Logan Capital Management Inc. Boosts Stock Position in OneMain Holdings, Inc. $OMF

Key Points

• Logan Capital Management Inc. increased its stake in OneMain Holdings, Inc. by 33.5%, bringing its total ownership to 145,171 shares valued at approximately $7.1 million.
• Insider trading activity included CEO Douglas H. Shulman selling 35,000 shares for over $2 million, resulting in an 11.29% decrease in his ownership.
• OneMain's recent earnings report showed earnings per share of $1.45, exceeding analyst expectations, and the company declared a $1.04 quarterly dividend yielding 6.8% annually.

Logan Capital Management Inc. grew its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 33.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,171 shares of the financial services provider's stock after acquiring an additional 36,447 shares during the period. Logan Capital Management Inc. owned 0.12% of OneMain worth $7,096,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Essex Financial Services Inc. lifted its position in shares of OneMain by 6.7% during the first quarter. Essex Financial Services Inc. now owns 4,591 shares of the financial services provider's stock worth $224,000 after acquiring an additional 288 shares in the last quarter. Deutsche Bank AG raised its position in shares of OneMain by 0.8% in the first quarter. Deutsche Bank AG now owns 36,581 shares of the financial services provider's stock worth $1,788,000 after buying an additional 290 shares in the last quarter. Allworth Financial LP raised its position in shares of OneMain by 21.7% in the first quarter. Allworth Financial LP now owns 1,976 shares of the financial services provider's stock worth $96,000 after buying an additional 352 shares in the last quarter. Independent Advisor Alliance raised its position in shares of OneMain by 2.2% in the first quarter. Independent Advisor Alliance now owns 16,479 shares of the financial services provider's stock worth $805,000 after buying an additional 357 shares in the last quarter. Finally, SlateStone Wealth LLC raised its position in shares of OneMain by 5.7% in the first quarter. SlateStone Wealth LLC now owns 7,474 shares of the financial services provider's stock worth $365,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

Insiders Place Their Bets

In other news, CEO Douglas H. Shulman sold 35,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 4,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.02, for a total value of $232,080.00. Following the transaction, the chief operating officer directly owned 101,007 shares in the company, valued at $5,860,426.14. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 65,000 shares of company stock worth $3,715,340. 0.40% of the stock is owned by insiders.

Analyst Ratings Changes

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

OneMain Stock Down 0.7%

OMF opened at $61.06 on Tuesday. The stock has a market cap of $7.26 billion, a PE ratio of 11.02, a P/E/G ratio of 0.48 and a beta of 1.30. OneMain Holdings, Inc. has a 52 week low of $38.00 and a 52 week high of $63.24. The business's fifty day simple moving average is $58.75 and its 200 day simple moving average is $52.88.

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

OneMain Dividend Announcement

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

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.

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