Kingstone Capital Partners Texas LLC Takes $611.10 Million Position in OneMain Holdings, Inc. $OMF

Key Points

• Kingstone Capital Partners Texas LLC has acquired 10,721,095 shares of OneMain Holdings, Inc., valued at approximately $611 million, making it the owner of about 9.01% of the company's stock.
• Insider sales included COO Micah R. Conrad selling 3,000 shares and CEO Douglas H. Shulman selling 35,000 shares, resulting in a total of 45,000 shares sold by company insiders worth over $2.66 million in the last three months.
• Analysts have raised price targets for OneMain Holdings, with Barclays increasing it to $56.00 and JPMorgan Chase boosting it to $63.00, contributing to a consensus price target of $61.50.

Kingstone Capital Partners Texas LLC purchased a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,721,095 shares of the financial services provider's stock, valued at approximately $611,102,000. Kingstone Capital Partners Texas LLC owned about 9.01% of OneMain as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in OneMain in the first quarter worth approximately $27,000. SVB Wealth LLC purchased a new stake in OneMain in the first quarter worth approximately $34,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in OneMain in the first quarter worth approximately $42,000. Headlands Technologies LLC purchased a new stake in OneMain in the first quarter worth approximately $46,000. Finally, GAMMA Investing LLC boosted 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 worth $49,000 after purchasing an additional 662 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

Insider Transactions at OneMain

In related news, COO Micah R. Conrad sold 4,000 shares of OneMain stock in a transaction dated 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 directly owned 101,007 shares of the company's stock, valued at approximately $5,860,426.14. The trade was a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas H. Shulman sold 35,000 shares of the business's 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 directly owned 275,100 shares of the company's stock, valued at approximately $16,360,197. This trade represents a 11.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,000 shares of company stock valued at $2,664,140. 0.40% of the stock is owned by corporate insiders.

OneMain Stock Performance

Shares of NYSE:OMF traded up $0.69 on Tuesday, reaching $61.14. The company's stock had a trading volume of 210,274 shares, compared to its average volume of 1,058,224. OneMain Holdings, Inc. has a 52-week low of $38.00 and a 52-week high of $63.24. The company has a market cap of $7.27 billion, a P/E ratio of 11.04, a PEG ratio of 0.47 and a beta of 1.30. The company has a 50-day simple moving average of $59.11 and a 200 day simple moving average of $53.54.

OneMain (NYSE:OMF - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.19 billion. During the same period last year, the company posted $1.02 EPS. The business's revenue was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 6.8%. OneMain's payout ratio is currently 75.09%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. 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 report on Tuesday, July 8th. JPMorgan Chase & Co. increased their price target 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, Wells Fargo & Company initiated coverage on shares of OneMain in a research report on Monday, August 25th. They issued an "equal weight" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $61.50.

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.