OCO Capital Fully Exits OneMain Holdings, Reporting $31.35 Million Net Position Change
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Fool
- Stake Change: OCO Capital disclosed in a November 14 SEC filing that it fully sold its 550,000 shares in OneMain Holdings, resulting in an estimated net position change of $31.35 million, reflecting its strategy for managing portfolio concentration.
- Asset Allocation Adjustment: This sale reduced OneMain Holdings' position from 13.5% of fund assets to just three holdings, indicating OCO's prudent risk management after a strong performance.
- Company Performance: OneMain Holdings reported a diluted EPS of $1.67 in Q3, up 27.5% year-over-year, while managed receivables increased by 6% to $25.9 billion, showcasing improved credit trends and capital generation capabilities.
- Shareholder Returns: OneMain raised its quarterly dividend to $1.05 per share and authorized a new $1 billion buyback program, reflecting the company's proactive approach to capital allocation and shareholder returns.
Analyst Views on OMF
Wall Street analysts forecast OMF stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for OMF is 64.33 USD with a low forecast of 56.00 USD and a high forecast of 72.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
5 Buy
5 Hold
0 Sell
Moderate Buy
Current: 67.960
Low
56.00
Averages
64.33
High
72.00
Current: 67.960
Low
56.00
Averages
64.33
High
72.00
About OMF
OneMain Holdings, Inc. is a financial services holding company. The Company provides personal loan products; offers auto financing; offers credit cards; offers optional products; offers a customer-focused financial wellness program; services loans, and acquisitions and dispositions of assets and businesses. It provides origination, underwriting, and servicing of personal loans, primarily to nonprime customers. In addition, the Company offers two credit cards, BrightWay and BrightWay+, through a third-party bank partner. The Company offers optional credit insurance products, such as credit life insurance, which provides for payment to the lender of the finance receivable in the event of the borrower’s death; credit disability insurance, which provides scheduled monthly loan payments to the lender during a borrower’s disability due to illness or injury, and credit involuntary unemployment insurance, which provides scheduled monthly loan payments during involuntary unemployment.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
