WBI Investments LLC Cuts Stock Holdings in OneMain Holdings, Inc. $OMF

WBI Investments LLC reduced its position in OneMain Holdings, Inc. (NYSE:OMF) by 19.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,821 shares of the financial services provider’s stock after selling 4,304 shares during the period. WBI Investments LLC’s holdings in OneMain were worth $871,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of OneMain in the 1st quarter valued at about $27,000. SVB Wealth LLC purchased a new stake in shares of OneMain in the 1st quarter valued at $34,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of OneMain in the 1st quarter valued at $42,000. Headlands Technologies LLC acquired a new position in shares of OneMain in the 1st quarter valued at $46,000. Finally, GAMMA Investing LLC lifted its stake 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 purchasing an additional 662 shares during the period. 85.82% of the stock is currently owned by institutional investors.

OneMain Stock Performance

Shares of OMF opened at $60.78 on Thursday. The company’s 50-day simple moving average is $58.83 and its 200-day simple moving average is $52.99. OneMain Holdings, Inc. has a 1 year low of $38.00 and a 1 year high of $63.24. The stock has a market capitalization of $7.22 billion, a PE ratio of 10.97, a P/E/G ratio of 0.47 and a beta of 1.30.

OneMain (NYSE:OMF) last released its earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.20. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $1.02 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts predict that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 6.8%. The ex-dividend date was Monday, August 4th. OneMain’s dividend payout ratio is currently 75.09%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays boosted their price target 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. Wells Fargo & Company assumed coverage on shares of OneMain in a report on Monday, August 25th. They set an “equal weight” rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of OneMain from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.50.

Insider Activity at OneMain

In other OneMain news, COO Micah R. Conrad sold 4,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.02, for a total value of $232,080.00. Following the transaction, the chief operating officer directly owned 101,007 shares in the company, valued at $5,860,426.14. This represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas H. Shulman sold 35,000 shares of the firm’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 transaction of $2,081,450.00. Following the transaction, the chief executive officer owned 275,100 shares in the company, valued at approximately $16,360,197. This trade represents a 11.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,000 shares of company stock worth $3,715,340 over the last quarter. 0.40% of the stock is currently owned by insiders.

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.