Prescott Group Capital Management L.L.C. Has $3.96 Million Position in OneMain Holdings, Inc. (NYSE:OMF)

Key Points

• Prescott Group Capital Management reduced its stake in OneMain Holdings by 46.4%, owning 81,000 shares worth approximately $3.96 million after selling 70,000 shares.
• The CEO and COO of OneMain sold significant shares recently, with the CEO's sale leading to a 9.78% decrease in his ownership.
• JPMorgan Chase & Co. and Northland Capital Markets raised their price targets for OneMain, reflecting a positive outlook with average target set at $60.78 per share.

Prescott Group Capital Management L.L.C. lessened its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 46.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,000 shares of the financial services provider's stock after selling 70,000 shares during the quarter. Prescott Group Capital Management L.L.C. owned 0.07% of OneMain worth $3,959,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of OneMain in the first quarter worth about $27,000. GAMMA Investing LLC lifted its stake in shares of OneMain by 191.9% in the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock worth $49,000 after acquiring an additional 662 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of OneMain in the first quarter worth about $54,000. Fourth Dimension Wealth LLC acquired a new position in shares of OneMain in the fourth quarter worth about $57,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of OneMain by 198.2% in the first quarter. Farther Finance Advisors LLC now owns 1,670 shares of the financial services provider's stock worth $82,000 after acquiring an additional 1,110 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on OneMain from $53.00 to $60.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Northland Securities raised OneMain from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 8th. Northland Capmk raised OneMain from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. JMP Securities reissued a "market outperform" rating and issued a $65.00 price objective on shares of OneMain in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. boosted their price objective on OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a report on Friday, July 11th. 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 stock. According to MarketBeat.com, OneMain presently has an average rating of "Moderate Buy" and an average target price of $60.78.

OneMain Price Performance

Shares of NYSE OMF traded down $0.38 during mid-day trading on Tuesday, hitting $58.82. The company had a trading volume of 386,344 shares, compared to its average volume of 1,116,120. OneMain Holdings, Inc. has a 12 month low of $38.00 and a 12 month high of $60.33. The firm has a market cap of $7.00 billion, a P/E ratio of 10.62, a PEG ratio of 0.47 and a beta of 1.32. The business's 50-day simple moving average is $55.20 and its 200-day simple moving average is $52.29.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly earnings results 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. OneMain had a net margin of 12.63% and a return on equity of 20.77%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business posted $1.02 earnings per share. The company's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 13th. Investors of record on Monday, August 4th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 7.07%. The ex-dividend date is Monday, August 4th. OneMain's dividend payout ratio (DPR) is presently 75.09%.

Insider Activity at OneMain

In other news, CEO Douglas H. Shulman sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $52.56, for a total transaction of $1,051,200.00. Following the completion of the sale, the chief executive officer owned 323,925 shares of the company's stock, valued at approximately $17,025,498. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Micah R. Conrad sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $60.00, for a total transaction of $180,000.00. Following the sale, the chief operating officer directly owned 98,007 shares of the company's stock, valued at approximately $5,880,420. The trade was a 2.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,000 shares of company stock valued at $3,082,190. Company insiders own 0.40% of the company's stock.

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.