Insider Selling: OneMain Holdings, Inc. (NYSE:OMF) CEO Sells 20,000 Shares of Stock

OneMain Holdings, Inc. (NYSE:OMF) CEO Douglas H. Shulman sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $52.56, for a total value of $1,051,200.00. Following the transaction, the chief executive officer now owns 323,925 shares of the company’s stock, valued at approximately $17,025,498. This represents a 5.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

OneMain Stock Up 2.1%

Shares of OneMain stock opened at $53.66 on Thursday. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $58.90. The company’s 50 day moving average is $49.70 and its 200 day moving average is $51.57. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 0.45 and a beta of 1.31.

OneMain (NYSE:OMF) last released 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 return on equity of 19.30% and a net margin of 11.06%. The firm had revenue of $188.00 million for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm earned $1.45 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were given a $1.04 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $4.16 annualized dividend and a yield of 7.75%. OneMain’s payout ratio is 87.95%.

Institutional Investors Weigh In On OneMain

A number of large investors have recently made changes to their positions in OMF. Vanguard Group Inc. lifted its stake 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 purchasing an additional 40,042 shares during the period. FMR LLC raised its position 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 acquiring an additional 1,352,604 shares during the period. Capital International Investors boosted its stake in shares of OneMain by 2.1% during the 4th quarter. Capital International Investors now owns 10,238,425 shares of the financial services provider’s stock worth $533,729,000 after acquiring an additional 211,745 shares during the last quarter. Brave Warrior Advisors LLC boosted its stake in shares of OneMain by 0.5% during the 4th quarter. Brave Warrior Advisors LLC now owns 7,437,670 shares of the financial services provider’s stock worth $387,726,000 after acquiring an additional 35,448 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of OneMain by 7.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,736,070 shares of the financial services provider’s stock valued at $182,610,000 after acquiring an additional 256,308 shares during the period. 85.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Northland Capmk upgraded shares of OneMain from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Barclays set a $56.00 price objective on OneMain in a report on Friday, March 14th. JMP Securities reissued a “market outperform” rating and set a $65.00 price target on shares of OneMain in a research report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on shares of OneMain from $58.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Evercore ISI initiated coverage on OneMain in a research report on Tuesday, March 25th. They issued an “in-line” rating and a $58.00 price target on the stock. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.40.

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.