Phocas Financial Corp. Sells 5,918 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Key Points

• Phocas Financial Corp. has reduced its stake in OneMain Holdings, Inc. by 5.4%, now owning 102,729 shares valued at approximately $5,021,000 after selling 5,918 shares during the first quarter.
• Several analysts have upgraded their ratings on OneMain, with JPMorgan Chase & Co. raising the price target from $50.00 to $63.00 and assigning an "overweight" rating.
• OneMain recently announced a quarterly dividend of $1.04 per share, reflecting an annualized yield of 7.4% and a payout ratio of 75.09%.

Phocas Financial Corp. lessened its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,729 shares of the financial services provider's stock after selling 5,918 shares during the period. Phocas Financial Corp. owned 0.09% of OneMain worth $5,021,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. SlateStone Wealth LLC increased its stake in OneMain by 5.7% during the 1st quarter. SlateStone Wealth LLC now owns 7,474 shares of the financial services provider's stock worth $365,000 after acquiring an additional 400 shares during the period. XTX Topco Ltd bought a new position in shares of OneMain in the 1st quarter valued at $2,029,000. LPL Financial LLC increased its stake in shares of OneMain by 2.7% in the 1st quarter. LPL Financial LLC now owns 166,275 shares of the financial services provider's stock valued at $8,128,000 after purchasing an additional 4,439 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of OneMain by 7.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,384 shares of the financial services provider's stock valued at $1,583,000 after purchasing an additional 2,141 shares during the last quarter. Finally, Assetmark Inc. increased its stake in shares of OneMain by 11.5% in the 1st quarter. Assetmark Inc. now owns 9,686 shares of the financial services provider's stock valued at $473,000 after purchasing an additional 998 shares during the last quarter. Institutional investors own 85.82% of the company's stock.

Analyst Ratings Changes

OMF has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. JMP Securities reiterated a "market outperform" rating and issued a $65.00 price target on shares of OneMain in a research note on Wednesday, April 30th. Northland Capmk upgraded OneMain from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Wells Fargo & Company lifted their price target on OneMain from $53.00 to $60.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Northland Securities upgraded OneMain from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.50.

Insider Activity

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total transaction of $261,050.00. Following the transaction, the chief operating officer directly owned 108,007 shares of the company's stock, valued at approximately $5,639,045.47. The trade was a 4.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas H. Shulman sold 35,000 shares of OneMain stock in a transaction dated 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 transaction, the chief executive officer directly owned 275,100 shares in the company, valued at $16,360,197. The trade was a 11.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,000 shares of company stock worth $3,976,390 over the last ninety days. Company insiders own 0.40% of the company's stock.

OneMain Stock Down 2.2%

Shares of OMF stock opened at $56.50 on Friday. The firm has a market capitalization of $6.72 billion, a P/E ratio of 10.20, a P/E/G ratio of 0.44 and a beta of 1.29. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $60.33. The stock's fifty day simple moving average is $55.78 and its 200 day simple moving average is $52.41.

OneMain (NYSE:OMF - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.20. The business 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%. OneMain's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS. As a group, equities research analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $4.16 annualized dividend and a yield of 7.4%. OneMain's payout ratio is presently 75.09%.

OneMain Profile

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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