OneMain Holdings (OMF) Climbed with Smart Risk Management and 8% Dividend Yield

Patient Capital Management, a value investing firm, released its “Patient Capital Opportunity Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. During the quarter the strategy returned 17.6% net of fees compared to the S&P 500’s 11.7% return. The portfolio’s outperformance can be attributed to a three-factor model, where interaction, selection, and allocation effects all played a significant role. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Patient Capital Management featured stocks such as OneMain Holdings, Inc. (NYSE:OMF) in the fourth quarter 2023 investor letter. Headquartered in Evansville, Indiana, OneMain Holdings, Inc. (NYSE:OMF) is a financial service holding company. On January 30, 2024, OneMain Holdings, Inc. (NYSE:OMF) stock closed at $48.93 per share. One-month return of OneMain Holdings, Inc. (NYSE:OMF) was 1.35%, and its shares gained 12.72% of their value over the last 52 weeks. OneMain Holdings, Inc. (NYSE:OMF) has a market capitalization of $5.867 billion.

Patient Capital Management stated the following regarding OneMain Holdings, Inc. (NYSE:OMF) in its fourth quarter 2023 investor letter:

“OneMain Holdings, Inc. (NYSE:OMF) is a name we have owned for years. It’s a high return, well-managed franchise that has successfully navigated credit cycles for nearly a hundred years. The stock has continued to climb higher with prudent risk management and an 8% dividend yield.”

A bank manager signing off on a loan agreement to a business in her office.

OneMain Holdings, Inc. (NYSE:OMF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held OneMain Holdings, Inc. (NYSE:OMF) at the end of third quarter which was 26 in the previous quarter.

We discussed OneMain Holdings, Inc. (NYSE:OMF) in another article and shared Leon Cooperman’s long term stock picks. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.