Virtu Financial LLC Makes New Investment in OneMain Holdings, Inc. $OMF

Key Points

• Virtu Financial LLC acquired a new stake in OneMain Holdings, purchasing 10,535 shares valued at approximately $515,000.
• OneMain reported an earnings per share (EPS) of $1.45 for the recent quarter, exceeding analysts' estimates by $0.20.
• The company announced a quarterly dividend of $1.04, reflecting a 7.2% yield for investors.

Virtu Financial LLC acquired a new position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,535 shares of the financial services provider's stock, valued at approximately $515,000.

Other institutional investors have also added to or reduced their stakes in the company. Prosperity Consulting Group LLC increased its holdings in OneMain by 4.8% in the fourth quarter. Prosperity Consulting Group LLC now owns 6,075 shares of the financial services provider's stock valued at $317,000 after purchasing an additional 281 shares during the period. Essex Financial Services Inc. increased its stake in shares of OneMain by 6.7% in the first quarter. Essex Financial Services Inc. now owns 4,591 shares of the financial services provider's stock valued at $224,000 after buying an additional 288 shares during the period. Deutsche Bank AG raised its position in shares of OneMain by 0.8% during the first quarter. Deutsche Bank AG now owns 36,581 shares of the financial services provider's stock worth $1,788,000 after acquiring an additional 290 shares during the last quarter. Hancock Whitney Corp lifted its stake in shares of OneMain by 1.3% in the fourth quarter. Hancock Whitney Corp now owns 22,212 shares of the financial services provider's stock worth $1,158,000 after acquiring an additional 295 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of OneMain by 5.2% in the fourth quarter. NewEdge Advisors LLC now owns 6,809 shares of the financial services provider's stock worth $355,000 after acquiring an additional 334 shares during the period. 85.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Barclays raised their price target on shares of OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their target price on shares of OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. JMP Securities restated a "market outperform" rating and issued a $65.00 target price on shares of OneMain in a report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their price target on OneMain from $53.00 to $60.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.50.

Insider Buying and Selling at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total value of $261,050.00. Following the sale, the chief operating officer owned 108,007 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas H. Shulman sold 35,000 shares of OneMain stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total value of $2,081,450.00. Following the sale, the chief executive officer directly owned 275,100 shares of the company's stock, valued at $16,360,197. This represents a 11.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,000 shares of company stock valued at $3,976,390. Insiders own 0.40% of the company's stock.

OneMain Stock Up 0.8%

OMF traded up $0.44 on Monday, hitting $57.71. The company's stock had a trading volume of 413,283 shares, compared to its average volume of 1,096,837. 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 $6.86 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 0.45 and a beta of 1.29. The company's 50 day simple moving average is $56.70 and its 200-day simple moving average is $52.38.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.20. The company 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 period in the previous year, the business earned $1.02 earnings per share. Equities 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 declared a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend was Monday, August 4th. OneMain's dividend payout ratio (DPR) is presently 75.09%.

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.