OneMain Holdings, Inc. (NYSE:OMF) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC cut its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 14.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,491 shares of the financial services provider's stock after selling 13,610 shares during the period. DAVENPORT & Co LLC owned 0.07% of OneMain worth $3,983,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in OneMain during the first quarter valued at about $27,000. IFP Advisors Inc grew its holdings in shares of OneMain by 180.0% during the 4th quarter. IFP Advisors Inc now owns 770 shares of the financial services provider's stock worth $40,000 after purchasing an additional 495 shares during the period. GAMMA Investing LLC increased its position in 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 in the last quarter. Golden State Wealth Management LLC purchased a new position in OneMain in the first quarter valued at approximately $54,000. Finally, Fourth Dimension Wealth LLC acquired a new position in OneMain during the fourth quarter valued at approximately $57,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Evercore ISI assumed coverage on OneMain in a report on Tuesday, March 25th. They issued an "in-line" rating and a $58.00 price target for the company. Barclays set a $56.00 price target on OneMain in a report on Friday, March 14th. JMP Securities reissued a "market outperform" rating and set a $65.00 target price on shares of OneMain in a research report on Wednesday, April 30th. Northland Securities raised shares of OneMain from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 8th. Finally, Northland Capmk upgraded shares of OneMain from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.40.

Insiders Place Their Bets

In other news, COO Micah R. Conrad sold 5,000 shares of the firm's stock in a transaction 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 transaction, the chief operating officer directly owned 108,007 shares of the company's stock, valued at approximately $5,639,045.47. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas H. Shulman sold 40,000 shares of OneMain stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the sale, the chief executive officer owned 368,925 shares in the company, valued at approximately $18,446,250. This represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,000 shares of company stock valued at $4,902,190 in the last quarter. 0.40% of the stock is currently owned by insiders.

OneMain Stock Performance

Shares of NYSE OMF traded up $0.25 during midday trading on Friday, hitting $59.50. The company's stock had a trading volume of 1,175,448 shares, compared to its average volume of 1,057,943. OneMain Holdings, Inc. has a 1-year low of $38.00 and a 1-year high of $60.08. The firm's fifty day moving average price is $52.23 and its 200-day moving average price is $51.57. The firm has a market cap of $7.08 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.51 and a beta of 1.32.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.17. OneMain had a return on equity of 19.30% and a net margin of 11.06%. The business had revenue of $188.00 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the business posted $1.45 EPS. The business's revenue was up 7.1% on a year-over-year basis. As a group, research analysts predict that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 6.99%. The ex-dividend date was Friday, May 9th. OneMain's payout ratio is currently 87.95%.

OneMain 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.