, June 29 report. Citigroup reduced its target price on OneMain from $72.00 to $54.00 in a Monday, May 2 report. To finish, StockNews.com began coverage on OneMain in a report on Thursday, March 31. They set a “buy” rating for the company. Five investment analysts gave the stock a hold rating and seven gave the stock a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.80.

About OneMain

(Get a rating)

OneMain Holdings, Inc, a financial services holding company, operates in the consumer finance and insurance industries. The company originates, underwrites and services personal loans secured by automobiles, other titled or unsecured collateral. The company also offers 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.

See also

Want to see which other hedge funds hold OMFs? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OneMain Holdings, Inc. (New York Stock Exchange: OMFGet a rating).

Institutional ownership by quarter for OneMain (NYSE:OMF)



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