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 first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,056,367 shares of the financial services provider's stock after selling 119,271 shares during the quarter. Price T Rowe Associates Inc. MD owned 2.57% of OneMain worth $149,396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of OMF. Alpine Bank Wealth Management purchased a new position in shares of OneMain during the 1st quarter valued at approximately $27,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of OneMain in the first quarter worth $42,000. Headlands Technologies LLC acquired a new stake in OneMain in the first quarter valued at $46,000. GAMMA Investing LLC boosted 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 acquiring an additional 662 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in OneMain during the 4th quarter worth $57,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at OneMain

In other news, COO Micah R. Conrad sold 3,000 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $60.00, for a total value of $180,000.00. Following the completion of the sale, the chief operating officer directly owned 98,007 shares in the company, valued at approximately $5,880,420. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas H. Shulman sold 35,000 shares of the business's stock in a transaction on 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 transaction, the chief executive officer directly owned 275,100 shares of the company's stock, valued at approximately $16,360,197. This represents a 11.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,000 shares of company stock valued at $3,715,340 in the last ninety days. Insiders own 0.40% of the company's stock.

OneMain Trading Up 0.4%

NYSE OMF traded up $0.26 on Friday, reaching $61.85. The stock had a trading volume of 642,396 shares, compared to its average volume of 853,194. OneMain Holdings, Inc. has a 1 year low of $38.00 and a 1 year high of $62.02. The business has a 50 day moving average price of $58.04 and a 200 day moving average price of $52.68. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 0.48 and a beta of 1.29.

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, beating the consensus estimate of $1.25 by $0.20. The business 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%.The firm's quarterly 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, analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 6.7%. The ex-dividend date was Monday, August 4th. OneMain's dividend payout ratio (DPR) is 75.09%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OMF shares. JPMorgan Chase & Co. raised their price objective on OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Wells Fargo & Company assumed coverage on OneMain in a research note on Monday, August 25th. They set an "equal weight" rating on the stock. Finally, Barclays boosted their price target on shares of OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $61.50.

OneMain Company 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.