Truist Financial Corp Cuts Holdings in OneMain Holdings, Inc. (NYSE:OMF)

Truist Financial Corp reduced its position in OneMain Holdings, Inc. (NYSE:OMF) by 15.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 43,867 shares of the financial services provider’s stock after selling 7,920 shares during the period. Truist Financial Corp’s holdings in OneMain were worth $2,428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OMF. PNC Financial Services Group Inc. raised its position in shares of OneMain by 104.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 639 shares of the financial services provider’s stock worth $38,000 after buying an additional 327 shares during the period. HighTower Advisors LLC raised its position in shares of OneMain by 8.1% in the 2nd quarter. HighTower Advisors LLC now owns 5,958 shares of the financial services provider’s stock worth $356,000 after buying an additional 448 shares during the period. Citigroup Inc. raised its position in shares of OneMain by 30.7% in the 2nd quarter. Citigroup Inc. now owns 155,026 shares of the financial services provider’s stock worth $9,288,000 after buying an additional 36,423 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of OneMain by 5.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 22,538 shares of the financial services provider’s stock worth $1,350,000 after buying an additional 1,221 shares during the period. Finally, JustInvest LLC raised its position in shares of OneMain by 14.9% in the 2nd quarter. JustInvest LLC now owns 9,532 shares of the financial services provider’s stock worth $571,000 after buying an additional 1,235 shares during the period. 88.24% of the stock is currently owned by institutional investors and hedge funds.

OneMain stock opened at $54.74 on Friday. The stock has a market cap of $7.19 billion, a P/E ratio of 5.21 and a beta of 1.95. The stock has a 50 day moving average of $51.37 and a 200-day moving average of $55.56. OneMain Holdings, Inc. has a 52 week low of $44.45 and a 52 week high of $63.19.

OneMain (NYSE:OMF) last released its earnings results on Tuesday, October 19th. The financial services provider reported $2.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.07. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.03 billion. OneMain had a return on equity of 44.81% and a net margin of 30.87%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.19 EPS. Equities analysts forecast that OneMain Holdings, Inc. will post 10.74 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 9th. Investors of record on Tuesday, November 2nd were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 5.12%. The ex-dividend date was Monday, November 1st. OneMain’s dividend payout ratio (DPR) is presently 26.67%.

Several research analysts recently weighed in on the company. Barclays cut their target price on OneMain from $77.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday, January 10th. Seaport Research Partners began coverage on OneMain in a report on Thursday, December 2nd. They set a “neutral” rating on the stock. Seaport Res Ptn restated a “neutral” rating on shares of OneMain in a report on Thursday, December 2nd. JMP Securities lowered their price objective on shares of OneMain from $72.00 to $68.00 and set a “market outperform” rating for the company in a research report on Thursday, December 16th. Finally, Seaport Global Securities assumed coverage on shares of OneMain in a research report on Thursday, December 2nd. They issued a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, OneMain currently has a consensus rating of “Buy” and a consensus target price of $70.46.

In other news, CEO Douglas H. Shulman acquired 1,000 shares of OneMain stock in a transaction that occurred on Wednesday, November 17th. The shares were purchased at an average cost of $50.73 per share, for a total transaction of $50,730.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas H. Shulman acquired 2,250 shares of OneMain stock in a transaction that occurred on Tuesday, October 26th. The shares were purchased at an average price of $56.12 per share, for a total transaction of $126,270.00. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company’s stock.

About OneMain

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 & Insurance and Other segments. The Consumer and Insurance segment comprises of service secured and unsecured personal loans, voluntary credit and non-credit insurance, and related products through its combined branch network, digital platform, and centralized operations.

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Institutional Ownership by Quarter for OneMain (NYSE:OMF)

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