OneMain Holdings, Inc. $OMF Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in OneMain Holdings, Inc. by 13.7%, owning approximately 0.08% of the company after selling 15,729 shares.
• OneMain reported an earnings per share (EPS) of $1.45 for the last quarter, exceeding estimates of $1.25, and a revenue of $1.20 billion, up 7.1% year-over-year.
• The company announced a quarterly dividend of $1.04, translating to an annual yield of 6.9%, with a current payout ratio of 75.09%.

Hsbc Holdings PLC trimmed its holdings in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 13.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,721 shares of the financial services provider's stock after selling 15,729 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of OneMain worth $4,802,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in OneMain by 56.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 121,577 shares of the financial services provider's stock valued at $5,966,000 after buying an additional 43,915 shares during the last quarter. GAMMA Investing LLC lifted its stake in OneMain by 191.9% in the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock valued at $49,000 after buying an additional 662 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in OneMain by 5.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,851 shares of the financial services provider's stock valued at $1,251,000 after buying an additional 1,441 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in OneMain in the first quarter valued at approximately $853,000. Finally, SG Americas Securities LLC lifted its stake in OneMain by 171.9% in the first quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider's stock valued at $532,000 after buying an additional 6,875 shares during the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

OneMain Stock Performance

NYSE:OMF opened at $60.19 on Tuesday. The stock has a fifty day moving average price of $57.40 and a two-hundred day moving average price of $52.50. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 0.47 and a beta of 1.29. OneMain Holdings, Inc. has a 1 year low of $38.00 and a 1 year high of $60.75.

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

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were given a $1.04 dividend. The ex-dividend date was Monday, August 4th. This represents a $4.16 annualized dividend and a yield of 6.9%. OneMain's dividend payout ratio is presently 75.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OMF shares. JMP Securities reiterated a "market outperform" rating and issued a $65.00 price objective on shares of OneMain in a research note on Wednesday, April 30th. Barclays upped their price target on OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. upped their price target on OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company initiated coverage on OneMain in a research note on Monday. They set an "equal weight" rating for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $61.50.

Insider Buying and Selling at OneMain

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the transaction, the chief executive officer owned 275,100 shares of the company's stock, valued at $16,360,197. The trade was a 11.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,000 shares of company stock valued at $3,976,390 in the last quarter. 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.

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