Charles Schwab Investment Management Inc. Sells 8,060 Shares of OneMain Holdings, Inc. $OMF

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in OneMain Holdings by 0.6%, selling 8,060 shares during the first quarter, leaving them with approximately 1.4 million shares valued at $68.47 million.
• OneMain recently reported $1.45 EPS for the quarter, beating estimates of $1.25, with revenue of $1.20 billion, a 7.1% increase from the previous year.
• The company declared a quarterly dividend of $1.04 per share, resulting in an annualized dividend of $4.16 and a yield of 7.3%, with a payout ratio of 75.09%.

Charles Schwab Investment Management Inc. lessened its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,400,784 shares of the financial services provider's stock after selling 8,060 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.18% of OneMain worth $68,470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thoroughbred Financial Services LLC lifted its position in OneMain by 23.4% during the first quarter. Thoroughbred Financial Services LLC now owns 7,333 shares of the financial services provider's stock valued at $358,000 after purchasing an additional 1,390 shares during the last quarter. SlateStone Wealth LLC lifted its holdings in shares of OneMain by 5.7% during the 1st quarter. SlateStone Wealth LLC now owns 7,474 shares of the financial services provider's stock worth $365,000 after acquiring an additional 400 shares during the last quarter. XTX Topco Ltd purchased a new position in OneMain in the first quarter worth $2,029,000. LPL Financial LLC increased its stake in OneMain by 2.7% in the first quarter. LPL Financial LLC now owns 166,275 shares of the financial services provider's stock valued at $8,128,000 after acquiring an additional 4,439 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in OneMain by 7.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,384 shares of the financial services provider's stock valued at $1,583,000 after purchasing an additional 2,141 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

Insider Buying and Selling

In related 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 transaction of $2,081,450.00. Following the transaction, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. The trade was a 11.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction dated 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 directly owned 108,007 shares of the company's stock, valued at approximately $5,639,045.47. The trade was a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,000 shares of company stock valued at $3,976,390. 0.40% of the stock is owned by corporate insiders.

OneMain Stock Performance

NYSE:OMF traded up $0.09 during midday trading on Tuesday, reaching $58.26. 104,284 shares of the stock traded hands, compared to its average volume of 1,094,020. The stock has a market capitalization of $6.93 billion, a P/E ratio of 10.52, a PEG ratio of 0.45 and a beta of 1.29. The company has a fifty day moving average of $56.81 and a 200 day moving average of $52.40. OneMain Holdings, Inc. has a 12 month low of $38.00 and a 12 month high of $60.33.

OneMain (NYSE:OMF - Get Free Report) last posted its earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share 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 company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $1.02 earnings per share. OneMain's revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts predict that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date was Monday, August 4th. OneMain's dividend payout ratio is currently 75.09%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OMF. JMP Securities reiterated a "market outperform" rating and issued a $65.00 price objective on shares of OneMain in a report on Wednesday, April 30th. JPMorgan Chase & Co. upped 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. Wells Fargo & Company lifted their price target on shares of OneMain from $53.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, OneMain currently has an average rating of "Moderate Buy" and a consensus price target of $61.50.

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.