Mackenzie Financial Corp Sells 27,721 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Mackenzie Financial Corp lessened its holdings in OneMain Holdings, Inc. (NYSE:OMF) by 65.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,756 shares of the financial services provider’s stock after selling 27,721 shares during the period. Mackenzie Financial Corp’s holdings in OneMain were worth $721,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in OMF. Alpine Bank Wealth Management bought a new stake in shares of OneMain during the first quarter valued at approximately $27,000. GAMMA Investing LLC grew its position in shares of OneMain by 191.9% in the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 662 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of OneMain during the 1st quarter worth about $54,000. Fourth Dimension Wealth LLC acquired a new stake in OneMain in the 4th quarter worth about $57,000. Finally, Farther Finance Advisors LLC raised its position in shares of OneMain by 198.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,670 shares of the financial services provider’s stock valued at $82,000 after buying an additional 1,110 shares in the last quarter. 85.82% of the stock is owned by institutional investors.

OneMain Stock Up 0.3%

Shares of NYSE OMF opened at $56.41 on Thursday. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.44 and a beta of 1.29. The firm’s fifty day moving average is $56.05 and its 200 day moving average is $52.45. OneMain Holdings, Inc. has a 52 week low of $38.00 and a 52 week high of $60.33.

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

OneMain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date is Monday, August 4th. OneMain’s dividend payout ratio is currently 75.09%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OMF. Barclays boosted their target price on shares of OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price objective on shares of OneMain from $50.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. JMP Securities reiterated a “market outperform” rating and set a $65.00 target price on shares of OneMain in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company lifted their target price on shares of OneMain from $53.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Insider Buying and Selling

In related news, COO Micah R. Conrad sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total value of $261,050.00. Following the completion of the sale, the chief operating officer directly owned 108,007 shares in the company, valued at $5,639,045.47. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 275,100 shares in the company, valued at approximately $16,360,197. The trade was a 11.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,000 shares of company stock valued at $3,976,390 over the last quarter. Corporate insiders own 0.40% of the company’s stock.

OneMain Company 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.