Insider Selling: OneMain (NYSE:OMF) CEO Sells $3,933,575.00 in Stock

OneMain Holdings, Inc. (NYSE:OMF) CEO Douglas Shulman sold 57,500 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $68.41, for a total value of $3,933,575.00. Following the sale, the chief executive officer owned 174,100 shares in the company, valued at approximately $11,910,181. The trade was a 24.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

OneMain Stock Up 2.2%

Shares of OMF stock opened at $69.01 on Monday. The stock has a market cap of $8.12 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.38 and a beta of 1.33. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $70.17. The business has a fifty day simple moving average of $63.30 and a 200-day simple moving average of $59.86.

OneMain (NYSE:OMF) last released its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.58 by $0.32. The business had revenue of $747.00 million for the quarter, compared to analyst estimates of $1.24 billion. OneMain had a net margin of 13.15% and a return on equity of 22.70%. During the same period in the previous year, the firm earned $1.31 EPS. On average, sell-side analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 10th were given a $1.05 dividend. This is a boost from OneMain’s previous quarterly dividend of $1.04. This represents a $4.20 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Monday, November 10th. OneMain’s dividend payout ratio (DPR) is currently 71.19%.

Institutional Trading of OneMain

A number of hedge funds have recently added to or reduced their stakes in OMF. JPMorgan Chase & Co. increased its stake in shares of OneMain by 33.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 289,943 shares of the financial services provider’s stock valued at $16,370,000 after acquiring an additional 72,688 shares during the last quarter. Triumph Capital Management acquired a new position in OneMain during the third quarter worth approximately $379,000. Allworth Financial LP raised its stake in OneMain by 48.0% during the third quarter. Allworth Financial LP now owns 3,116 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 1,011 shares during the period. Swiss Life Asset Management Ltd purchased a new position in OneMain during the third quarter worth approximately $302,000. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of OneMain in the 3rd quarter valued at $970,000. 85.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OMF shares. JPMorgan Chase & Co. increased their target price on OneMain from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Truist Financial initiated coverage on OneMain in a research note on Monday, December 8th. They set a “buy” rating and a $75.00 price objective on the stock. Citizens Jmp dropped their price objective on OneMain from $70.00 to $68.00 and set a “market outperform” rating for the company in a research report on Monday, November 24th. Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a report on Monday, December 29th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of OneMain in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $64.00.

About OneMain

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.