OneMain Holdings, Inc. $OMF Shares Purchased by Cooperman Leon G

Key Points

• Cooperman Leon G increased its stake in OneMain Holdings, Inc. by 187.7% during Q1, now holding 889,000 shares valued at approximately $43.45 million.
• Recent insider sales include CEO Douglas H. Shulman selling 35,000 shares for over $2 million, resulting in an 11.29% decrease in his position.
• Wells Fargo & Company initiated coverage on OneMain with an "equal weight" rating, while Barclays and JPMorgan Chase upgraded their price targets on the stock to $56.00 and $63.00 respectively.

Cooperman Leon G lifted its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 187.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 889,000 shares of the financial services provider's stock after acquiring an additional 580,000 shares during the quarter. OneMain accounts for about 1.7% of Cooperman Leon G's portfolio, making the stock its 19th largest position. Cooperman Leon G owned 0.75% of OneMain worth $43,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in shares of OneMain during the first quarter worth $27,000. SVB Wealth LLC purchased a new position in OneMain in the first quarter valued at $34,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in OneMain in the first quarter valued at $42,000. Headlands Technologies LLC purchased a new position in OneMain in the first quarter valued at $46,000. Finally, GAMMA Investing LLC increased its holdings in 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 buying an additional 662 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

Insider Activity

In other news, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the completion of the sale, the chief executive officer owned 275,100 shares in the company, valued at approximately $16,360,197. This represents a 11.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Micah R. Conrad sold 3,000 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $60.00, for a total transaction of $180,000.00. Following the sale, the chief operating officer owned 98,007 shares of the company's stock, valued at $5,880,420. This trade represents a 2.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,000 shares of company stock valued at $3,715,340 in the last quarter. Insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. JPMorgan Chase & Co. increased their target price on OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Wells Fargo & Company assumed coverage on OneMain in a report on Monday, August 25th. They issued an "equal weight" rating on the stock. Finally, Barclays increased their target price on OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, OneMain presently has an average rating of "Moderate Buy" and a consensus price target of $61.50.

OneMain Stock Performance

Shares of OMF stock traded up $0.56 during mid-day trading on Thursday, hitting $62.59. 706,369 shares of the stock were exchanged, compared to its average volume of 748,840. The stock's fifty day simple moving average is $58.57 and its two-hundred day simple moving average is $52.86. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 0.48 and a beta of 1.30. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $62.84.

OneMain (NYSE:OMF - Get Free Report) last announced its earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.20. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The business's quarterly revenue was up 7.1% compared to the same quarter last year. On average, research analysts expect that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were paid a dividend of $1.04 per share. The ex-dividend date was Monday, August 4th. This represents a $4.16 annualized dividend and a dividend yield of 6.6%. OneMain's dividend payout ratio is 75.09%.

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.