Michael Hedlund Sells 1,848 Shares of OneMain (NYSE:OMF) Stock

OneMain Holdings, Inc. (NYSE:OMF) SVP Michael Hedlund sold 1,848 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $62.00, for a total transaction of $114,576.00. Following the sale, the senior vice president directly owned 13,127 shares of the company’s stock, valued at $813,874. The trade was a 12.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

OneMain Stock Down 1.2%

Shares of OneMain stock opened at $60.23 on Thursday. The company’s fifty day simple moving average is $56.36 and its two-hundred day simple moving average is $58.95. OneMain Holdings, Inc. has a 12-month low of $45.78 and a 12-month high of $71.93. The firm has a market cap of $6.96 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 0.45 and a beta of 1.21.

OneMain (NYSE:OMF) last posted its earnings results on Friday, May 1st. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.09. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.27 billion. OneMain had a net margin of 14.38% and a return on equity of 24.24%. OneMain’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.72 earnings per share. As a group, sell-side analysts expect that OneMain Holdings, Inc. will post 7.35 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 11th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $4.20 dividend on an annualized basis and a yield of 7.0%. OneMain’s dividend payout ratio is presently 62.50%.

Wall Street Analysts Forecast Growth

OMF has been the topic of a number of recent analyst reports. BTIG Research reiterated a “neutral” rating on shares of OneMain in a research report on Thursday, April 16th. TD Cowen reiterated a “buy” rating on shares of OneMain in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of OneMain from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Royal Bank Of Canada decreased their price objective on shares of OneMain from $73.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of OneMain from $63.00 to $55.00 and set an “underweight” rating for the company in a research report on Thursday, April 9th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.30.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Essential Partners LLC grew its stake in OneMain by 49.7% in the first quarter. Essential Partners LLC now owns 1,722 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 572 shares during the period. Ariadne Wealth Management LP lifted its position in OneMain by 7.3% during the first quarter. Ariadne Wealth Management LP now owns 3,763 shares of the financial services provider’s stock valued at $201,000 after buying an additional 255 shares during the period. Bank of America Corp DE boosted its holdings in shares of OneMain by 117.8% during the 1st quarter. Bank of America Corp DE now owns 843,912 shares of the financial services provider’s stock valued at $45,141,000 after buying an additional 456,470 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of OneMain by 7.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,729,862 shares of the financial services provider’s stock valued at $146,030,000 after buying an additional 195,591 shares in the last quarter. Finally, Bull Harbor Capital LLC purchased a new stake in shares of OneMain in the 1st quarter worth about $388,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

About OneMain

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.