Lecap Asset Management Ltd. Sells 6,692 Shares of OneMain Holdings, Inc. $OMF

Key Points

• Lecap Asset Management Ltd. reduced its stake in OneMain Holdings, Inc. by 49.5%, selling 6,692 shares and now owning 6,825 shares worth approximately $389,000.
• OneMain reported $1.45 EPS for the last quarter, exceeding estimates, with a year-over-year revenue increase of 7.1%.
• The company announced a quarterly dividend of $1.04 per share, representing an annualized yield of 7.4% and a payout ratio of 75.09%.

Lecap Asset Management Ltd. decreased its stake in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 49.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,825 shares of the financial services provider's stock after selling 6,692 shares during the period. Lecap Asset Management Ltd.'s holdings in OneMain were worth $389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of OMF. Allspring Global Investments Holdings LLC grew its stake in OneMain by 56.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 121,577 shares of the financial services provider's stock valued at $5,966,000 after purchasing an additional 43,915 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of OneMain by 191.9% in the 1st 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. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of OneMain by 5.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,851 shares of the financial services provider's stock valued at $1,251,000 after buying an additional 1,441 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in OneMain during the first quarter worth $853,000. Finally, SG Americas Securities LLC increased its holdings in OneMain by 171.9% during the first quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider's stock worth $532,000 after buying an additional 6,875 shares during the last quarter. Institutional investors own 85.82% of the company's stock.

OneMain Stock Down 0.2%

Shares of OMF stock opened at $56.26 on Friday. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $63.24. The company has a market capitalization of $6.69 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 0.44 and a beta of 1.32. The firm has a 50 day moving average price of $59.08 and a two-hundred day moving average price of $54.11.

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

OneMain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were issued 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 7.4%. OneMain's dividend payout ratio (DPR) is currently 75.09%.

Analyst Ratings Changes

OMF has been the subject of a number of analyst reports. Wells Fargo & Company initiated coverage on shares of OneMain in a research report on Monday, August 25th. They issued an "equal weight" rating for the company. Barclays lifted their price target on OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Weiss Ratings restated a "buy (b-)" rating on shares of OneMain in a research note on Saturday, September 27th. Finally, JPMorgan Chase & Co. lifted their target price on OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, OneMain has a consensus rating of "Moderate Buy" and a consensus target price of $61.50.

Insider Activity

In other news, 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 value of $2,081,450.00. Following the completion of the sale, the chief executive officer owned 275,100 shares of the company's stock, valued at approximately $16,360,197. The trade was a 11.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.40% of the company's stock.

OneMain Company 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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