OneMain Holdings, Inc. (NYSE:OMF) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of OneMain Holdings, Inc. (NYSE:OMF) by 0.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,077,511 shares of the financial services provider’s stock after selling 3,748 shares during the quarter. Bank of New York Mellon Corp owned 0.90% of OneMain worth $52,669,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of OneMain during the 1st quarter worth $27,000. GAMMA Investing LLC boosted its stake in shares of OneMain by 191.9% during the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 662 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of OneMain during the 1st quarter worth $54,000. Fourth Dimension Wealth LLC bought a new stake in shares of OneMain during the 4th quarter worth $57,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of OneMain by 198.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,670 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 1,110 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other OneMain news, CEO Douglas H. Shulman sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $52.56, for a total transaction of $1,051,200.00. Following the transaction, the chief executive officer directly owned 323,925 shares in the company, valued at $17,025,498. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Micah R. Conrad sold 3,000 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $60.00, for a total value of $180,000.00. Following the transaction, the chief operating officer owned 98,007 shares in the company, valued at approximately $5,880,420. This trade represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,000 shares of company stock valued at $5,082,190. Insiders own 0.40% of the company’s stock.

OneMain Trading Down 1.5%

OMF opened at $58.89 on Friday. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.51 and a beta of 1.32. OneMain Holdings, Inc. has a 1 year low of $38.00 and a 1 year high of $60.12. The stock has a fifty day moving average price of $53.53 and a 200 day moving average price of $51.85.

OneMain (NYSE:OMF) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.17. The firm had revenue of $188.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. OneMain had a return on equity of 19.30% and a net margin of 11.06%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 earnings per share. As a group, sell-side analysts forecast that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, May 9th. This represents a $4.16 dividend on an annualized basis and a yield of 7.06%. OneMain’s payout ratio is 87.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays raised their price objective on OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Wells Fargo & Company reduced their price objective on OneMain from $57.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. raised their target price on OneMain from $50.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday. Northland Securities raised OneMain from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 target price on shares of OneMain in a research report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

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.