OneMain Holdings, Inc. (NYSE:OMF) Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in OneMain Holdings, Inc. by 36.3%, selling 155,006 shares and owning approximately 0.23% of the company, valued at $13.27 million.
• Several analysts upgraded OneMain's stock ratings, with Northland Capital Markets moving from "hold" to "strong-buy" and Wells Fargo raising the target price from $53 to $60.
• OneMain announced a quarterly dividend of $1.04 per share, offering a yield of 7.01%, with a high payout ratio of 87.95%.

Allianz Asset Management GmbH lowered its position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 36.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 271,506 shares of the financial services provider's stock after selling 155,006 shares during the period. Allianz Asset Management GmbH owned about 0.23% of OneMain worth $13,271,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of OneMain during the 1st quarter worth about $27,000. GAMMA Investing LLC raised its position in shares of OneMain by 191.9% during the 1st 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. Golden State Wealth Management LLC acquired a new position in shares of OneMain during the 1st quarter worth about $54,000. Fourth Dimension Wealth LLC acquired a new position in shares of OneMain during the 4th quarter worth about $57,000. Finally, Farther Finance Advisors LLC raised its position in shares of OneMain by 198.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,670 shares of the financial services provider's stock worth $82,000 after purchasing an additional 1,110 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

OneMain Stock Down 0.3%

Shares of OneMain stock traded down $0.16 during mid-day trading on Tuesday, hitting $59.04. The stock had a trading volume of 256,593 shares, compared to its average volume of 1,115,174. The firm has a 50-day moving average of $55.20 and a two-hundred day moving average of $52.29. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $60.33. The firm has a market cap of $7.02 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 0.47 and a beta of 1.32.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.20. OneMain had a net margin of 12.63% and a return on equity of 20.77%. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the company posted $1.02 EPS. The business's revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts expect that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Announces Dividend

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 issued a $1.04 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $4.16 annualized dividend and a dividend yield of 7.05%. OneMain's dividend payout ratio is currently 75.09%.

Insider Activity at OneMain

In other news, CEO Douglas H. Shulman sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $47.49, for a total value of $1,187,250.00. Following the transaction, the chief executive officer directly owned 343,925 shares in the company, valued at approximately $16,332,998.25. This represents a 6.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total transaction of $261,050.00. Following the completion of the transaction, the chief operating officer owned 108,007 shares in the company, valued at approximately $5,639,045.47. This represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,000 shares of company stock worth $3,082,190. Company insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

OMF has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of OneMain from $53.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Northland Securities upgraded shares of OneMain from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 8th. JPMorgan Chase & Co. upped their price objective on shares of OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Barclays upped their price objective on shares of OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $65.00 price objective on shares of OneMain in a research note on Wednesday, April 30th. Three equities research 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 stock. Based on data from MarketBeat, the company currently 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.