Aristeia Capital L.L.C. Takes $375,000 Position in OneMain Holdings, Inc. (NYSE:OMF)

Aristeia Capital L.L.C. purchased a new position in OneMain Holdings, Inc. (NYSE:OMF) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,193 shares of the financial services provider’s stock, valued at approximately $375,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of OneMain by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 11,889,113 shares of the financial services provider’s stock worth $619,779,000 after acquiring an additional 40,042 shares in the last quarter. FMR LLC raised its holdings in OneMain by 14.3% in the fourth quarter. FMR LLC now owns 10,835,668 shares of the financial services provider’s stock worth $564,863,000 after purchasing an additional 1,352,604 shares in the last quarter. Capital International Investors lifted its position in OneMain by 2.1% during the fourth quarter. Capital International Investors now owns 10,238,425 shares of the financial services provider’s stock valued at $533,729,000 after buying an additional 211,745 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of OneMain by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,479,762 shares of the financial services provider’s stock valued at $181,402,000 after buying an additional 109,182 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of OneMain by 54.1% in the 4th quarter. Clearbridge Investments LLC now owns 2,885,961 shares of the financial services provider’s stock worth $150,445,000 after buying an additional 1,013,312 shares during the period. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Evercore ISI started coverage on shares of OneMain in a research note on Tuesday, March 25th. They set an “in-line” rating and a $58.00 price objective on the stock. Stephens restated an “overweight” rating and issued a $62.00 price target on shares of OneMain in a research note on Monday, February 3rd. JMP Securities reiterated a “market outperform” rating and set a $65.00 price objective on shares of OneMain in a research note on Wednesday. JPMorgan Chase & Co. cut their target price on OneMain from $58.00 to $46.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com raised OneMain from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.40.

Insider Transactions at OneMain

In other news, SVP Michael A. Hedlund sold 2,808 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $56.09, for a total value of $157,500.72. Following the transaction, the senior vice president now owns 15,831 shares in the company, valued at $887,960.79. This represents a 15.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas H. Shulman sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $47.49, for a total transaction of $1,187,250.00. Following the completion of the transaction, the chief executive officer now directly owns 343,925 shares in the company, valued at approximately $16,332,998.25. The trade was a 6.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,808 shares of company stock worth $3,344,751 in the last ninety days. Insiders own 0.45% of the company’s stock.

OneMain Stock Performance

NYSE OMF opened at $49.36 on Friday. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $58.90. The stock has a 50-day moving average of $47.50 and a 200 day moving average of $51.73. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.44 and a beta of 1.35.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.17. The firm had revenue of $188.00 million during the quarter, compared to analyst estimates of $1.16 billion. OneMain had a net margin of 10.19% and a return on equity of 18.39%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.45 earnings per share. On average, equities analysts predict that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $4.16 annualized dividend and a dividend yield of 8.43%. OneMain’s payout ratio is 98.11%.

About OneMain

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.