10 Best Dividend Stocks to Buy According to Billionaire Leon Cooperman

4. OneMain Holdings Inc. (NYSE:OMF)

Number of Hedge Fund Investors: 33

Billionaire Leon Cooperman’s Stake: $3,209,678

Baltimore, Maryland-based financial services company OneMain Holdings Inc. (NYSE:OMF) is one of the best dividend stocks to buy in 2024 according to billionaire Leon Cooperman. In April OneMain Holdings Inc. (NYSE:OMF) hiked its dividend by 4% and posted upbeat Q1 results. While the EPS of $1.29 missed estimates, OneMain Holdings Inc. (NYSE:OMF) bulls were quick to highlight the $0.27 restructuring charge. OneMain Holdings Inc. (NYSE:OMF) is looking to slash its operating expenses and optimize its cost structure.  Interest income in the first quarter rose by $80 million while interest expense saw an increase of $38 million. In the March quarter OneMain Holdings Inc. (NYSE:OMF) cut its long-term debt by $300 million to $19.52 billion. Despite rising interest rates and an uncertain market environment, OneMain Holdings Inc. (NYSE:OMF) has $8.3 billion in unencumbered receivables and $8 billion in untapped credit capacity.

 As of the end of the first quarter of 2024, 33 hedge funds tracked by Insider Monkey reported owning stakes in OneMain Holdings Inc. (NYSE:OMF). The biggest stake in OneMain Holdings Inc. (NYSE:OMF) is owned by Glenn Greenberg’s Brave Warrior Capital which owns a $341 million stake in OneMain Holdings Inc. (NYSE:OMF).

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.”