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Fulton Bank N.A. Sells 307 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Defense World · Sep 18, 2022 06:12

Fulton Bank N.A. lowered its holdings in OneMain Holdings, Inc. (NYSE:OMF – Get Rating) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,072 shares of the financial services provider's stock after selling 307 shares during the period. Fulton Bank N.A.'s holdings in OneMain were worth $339,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Lindbrook Capital LLC raised its position in shares of OneMain by 66.3% in the 1st quarter. Lindbrook Capital LLC now owns 547 shares of the financial services provider's stock valued at $26,000 after buying an additional 218 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of OneMain by 129.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the financial services provider's stock valued at $33,000 after buying an additional 400 shares in the last quarter. AGF Investments LLC acquired a new position in shares of OneMain in the 1st quarter valued at approximately $34,000. Western Pacific Wealth Management LP acquired a new position in shares of OneMain in the 4th quarter valued at approximately $50,000. Finally, Quent Capital LLC acquired a new position in shares of OneMain in the 4th quarter valued at approximately $74,000. Institutional investors own 81.90% of the company's stock.

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Wall Street Analysts Forecast Growth

OMF has been the subject of several analyst reports. Wells Fargo & Company cut shares of OneMain from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $65.00 to $40.00 in a research report on Wednesday, July 13th. JMP Securities lowered their price objective on shares of OneMain from $68.00 to $58.00 and set a "market outperform" rating for the company in a research report on Friday, July 15th. BMO Capital Markets lowered their price objective on shares of OneMain from $58.00 to $50.00 in a research report on Monday, August 1st. Royal Bank of Canada lowered their price objective on shares of OneMain from $62.00 to $51.00 and set an "outperform" rating for the company in a research report on Tuesday, August 2nd. Finally, Piper Sandler lowered their price objective on shares of OneMain from $70.00 to $63.00 and set an "overweight" rating for the company in a research report on Wednesday, June 29th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $57.91.

Insider Activity

In other news, CEO Douglas H. Shulman acquired 1,150 shares of OneMain stock in a transaction dated Monday, August 1st. The shares were bought at an average cost of $37.08 per share, with a total value of $42,642.00. Following the purchase, the chief executive officer now owns 337,936 shares in the company, valued at approximately $12,530,666.88. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.28% of the company's stock.

OneMain Stock Performance

Shares of NYSE OMF opened at $35.04 on Friday. OneMain Holdings, Inc. has a 52-week low of $33.71 and a 52-week high of $60.38. The firm has a 50 day moving average price of $37.72 and a two-hundred day moving average price of $41.42. The stock has a market cap of $4.33 billion, a P/E ratio of 4.26 and a beta of 1.60.

OneMain (NYSE:OMF – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.03). OneMain had a net margin of 22.43% and a return on equity of 37.61%. The business had revenue of $887.00 million during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company posted $2.66 earnings per share. Analysts predict that OneMain Holdings, Inc. will post 7.52 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Monday, August 8th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 10.84%. The ex-dividend date was Friday, August 5th. OneMain's dividend payout ratio is currently 46.17%.

OneMain Profile

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