Swiss National Bank Lowers Stake in OneMain Holdings, Inc. $OMF

Key Points

• The Swiss National Bank reduced its stake in OneMain Holdings by 1.8%, selling 4,300 shares and owning approximately 0.19% of the company, valued at $11.3 million.
• Several analysts have issued price target increases for OneMain, with Wells Fargo raising its target from $53 to $60 and JPMorgan Chase raising its target from $50 to $63, while maintaining an "overweight" rating.
• OneMain recently announced a quarterly dividend of $1.04, reflecting a yield of 7.3%, with a reported dividend payout ratio of 75.09%.

Swiss National Bank reduced its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 1.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 231,200 shares of the financial services provider's stock after selling 4,300 shares during the period. Swiss National Bank owned about 0.19% of OneMain worth $11,301,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of OMF. Alpine Bank Wealth Management bought a new position in shares of OneMain during the 1st quarter valued at approximately $27,000. Headlands Technologies LLC bought a new position in shares of OneMain during the 1st quarter valued at approximately $46,000. GAMMA Investing LLC grew its position in shares of 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 period. Golden State Wealth Management LLC bought a new position in shares of OneMain during the 1st quarter valued at approximately $54,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of OneMain during the 4th quarter valued at approximately $57,000. 85.82% of the stock is owned by institutional investors.

Insider Activity at OneMain

In other OneMain news, COO Micah R. Conrad sold 3,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer directly owned 98,007 shares in the company, valued at $5,880,420. This represents a 2.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. This represents a 11.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,000 shares of company stock worth $3,976,390 over the last quarter. Corporate insiders own 0.40% of the company's stock.

OneMain Trading Up 0.1%

Shares of OMF stock traded up $0.0570 during trading on Tuesday, reaching $58.2270. 127,669 shares of the company's stock traded hands, compared to its average volume of 1,094,170. The company has a market capitalization of $6.92 billion, a P/E ratio of 10.50, a PEG ratio of 0.45 and a beta of 1.29. The firm's 50-day moving average is $56.81 and its 200 day moving average is $52.40. OneMain Holdings, Inc. has a 1 year low of $38.00 and a 1 year high of $60.33.

OneMain (NYSE:OMF - Get Free Report) last posted its 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 20.65%. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the company posted $1.02 EPS. The business's revenue for the quarter 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 earnings per share for the current fiscal year.

OneMain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were paid a $1.04 dividend. The ex-dividend date was Monday, August 4th. This represents a $4.16 annualized dividend and a yield of 7.1%. OneMain's dividend payout ratio is currently 75.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on OMF shares. Barclays increased their target price on shares of OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. JMP Securities restated a "market outperform" rating and set a $65.00 price target on shares of OneMain in a research note on Wednesday, April 30th. Wells Fargo & Company upped their price target on shares of OneMain from $53.00 to $60.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, OneMain has a consensus rating of "Moderate Buy" and an average price target of $61.50.

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.