Key Points
- OneMain SVP Michael Hedlund sold 1,848 shares on June 29 at an average price of $62.00, totaling $114,576. The sale reduced his direct holdings by 12.34% to 13,127 shares and was executed under a pre-arranged Rule 10b5-1 plan.
- OneMain reported strong quarterly results, earning $1.95 per share versus the $1.86 estimate and generating $1.58 billion in revenue, above expectations. Revenue rose 6.7% year over year, and analysts currently expect full-year EPS of 7.35.
- The company recently paid a quarterly dividend of $1.05, equal to an annualized yield of 6.9%. Wall Street remains generally positive, with a consensus rating of Moderate Buy and a $68.30 price target.
OneMain Holdings, Inc. (NYSE:OMF - Get Free Report) SVP Michael Hedlund sold 1,848 shares of OneMain stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $62.00, for a total value of $114,576.00. Following the completion of the sale, the senior vice president directly owned 13,127 shares in the company, valued at approximately $813,874. The trade was a 12.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
OneMain Price Performance
Shares of OMF opened at $60.95 on Wednesday. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 0.46 and a beta of 1.24. OneMain Holdings, Inc. has a 1 year low of $45.78 and a 1 year high of $71.93. The business's 50 day simple moving average is $56.35 and its 200-day simple moving average is $59.02.
OneMain (NYSE:OMF - Get Free Report) last posted its earnings results on Friday, May 1st. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.09. OneMain had a net margin of 14.38% and a return on equity of 24.24%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the firm posted $1.72 earnings per share. OneMain's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, sell-side analysts expect that OneMain Holdings, Inc. will post 7.35 earnings per share for the current year.
OneMain Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 11th were issued a $1.05 dividend. The ex-dividend date was Monday, May 11th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 6.9%. OneMain's payout ratio is 62.50%.
Analyst Ratings Changes
A number of brokerages recently commented on OMF. Royal Bank Of Canada lowered their price target 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. TD Cowen restated a "buy" rating on shares of OneMain in a research report on Monday, May 4th. Wells Fargo & Company lowered their price objective on OneMain from $70.00 to $65.00 and set an "equal weight" rating for the company in a research note on Thursday, April 9th. Evercore set a $55.00 target price on OneMain in a report on Tuesday, March 17th. Finally, BTIG Research reissued a "neutral" rating on shares of OneMain in a research report on Thursday, April 16th. Eight 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 MarketBeat, OneMain has a consensus rating of "Moderate Buy" and a consensus price target of $68.30.
Read Our Latest Research Report on OneMain
Institutional Trading of OneMain
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of OneMain by 33.5% during the third quarter. JPMorgan Chase & Co. now owns 289,943 shares of the financial services provider's stock valued at $16,370,000 after buying an additional 72,688 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of OneMain by 24.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 259,803 shares of the financial services provider's stock worth $17,945,000 after acquiring an additional 50,521 shares during the last quarter. American Century Companies Inc. boosted its holdings in OneMain by 3.4% during the 3rd quarter. American Century Companies Inc. now owns 1,065,463 shares of the financial services provider's stock valued at $60,156,000 after acquiring an additional 35,126 shares during the period. Crossmark Global Holdings Inc. purchased a new position in OneMain during the 3rd quarter valued at $1,107,000. Finally, Dimensional Fund Advisors LP grew its position in OneMain by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,980,031 shares of the financial services provider's stock valued at $224,723,000 after acquiring an additional 63,774 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.
About OneMain
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
