Principal Financial Group Inc. Cuts Position in OneMain Holdings, Inc. (NYSE:OMF)

Principal Financial Group Inc. cut its position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 678,328 shares of the financial services provider's stock after selling 43,172 shares during the period. Principal Financial Group Inc. owned 0.57% of OneMain worth $33,157,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in shares of OneMain in the 1st quarter valued at about $27,000. 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 purchasing an additional 662 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in OneMain during the 4th quarter valued at about $57,000. Golden State Wealth Management LLC acquired a new position in OneMain during the 1st quarter valued at about $54,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in OneMain during the 4th quarter valued at about $82,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

OneMain Trading Down 1.5%

Shares of NYSE:OMF traded down $0.92 during mid-day trading on Friday, reaching $58.89. The company had a trading volume of 697,950 shares, compared to its average volume of 1,064,928. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.51 and a beta of 1.32. The company's 50-day moving average price is $53.53 and its 200-day moving average price is $51.86. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $60.12.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.17. The company had revenue of $188.00 million for the quarter, compared to analysts' expectations of $1.16 billion. OneMain had a net margin of 11.06% and a return on equity of 19.30%. OneMain's revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.45 EPS. On average, research analysts anticipate that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $4.16 dividend on an annualized basis and a yield of 7.06%. OneMain's payout ratio is 87.95%.

Insiders Place Their Bets

In other OneMain 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 transaction of $180,000.00. Following the sale, the chief operating officer owned 98,007 shares of the company's stock, valued at $5,880,420. The trade was a 2.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas H. Shulman sold 20,000 shares of the business's stock in a transaction 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 sale, the chief executive officer directly owned 323,925 shares in the company, valued at $17,025,498. The trade was a 5.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock worth $5,082,190 in the last three months. Insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OMF shares. JMP Securities reiterated a "market outperform" rating and set a $65.00 price target on shares of OneMain in a research note on Wednesday, April 30th. Northland Capmk raised shares of OneMain from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Northland Securities raised shares of OneMain from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their target price on shares of OneMain from $57.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Finally, Barclays lifted their target price on shares of OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.00.

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.