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 cut its position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 47.1% in the first quarter, according to the company in its most recent 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 period. Algert Global LLC's holdings in OneMain were worth $2,169,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new position in shares of OneMain during the 1st quarter worth about $27,000. Headlands Technologies LLC purchased a new position in shares of OneMain during the 1st quarter worth about $46,000. GAMMA Investing LLC boosted its stake 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 period. Fourth Dimension Wealth LLC purchased a new position in shares of OneMain during the 4th quarter worth about $57,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of OneMain during the 1st quarter worth about $54,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

OneMain Price Performance

Shares of NYSE:OMF traded up $0.27 during trading hours on Wednesday, hitting $61.42. The company's stock had a trading volume of 901,288 shares, compared to its average volume of 899,380. OneMain Holdings, Inc. has a 52 week low of $38.00 and a 52 week high of $61.81. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 0.48 and a beta of 1.29. The firm's fifty day moving average price is $57.73 and its 200 day moving average price is $52.62.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 EPS 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 20.65%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $1.02 EPS. The company's quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts predict that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on OMF. JPMorgan Chase & Co. boosted their price objective on shares of OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Wells Fargo & Company began coverage on shares of OneMain in a research report on Monday. They issued an "equal weight" rating for the company. Barclays boosted their price objective on shares of OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Finally, JMP Securities reissued a "market outperform" rating and issued a $65.00 price objective on shares of OneMain in a research report on Wednesday, April 30th. One investment 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's stock. According to MarketBeat.com, OneMain presently has an average rating of "Moderate Buy" and an average price target of $61.50.

Insider Activity at OneMain

In related news, COO Micah R. Conrad sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.02, for a total transaction of $232,080.00. Following the completion of the transaction, the chief operating officer owned 101,007 shares in the company, valued at $5,860,426.14. The trade was a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas H. Shulman sold 35,000 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $16,360,197. This trade represents a 11.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,000 shares of company stock valued at $3,715,340. 0.40% of the stock is currently owned by company insiders.

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.