Investor Fully Sells OneMain in $31 Million Portfolio Exit Amid Steep Stock Run

Core Insights - OCO Capital Partners has fully exited its stake in OneMain Holdings, resulting in a net position change of approximately $31.35 million [2][3][7] Company Overview - OneMain Holdings is a financial service holding company focused on consumer finance and personal lending, operating around 1,400 branch offices across 44 states in the U.S. [7][9] - The company reported a total revenue of $4.87 billion and a net income of $705 million for the trailing twelve months (TTM) [5] - As of the latest report, OneMain's stock price was $67.79, reflecting a 30% increase over the past year, outperforming the S&P 500, which rose by about 17% in the same period [4] Financial Performance - In the third quarter, OneMain reported diluted earnings per share (EPS) of $1.67, an increase from $1.31 a year earlier, with managed receivables rising by 6% to $25.9 billion [11] - The company achieved net charge-offs that decreased year over year, and capital generation reached $272 million, indicating improved credit trends [11] - OneMain has increased its quarterly dividend to $1.05 per share and initiated a new $1 billion buyback program, replacing the previous authorization [12] Investment Implications - The exit by OCO Capital Partners appears to be a strategic move for portfolio concentration management rather than a fundamental negative outlook on OneMain [13] - The position previously accounted for approximately 13.5% of OCO's assets, and trimming this position after a strong performance can be seen as prudent risk management [13]