Price T Rowe Associates Inc. MD Sells 119,271 Shares of OneMain Holdings, Inc. $OMF

Key Points

• Price T Rowe Associates Inc. MD reduced its holdings in OneMain Holdings by 3.8%, selling 119,271 shares to end up with approximately 3,056,367 shares worth $149.4 million.
• OneMain's stock has risen by 4.8% and currently trades at $60.12, with a twelve-month high of $60.41 and a market cap of $7.15 billion.
• OneMain recently announced a quarterly dividend of $1.04 per share, resulting in a yield of 6.9%, with a dividend payout ratio of 75.09%.

Price T Rowe Associates Inc. MD lessened its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,056,367 shares of the financial services provider's stock after selling 119,271 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.57% of OneMain worth $149,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMF. Alpine Bank Wealth Management bought a new position in OneMain in the 1st quarter worth approximately $27,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of OneMain in the first quarter worth $42,000. Headlands Technologies LLC bought a new position in OneMain during the first quarter worth $46,000. GAMMA Investing LLC raised its stake in OneMain by 191.9% during the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 662 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in OneMain during the 1st quarter valued at $54,000. Institutional investors and hedge funds own 85.82% of the company's stock.

OneMain Stock Up 4.8%

NYSE OMF opened at $60.1190 on Monday. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $60.41. The stock has a market cap of $7.15 billion, a P/E ratio of 10.85, a PEG ratio of 0.47 and a beta of 1.29. The company's 50-day simple moving average is $57.25 and its 200 day simple moving average is $52.47.

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

OneMain Dividend Announcement

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

Analyst Ratings Changes

Several analysts have issued reports on OMF shares. JPMorgan Chase & Co. raised their price target on shares of OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. JMP Securities reissued a "market outperform" rating and set a $65.00 target price on shares of OneMain in a research report on Wednesday, April 30th. Barclays boosted their price target on OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company raised their price objective on OneMain from $53.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, OneMain presently has a consensus rating of "Moderate Buy" and an average target price of $61.50.

Insider Buying and Selling at OneMain

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total transaction of $261,050.00. Following the completion of the transaction, the chief operating officer directly owned 108,007 shares of the company's stock, valued at approximately $5,639,045.47. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas H. Shulman sold 35,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the completion of the sale, the chief executive officer directly owned 275,100 shares in the company, valued at approximately $16,360,197. The trade was a 11.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,000 shares of company stock valued at $3,976,390 over the last quarter. Corporate 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.

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