5 Stocks For Passive Income In 2022

1. OneMain Holdings, Inc. (NYSE:OMF)

Dividend Yield as of February 18: 7.23%

Number of Hedge Fund Holders: 41

OneMain Holdings, Inc. (NYSE:OMF) is a financial services company based in Indiana, operating consumer finance and insurance businesses. In Q3 2021, 41 hedge funds were bullish on OneMain Holdings, Inc. (NYSE:OMF), with combined stakes equaling $1.04 billion. Basswood Capital held a significant stake in the company, with 2.3 million shares worth $129 million.

On February 2, OneMain Holdings, Inc. (NYSE:OMF) announced its Q4 earnings, posting an EPS of $2.38, topping estimates by $0.03. The $1.02 billion revenue was up 3.44% year-on-year.

OneMain Holdings, Inc. (NYSE:OMF) declared on February 2 a $0.95 per share quarterly dividend, a 35.7% increase from its prior dividend of $0.70. The dividend was paid on February 18, to shareholders of record on February 14. OneMain Holdings, Inc. (NYSE:OMF) delivers a 7.23% dividend yield, and is one of the top stocks for passive income in 2022.

JPMorgan analyst Richard Shane lowered the price target on OneMain Holdings, Inc. (NYSE:OMF) on January 19 to $56 from $64 and kept an Overweight rating on the shares. The analyst reduced target multiples on consumer finance companies by 8%, on average. He views 2022 as a transition year and believes that the probability is shifting from 2023 earnings representing normalized earnings to 2023.

You can also take a look at Retirement Stock Portfolio: 10 Safe Tech Stocks To Consider and 10 Best Dividend Aristocrats to Buy for 2022. 

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