OneMain Holdings, Inc. $OMF Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its OneMain Holdings stake by 22.3% in the second quarter, selling 188,602 shares and retaining 655,310 shares valued at about $39.95 million. Institutional investors collectively own 85.82% of the company.
• OneMain reported quarterly EPS of $1.31, beating estimates of $1.26, while revenue rose 6.7% year over year to $1.62 billion. The company also paid a $1.05 quarterly dividend, equivalent to a 6.9% annualized yield.
• Analyst sentiment remains positive, with eight Buy ratings, three Holds and one Sell; the consensus rating is Moderate Buy with a $68.40 price target versus a share price of $60.49.

Bank of America Corp DE reduced its holdings in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 22.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 655,310 shares of the financial services provider's stock after selling 188,602 shares during the quarter. Bank of America Corp DE owned approximately 0.57% of OneMain worth $39,954,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of OneMain during the second quarter valued at $633,893,000. Jupiter Topco LLC acquired a new position in shares of OneMain during the second quarter worth approximately $166,060,000. Norges Bank acquired a new position in shares of OneMain during the fourth quarter worth approximately $100,312,000. Bank of New York Mellon Corp bought a new position in OneMain in the 2nd quarter worth approximately $63,980,000. Finally, Azora Capital LP grew its holdings in OneMain by 210.7% in the 4th quarter. Azora Capital LP now owns 1,362,934 shares of the financial services provider's stock worth $92,066,000 after buying an additional 924,302 shares in the last quarter. 85.82% of the stock is owned by institutional investors.

OneMain Stock Down 0.5%

NYSE:OMF opened at $60.49 on Tuesday. OneMain Holdings, Inc. has a 1-year low of $45.78 and a 1-year high of $71.93. The stock has a fifty day simple moving average of $62.71 and a 200 day simple moving average of $58.21. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 0.47 and a beta of 1.22.

OneMain (NYSE:OMF - Get Free Report) last released its earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.28 billion. OneMain had a return on equity of 23.49% and a net margin of 13.92%.The company's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.45 earnings per share. Equities analysts predict that OneMain Holdings, Inc. will post 7.11 earnings per share for the current year.

OneMain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were given a $1.05 dividend. The ex-dividend date was Monday, August 10th. This represents a $4.20 dividend on an annualized basis and a yield of 6.9%. OneMain's dividend payout ratio is presently 63.25%.

Insiders Place Their Bets

In other OneMain news, COO Micah Conrad sold 5,000 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total value of $327,000.00. Following the transaction, the chief operating officer directly owned 91,250 shares of the company's stock, valued at $5,967,750. This represents a 5.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael Hedlund sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total transaction of $160,000.00. Following the transaction, the senior vice president directly owned 10,627 shares in the company, valued at approximately $680,128. The trade was a 19.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 14,348 shares of company stock valued at $911,576. Insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

OMF has been the subject of a number of recent analyst reports. TD Cowen increased their target price on shares of OneMain from $66.00 to $68.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Royal Bank Of Canada boosted their price target on shares of OneMain from $70.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of OneMain in a research note on Tuesday, July 7th. Citizens Jmp increased their price objective on shares of OneMain from $68.00 to $70.00 and gave the company a "market outperform" rating in a report on Thursday, July 30th. Finally, Barclays lowered their price objective on shares of OneMain from $61.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 7th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, OneMain has an average rating of "Moderate Buy" and a consensus price target of $68.40.

OneMain Company Profile

OneMain Holdings, Inc NYSE: OMF is a consumer finance company that provides personal lending and related financial products to consumers in the United States. Its primary business operates under the OneMain Financial brand and focuses on serving individuals who may not be fully served by traditional banks.

OneMain offers unsecured and secured personal loans, including loans used for debt consolidation, home improvements, major purchases and other personal expenses. The company also provides optional insurance and debt-cancellation products, as well as credit-related services designed to complement its lending business.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.