State of New Jersey Common Pension Fund D Decreases Position in OneMain Holdings, Inc. (NYSE:OMF)

State of New Jersey Common Pension Fund D reduced its position in shares of OneMain Holdings, Inc. (NYSE:OMF) by 37.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,366 shares of the financial services provider’s stock after selling 23,915 shares during the period. State of New Jersey Common Pension Fund D’s holdings in OneMain were worth $1,909,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of OneMain by 3.1% during the first quarter. Vanguard Group Inc. now owns 12,317,755 shares of the financial services provider’s stock worth $629,314,000 after purchasing an additional 373,900 shares in the last quarter. Capital International Investors grew its holdings in shares of OneMain by 10.2% during 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 in the last quarter. Brave Warrior Advisors LLC raised its position in shares of OneMain by 21.1% in the fourth 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 during the last quarter. Clearbridge Investments LLC lifted its stake in shares of OneMain by 64.8% in the first quarter. Clearbridge Investments LLC now owns 1,890,017 shares of the financial services provider’s stock worth $96,561,000 after buying an additional 743,034 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in OneMain by 36.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,366,621 shares of the financial services provider’s stock worth $67,238,000 after acquiring an additional 367,823 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on OMF. Deutsche Bank Aktiengesellschaft cut their price objective on shares of OneMain from $64.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. BTIG Research began coverage on OneMain in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Northland Securities raised their target price on OneMain from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Barclays reduced their price target on OneMain from $55.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $60.00 price objective on shares of OneMain in a research report on Tuesday, September 17th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, OneMain currently has an average rating of “Moderate Buy” and a consensus target price of $55.25.

OneMain Stock Down 2.1 %

Shares of NYSE OMF opened at $49.09 on Friday. OneMain Holdings, Inc. has a 52-week low of $35.00 and a 52-week high of $54.94. The business’s 50 day moving average is $48.23 and its two-hundred day moving average is $48.78. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 0.72 and a beta of 1.56.

OneMain (NYSE:OMF) last posted its earnings results 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 firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $918.74 million. OneMain had a return on equity of 20.63% and a net margin of 12.33%. During the same quarter in the prior year, the company earned $1.01 EPS. Analysts anticipate that OneMain Holdings, Inc. will post 5.2 EPS for the current fiscal year.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.47%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s dividend payout ratio (DPR) is currently 81.09%.

Insiders Place Their Bets

In other OneMain news, CEO Douglas H. Shulman sold 5,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the transaction, the chief executive officer now owns 417,474 shares in the company, valued at $20,873,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Douglas H. Shulman sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief executive officer now directly owns 417,474 shares of the company’s stock, valued at $20,873,700. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael A. Hedlund sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total transaction of $120,000.00. Following the completion of the sale, the senior vice president now directly owns 20,947 shares in the company, valued at approximately $1,047,350. The disclosure for this sale can be found here. Insiders have sold a total of 32,300 shares of company stock worth $1,534,275 in the last ninety days. 0.45% of the stock is owned by corporate insiders.

About OneMain

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.