OneMain Holdings, Inc. $OMF Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC sold 47.1% of its holdings in OneMain Holdings, resulting in ownership of 44,365 shares valued at approximately $2.17 million.
• CEO Douglas H. Shulman sold 35,000 shares of OneMain stock, reducing his position by 11.29% and leaving him with 275,100 shares worth over $16 million.
• OneMain recently declared a quarterly dividend of $1.04 per share, representing a 7.3% yield, and reported a 7.1% year-over-year revenue increase in its latest quarter.

Algert Global LLC lessened its holdings in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 47.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,365 shares of the financial services provider's stock after selling 39,460 shares during the quarter. Algert Global LLC's holdings in OneMain were worth $2,169,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in OMF. Envestnet Asset Management Inc. grew its stake in shares of OneMain by 3.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 79,782 shares of the financial services provider's stock worth $4,159,000 after purchasing an additional 2,380 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of OneMain during the 4th quarter worth approximately $2,075,000. Mariner LLC grew its stake in shares of OneMain by 6.3% during the 4th quarter. Mariner LLC now owns 17,197 shares of the financial services provider's stock worth $896,000 after purchasing an additional 1,019 shares during the period. NewEdge Advisors LLC grew its stake in shares of OneMain by 5.2% during the 4th quarter. NewEdge Advisors LLC now owns 6,809 shares of the financial services provider's stock worth $355,000 after purchasing an additional 334 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of OneMain by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,479,762 shares of the financial services provider's stock worth $181,402,000 after purchasing an additional 109,182 shares during the period. Institutional investors and hedge funds own 85.82% of the company's stock.

Insider Buying and Selling at OneMain

In other news, CEO Douglas H. Shulman sold 35,000 shares of OneMain stock in a transaction on 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 owned 275,100 shares in the company, valued at $16,360,197. The trade was a 11.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total value of $261,050.00. Following 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,000 shares of company stock worth $3,976,390. Insiders own 0.40% of the company's stock.

OneMain Stock Performance

Shares of OMF stock opened at $57.3430 on Friday. The stock's fifty day moving average is $57.09 and its two-hundred day moving average is $52.50. The firm has a market capitalization of $6.82 billion, a P/E ratio of 10.35, a PEG ratio of 0.45 and a beta of 1.29. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $60.33.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $1.02 EPS. On average, equities analysts forecast that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Dividend Announcement

The business also recently declared 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. This represents a $4.16 annualized dividend and a dividend yield of 7.3%. The ex-dividend date was Monday, August 4th. OneMain's payout ratio is currently 75.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on OMF shares. 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. Barclays raised their price objective on shares of OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company increased their target price on OneMain from $53.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. increased their target price on OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $61.50.

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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