Virtu Financial LLC Takes $515,000 Position in OneMain Holdings, Inc. (NYSE: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 bought a new stake in OneMain Holdings, Inc. (NYSE:OMF - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,535 shares of the financial services provider's stock, valued at approximately $515,000.

Other hedge funds have also added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in OneMain during the 1st quarter valued at about $27,000. Headlands Technologies LLC acquired a new position in OneMain during the 1st quarter valued at about $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 purchasing an additional 662 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in OneMain during the 1st quarter valued at about $54,000. Finally, Fourth Dimension Wealth LLC acquired a new position in OneMain during the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 85.82% of the company's stock.

OneMain Trading Down 2.1%

Shares of OneMain stock traded down $1.20 during trading on Friday, hitting $57.29. The stock had a trading volume of 619,783 shares, compared to its average volume of 1,039,183. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 0.45 and a beta of 1.29. OneMain Holdings, Inc. has a 12 month low of $38.00 and a 12 month high of $60.33. The business's 50-day moving average is $56.70 and its 200 day moving average is $52.41.

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. The company had revenue of $1.20 billion for 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%. OneMain's quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $1.02 earnings per share. As a group, equities analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Dividend Announcement

The business also recently announced 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. The ex-dividend date was Monday, August 4th. This represents a $4.16 dividend on an annualized basis and a yield of 7.3%. OneMain's payout ratio is currently 75.09%.

Insiders Place Their Bets

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 transaction of $180,000.00. Following the completion of 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 at this link. 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 completion of the sale, the chief executive officer 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. Over the last quarter, insiders have sold 70,000 shares of company stock valued at $3,976,390. Company insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

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