GAMMA Investing LLC Purchases 48,877 Shares of OneMain Holdings, Inc. (NYSE:OMF)

GAMMA Investing LLC increased its position in OneMain Holdings, Inc. (NYSE:OMF) by 14,167.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,222 shares of the financial services provider’s stock after purchasing an additional 48,877 shares during the quarter. GAMMA Investing LLC’s holdings in OneMain were worth $2,406,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of OneMain by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 11,889,113 shares of the financial services provider’s stock valued at $619,779,000 after buying an additional 40,042 shares in the last quarter. FMR LLC increased 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 purchasing an additional 1,352,604 shares during the period. Capital International Investors increased its position in OneMain by 2.1% in the fourth quarter. Capital International Investors now owns 10,238,425 shares of the financial services provider’s stock worth $533,729,000 after purchasing an additional 211,745 shares during the period. Brave Warrior Advisors LLC boosted its holdings in OneMain by 0.5% during the fourth quarter. Brave Warrior Advisors LLC now owns 7,437,670 shares of the financial services provider’s stock worth $387,726,000 after buying an additional 35,448 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in OneMain by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,479,762 shares of the financial services provider’s stock worth $181,402,000 after buying an additional 109,182 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total transaction of $261,050.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas H. Shulman sold 40,000 shares of the business’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $50.00, for a total value of $2,000,000.00. Following the transaction, the chief executive officer now owns 368,925 shares of the company’s stock, valued at approximately $18,446,250. The trade was a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,000 shares of company stock worth $3,448,300 over the last ninety days. 0.40% of the stock is currently owned by company insiders.

OneMain Stock Down 0.8%

Shares of OMF stock opened at $53.12 on Friday. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $58.90. The business has a fifty day simple moving average of $48.90 and a 200 day simple moving average of $51.69. The company has a market cap of $6.32 billion, a P/E ratio of 12.53, a P/E/G ratio of 0.44 and a beta of 1.31.

OneMain (NYSE:OMF) last issued 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 18.39% and a net margin of 10.19%. The company had revenue of $188.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were paid a $1.04 dividend. The ex-dividend date was Friday, May 9th. This represents a $4.16 annualized dividend and a dividend yield of 7.83%. OneMain’s payout ratio is presently 87.95%.

Analysts Set New Price Targets

Several research firms have recently weighed in on OMF. JMP Securities reiterated a “market outperform” rating and set a $65.00 price objective on shares of OneMain in a report on Wednesday, April 30th. Barclays set a $56.00 price target on OneMain in a research report on Friday, March 14th. Evercore ISI assumed coverage on OneMain in a research report on Tuesday, March 25th. They set an “in-line” rating and a $58.00 price target on the stock. Wells Fargo & Company lowered their price target on OneMain from $57.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 30th. Finally, Northland Securities raised OneMain from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, OneMain currently has a consensus rating of “Moderate Buy” and a consensus 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.