Assenagon Asset Management S.A. Makes New Investment in OneMain Holdings, Inc. $OMF

Key Points

• Assenagon Asset Management S.A. made a new investment in OneMain Holdings, Inc., purchasing 18,176 shares valued at approximately $1,036,000.
• Recently, CEO Douglas H. Shulman sold 35,000 shares of OneMain stock, decreasing his position by 11.29%, while insiders collectively sold 45,000 shares in the last quarter.
• OneMain announced a quarterly dividend of $1.04 per share, representing a 7.1% yield, and had an earnings per share of $1.45 for the last quarter, exceeding analyst expectations.

Assenagon Asset Management S.A. bought a new position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,176 shares of the financial services provider's stock, valued at approximately $1,036,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OMF. Alpine Bank Wealth Management acquired a new stake in shares of OneMain in the first quarter valued at approximately $27,000. SVB Wealth LLC acquired a new stake in shares of OneMain in the first quarter valued at approximately $34,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of OneMain in the first quarter valued at approximately $42,000. Headlands Technologies LLC acquired a new stake in shares of OneMain in the first quarter valued at approximately $46,000. Finally, GAMMA Investing LLC grew its position in shares of OneMain by 191.9% in the first 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 last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of OneMain stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total value of $2,081,450.00. Following the transaction, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. This trade represents a 11.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Micah R. Conrad sold 4,000 shares of OneMain stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.02, for a total transaction of $232,080.00. Following the completion of the transaction, the chief operating officer owned 101,007 shares in the company, valued at approximately $5,860,426.14. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,000 shares of company stock worth $2,664,140. 0.40% of the stock is owned by company insiders.

OneMain Stock Down 0.5%

Shares of OMF opened at $58.51 on Friday. The firm has a market cap of $6.96 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.46 and a beta of 1.30. The company's fifty day moving average is $59.27 and its two-hundred day moving average is $53.85. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $63.24.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. OneMain's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $1.02 EPS. As a group, equities research analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date was Monday, August 4th. OneMain's dividend payout ratio (DPR) is 75.09%.

Analysts Set New Price Targets

Several research firms have recently commented on OMF. Wells Fargo & Company began coverage on shares of OneMain in a research report on Monday, August 25th. They issued an "equal weight" rating on the stock. JPMorgan Chase & Co. raised their target price on shares of OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, Barclays raised their target price on shares of OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.50.

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.

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