Crestline Management LP Acquires Shares of 49,184 OneMain Holdings, Inc. (NYSE:OMF)

Crestline Management LP acquired a new position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 49,184 shares of the financial services provider's stock, valued at approximately $2,564,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of OneMain by 395.9% during the 4th quarter. Wellington Management Group LLP now owns 2,249,762 shares of the financial services provider's stock valued at $117,280,000 after buying an additional 1,796,054 shares during the last quarter. Norges Bank purchased a new stake in OneMain during the fourth quarter valued at about $72,936,000. FMR LLC lifted its holdings in OneMain by 14.3% during the fourth quarter. FMR LLC now owns 10,835,668 shares of the financial services provider's stock valued at $564,863,000 after purchasing an additional 1,352,604 shares during the last quarter. Clearbridge Investments LLC boosted its position in OneMain by 54.1% during the fourth quarter. Clearbridge Investments LLC now owns 2,885,961 shares of the financial services provider's stock worth $150,445,000 after purchasing an additional 1,013,312 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in shares of OneMain in the fourth quarter worth about $46,195,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OMF shares. JPMorgan Chase & Co. lowered their target price on shares of OneMain from $58.00 to $46.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Barclays set a $56.00 target price on OneMain in a research report on Friday, March 14th. JMP Securities reaffirmed a "market outperform" rating and issued a $65.00 price target on shares of OneMain in a report on Wednesday, April 30th. Northland Securities upgraded shares of OneMain from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 8th. Finally, Evercore ISI assumed coverage on shares of OneMain in a report on Tuesday, March 25th. They issued an "in-line" rating and a $58.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, OneMain currently has an average rating of "Moderate Buy" and a consensus target price of $58.40.

Insiders Place Their Bets

In related news, CEO Douglas H. Shulman sold 40,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the sale, the chief executive officer now directly owns 368,925 shares of the company's stock, valued at $18,446,250. This trade represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael A. Hedlund sold 2,808 shares of OneMain stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $56.09, for a total value of $157,500.72. Following the transaction, the senior vice president now owns 15,831 shares of the company's stock, valued at approximately $887,960.79. This represents a 15.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,808 shares of company stock valued at $3,344,751. Company insiders own 0.45% of the company's stock.

OneMain Stock Up 1.5%

Shares of NYSE:OMF traded up $0.80 during trading on Tuesday, hitting $52.60. The stock had a trading volume of 277,569 shares, compared to its average volume of 1,038,674. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $58.90. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 0.44 and a beta of 1.28. The stock has a 50-day simple moving average of $47.21 and a two-hundred day simple moving average of $51.90.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.55 by $0.17. The business had revenue of $188.00 million during the quarter, compared to analysts' expectations of $1.16 billion. OneMain had a net margin of 10.19% and a return on equity of 18.39%. The business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.45 EPS. As a group, sell-side analysts forecast that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 7.91%. The ex-dividend date is Friday, May 9th. OneMain's payout ratio is 87.95%.

OneMain 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.