Platinum Investment Management Ltd. Sells 617 Shares of OneMain Holdings, Inc. $OMF

Platinum Investment Management Ltd. decreased its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 10.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,104 shares of the financial services provider’s stock after selling 617 shares during the period. Platinum Investment Management Ltd.’s holdings in OneMain were worth $291,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in OneMain during the 1st quarter valued at approximately $27,000. SVB Wealth LLC bought a new position in OneMain during the 1st quarter valued at approximately $34,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in OneMain during the 1st quarter valued at approximately $42,000. Headlands Technologies LLC bought a new position in OneMain during the 1st quarter valued at approximately $46,000. Finally, GAMMA Investing LLC raised its position in OneMain by 191.9% during the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 662 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

OneMain Stock Down 1.1%

OneMain stock opened at $55.84 on Thursday. The company has a market capitalization of $6.64 billion, a P/E ratio of 10.08, a PEG ratio of 0.44 and a beta of 1.32. The stock’s 50 day moving average is $59.18 and its 200 day moving average is $54.00. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $63.24.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.20. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 EPS. As a group, equities analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were paid a $1.04 dividend. The ex-dividend date was Monday, August 4th. This represents a $4.16 annualized dividend and a dividend yield of 7.4%. OneMain’s dividend payout ratio is presently 75.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on OneMain from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Wells Fargo & Company assumed coverage on OneMain in a report on Monday, August 25th. They set an “equal weight” rating on the stock. Finally, Barclays upped their target price on OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.50.

Insider Buying and Selling at OneMain

In related news, CEO Douglas H. Shulman sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the sale, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. This represents a 11.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.40% of the stock is owned by insiders.

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.