Key Points
- Insider sale: OneMain SVP Michael Hedlund sold 652 shares on Nov. 26 at an average price of $62.00 for $40,424, leaving him with 15,179 shares (a 4.12% reduction in his position).
- Dividend raised: OneMain increased its quarterly dividend to $1.05 ($4.20 annualized), yielding about 6.7% and up from the prior $1.04 payout (payout ratio ~71.2%).
- Mixed quarterly results: OneMain reported Q3 EPS of $1.90, beating estimates of $1.58, but revenue missed at $747 million versus a $1.24 billion consensus; analysts maintain a consensus "Moderate Buy" rating with a target near $62.63.
OneMain Holdings, Inc. (NYSE:OMF - Get Free Report) SVP Michael Hedlund sold 652 shares of OneMain stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $62.00, for a total value of $40,424.00. Following the transaction, the senior vice president directly owned 15,179 shares in the company, valued at approximately $941,098. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
OneMain Trading Up 0.4%
OMF stock opened at $62.28 on Tuesday. The company has a market capitalization of $7.33 billion, a P/E ratio of 11.24, a PEG ratio of 0.45 and a beta of 1.37. The business has a 50 day simple moving average of $57.87 and a 200-day simple moving average of $57.26. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $63.24.
OneMain (NYSE:OMF - Get Free Report) last released its quarterly earnings results on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.58 by $0.32. The firm had revenue of $747.00 million during the quarter, compared to the consensus estimate of $1.24 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. During the same quarter in the prior year, the firm earned $1.31 EPS. Research analysts predict that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.
OneMain Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 10th were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 6.7%. This is a positive change from OneMain's previous quarterly dividend of $1.04. The ex-dividend date was Monday, November 10th. OneMain's payout ratio is currently 71.19%.
Hedge Funds Weigh In On OneMain
Several hedge funds have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new stake in OneMain during the second quarter worth $611,102,000. Norges Bank purchased a new stake in shares of OneMain in the 2nd quarter worth about $85,541,000. Certuity LLC grew its stake in OneMain by 107.6% in the 3rd quarter. Certuity LLC now owns 1,930,792 shares of the financial services provider's stock valued at $109,013,000 after acquiring an additional 1,000,654 shares during the last quarter. Nuveen LLC purchased a new position in OneMain during the 1st quarter valued at about $48,282,000. Finally, Arrowstreet Capital Limited Partnership raised its position in OneMain by 57.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,965,244 shares of the financial services provider's stock worth $110,958,000 after acquiring an additional 713,670 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
OMF has been the topic of several recent research reports. Wells Fargo & Company initiated coverage on OneMain in a research report on Monday, August 25th. They issued an "equal weight" rating on the stock. Royal Bank Of Canada lifted their target price on OneMain from $68.00 to $70.00 and gave the company an "outperform" rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. boosted their target price on OneMain from $57.00 to $59.00 and gave the company a "neutral" rating in a report on Monday, November 3rd. Citigroup reaffirmed a "market outperform" rating on shares of OneMain in a report on Monday, November 24th. Finally, Wall Street Zen lowered shares of OneMain from a "buy" rating to a "hold" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $62.63.
View Our Latest Report on OMF
About OneMain
(
Get Free Report)
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.
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