HighTower Advisors LLC Trims Stock Position in OneMain Holdings, Inc. $OMF

Key Points

• HighTower Advisors LLC has decreased its position in OneMain Holdings by 48.7%, selling 8,659 shares during the first quarter, reducing their holdings to 9,116 shares valued at $446,000.
• OneMain reported earnings per share of $1.45 for the last quarter, exceeding analysts' expectations, alongside a 7.1% year-over-year revenue growth to $1.20 billion.
• The company announced a quarterly dividend of $1.04 per share, resulting in an annualized dividend of $4.16 and a yield of 6.7%, with a payout ratio of 75.09%.

HighTower Advisors LLC trimmed its position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 48.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,116 shares of the financial services provider's stock after selling 8,659 shares during the quarter. HighTower Advisors LLC's holdings in OneMain were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Independent Advisor Alliance increased its stake in shares of OneMain by 2.2% in the first quarter. Independent Advisor Alliance now owns 16,479 shares of the financial services provider's stock worth $805,000 after buying an additional 357 shares during the period. Nuveen LLC purchased a new position in OneMain during the 1st quarter valued at $48,282,000. Virtu Financial LLC purchased a new position in OneMain during the 1st quarter valued at $515,000. Invesco Ltd. increased its position in OneMain by 16.4% during the 1st quarter. Invesco Ltd. now owns 335,097 shares of the financial services provider's stock valued at $16,380,000 after purchasing an additional 47,099 shares during the period. Finally, Atlas Capital Advisors Inc. purchased a new position in OneMain during the 1st quarter valued at $129,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the company'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 approximately $16,360,197. This represents a 11.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Micah R. Conrad sold 4,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.02, for a total transaction of $232,080.00. Following the transaction, the chief operating officer owned 101,007 shares in the company, valued at $5,860,426.14. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,000 shares of company stock worth $3,715,340 in the last 90 days. Company insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

OMF has been the topic of a number of research analyst reports. 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. 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, Wells Fargo & Company initiated coverage on shares of OneMain in a research report on Monday, August 25th. They set an "equal weight" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $61.50.

OneMain Price Performance

OneMain stock traded up $0.60 during mid-day trading on Thursday, reaching $62.63. The stock had a trading volume of 261,845 shares, compared to its average volume of 1,080,190. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 0.48 and a beta of 1.30. The company has a 50-day moving average price of $58.45 and a two-hundred day moving average price of $52.82. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $62.58.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. OneMain's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 EPS. On average, equities research analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend was Monday, August 4th. OneMain's dividend payout ratio is presently 75.09%.

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.