Wedge Capital Management L L P NC Sells 54,317 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Wedge Capital Management L L P NC lessened its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 32.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,369 shares of the financial services provider’s stock after selling 54,317 shares during the period. Wedge Capital Management L L P NC owned 0.09% of OneMain worth $5,541,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in OMF. Wellington Management Group LLP lifted its holdings in shares of OneMain by 395.9% in the 4th quarter. Wellington Management Group LLP now owns 2,249,762 shares of the financial services provider’s stock valued at $117,280,000 after acquiring an additional 1,796,054 shares during the last quarter. Norges Bank bought a new position in shares of OneMain in the 4th quarter valued at about $72,936,000. FMR LLC lifted its holdings in shares of OneMain by 14.3% in the 4th quarter. FMR LLC now owns 10,835,668 shares of the financial services provider’s stock valued at $564,863,000 after acquiring an additional 1,352,604 shares during the last quarter. Clearbridge Investments LLC lifted its holdings 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 valued at $150,445,000 after acquiring an additional 1,013,312 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of OneMain in the 4th quarter valued at about $46,195,000. Institutional investors own 85.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on OMF shares. Wells Fargo & Company lowered their price target on shares of OneMain from $57.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Northland Securities raised shares of OneMain from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 8th. Evercore ISI initiated coverage on shares of OneMain in a research note on Tuesday, March 25th. They issued an “in-line” rating and a $58.00 price objective for the company. Wall Street Zen raised shares of OneMain from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Barclays set a $56.00 price objective on shares of OneMain in a research note on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.40.

OneMain Stock Performance

OneMain stock opened at $53.37 on Monday. The company has a 50 day moving average price of $48.21 and a 200-day moving average price of $51.72. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $58.90. The company has a market capitalization of $6.35 billion, a PE ratio of 12.59, a P/E/G ratio of 0.44 and a beta of 1.31.

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

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 7.79%. The ex-dividend date was Friday, May 9th. OneMain’s dividend payout ratio is presently 87.95%.

Insider Activity

In related news, CEO Douglas H. Shulman sold 25,000 shares of OneMain stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $47.49, for a total transaction of $1,187,250.00. Following the transaction, the chief executive officer now directly owns 343,925 shares of the company’s stock, valued at $16,332,998.25. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $52.21, for a total transaction of $261,050.00. Following the transaction, the chief operating officer now directly owns 108,007 shares in the company, valued at approximately $5,639,045.47. The trade was a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,000 shares of company stock valued at $3,448,300. Corporate insiders own 0.40% of the company’s stock.

OneMain Profile

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.