Envestnet Asset Management Inc. Acquires 12,407 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Key Points

• Envestnet Asset Management Inc. increased its holdings in OneMain Holdings, Inc. by 15.6%, owning 92,189 shares valued at approximately $4.51 million as of its latest SEC filing.
• Notable recent sales by insiders include COO Micah R. Conrad selling 3,000 shares for $180,000, and CEO Douglas H. Shulman selling 20,000 shares for over $1 million, indicating a decrease in their ownership stakes.
• OneMain reported a quarterly EPS of $1.45, surpassing expectations, and announced a dividend of $1.04 to be paid on August 13, representing a 7.01% yield.

Envestnet Asset Management Inc. increased its position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,189 shares of the financial services provider's stock after buying an additional 12,407 shares during the period. Envestnet Asset Management Inc. owned 0.08% of OneMain worth $4,506,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in OMF. Raymond James Financial Inc. bought a new position in shares of OneMain during the fourth quarter valued at about $2,075,000. HighTower Advisors LLC boosted its stake in shares of OneMain by 41.5% in the 4th quarter. HighTower Advisors LLC now owns 17,775 shares of the financial services provider's stock worth $927,000 after buying an additional 5,217 shares during the last quarter. Xponance Inc. boosted its stake in shares of OneMain by 31.6% in the 4th quarter. Xponance Inc. now owns 5,655 shares of the financial services provider's stock worth $295,000 after buying an additional 1,357 shares during the last quarter. Sei Investments Co. boosted its stake in shares of OneMain by 34.9% in the 4th quarter. Sei Investments Co. now owns 11,148 shares of the financial services provider's stock worth $581,000 after buying an additional 2,886 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of OneMain in the 4th quarter worth approximately $1,288,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

OneMain Stock Performance

OneMain stock traded up $0.10 during mid-day trading on Tuesday, hitting $59.29. 163,926 shares of the company traded hands, compared to its average volume of 1,114,473. The stock has a fifty day moving average price of $55.20 and a 200-day moving average price of $52.29. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $60.33. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 0.47 and a beta of 1.32.

OneMain (NYSE:OMF - Get Free Report) last released 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. OneMain had a return on equity of 20.77% and a net margin of 12.63%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the business posted $1.02 earnings per share. The company's revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts predict that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th will be paid a dividend of $1.04 per share. The ex-dividend date is Monday, August 4th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.02%. OneMain's dividend payout ratio (DPR) is currently 75.09%.

Insider Transactions at OneMain

In other news, CEO Douglas H. Shulman sold 25,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $47.49, for a total transaction of $1,187,250.00. Following the transaction, the chief executive officer directly owned 343,925 shares of the company's stock, valued at approximately $16,332,998.25. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 5,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $52.21, for a total value of $261,050.00. Following the transaction, the chief operating officer directly owned 108,007 shares in the company, valued at $5,639,045.47. This trade represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,000 shares of company stock worth $3,082,190 over the last ninety days. Insiders own 0.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays upped their price objective on OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Northland Capmk upgraded OneMain from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. JMP Securities restated a "market outperform" rating and set a $65.00 target price on shares of OneMain in a research report on Wednesday, April 30th. JPMorgan Chase & Co. increased their target price on OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, Northland Securities upgraded OneMain from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, OneMain has an average rating of "Moderate Buy" and a consensus target price of $60.78.

About OneMain

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.