WBI Investments LLC Sells 4,304 Shares of OneMain Holdings, Inc. $OMF

Key Points

• WBI Investments LLC reduced its stake in OneMain Holdings, Inc. by 19.5%, selling 4,304 shares and retaining 17,821 shares worth approximately $871,000.
• OneMain reported $1.45 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, with a net margin of 12.63% and a year-over-year revenue increase of 7.1%.
• The company announced a $1.04 quarterly dividend, resulting in an annualized dividend of $4.16 and a yield of 6.8%, with a dividend payout ratio of 75.09%.

WBI Investments LLC reduced its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 19.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,821 shares of the financial services provider's stock after selling 4,304 shares during the period. WBI Investments LLC's holdings in OneMain were worth $871,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Essex Financial Services Inc. boosted its holdings in OneMain by 6.7% in the 1st quarter. Essex Financial Services Inc. now owns 4,591 shares of the financial services provider's stock worth $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 1st quarter. Deutsche Bank AG now owns 36,581 shares of the financial services provider's stock valued at $1,788,000 after buying an additional 290 shares in the last quarter. Allworth Financial LP raised its position in shares of OneMain by 21.7% during the 1st quarter. Allworth Financial LP now owns 1,976 shares of the financial services provider's stock valued at $96,000 after buying an additional 352 shares in the last quarter. Independent Advisor Alliance grew its holdings in shares of OneMain by 2.2% during the 1st quarter. Independent Advisor Alliance now owns 16,479 shares of the financial services provider's stock valued at $805,000 after purchasing an additional 357 shares during the last quarter. Finally, SlateStone Wealth LLC grew its holdings in shares of OneMain by 5.7% during the 1st quarter. SlateStone Wealth LLC now owns 7,474 shares of the financial services provider's stock valued at $365,000 after purchasing an additional 400 shares during the last quarter. 85.82% of the stock is owned by institutional investors.

OneMain Price Performance

OMF opened at $60.78 on Thursday. The company has a 50 day simple moving average of $58.83 and a two-hundred day simple moving average of $52.99. OneMain Holdings, Inc. has a 1-year low of $38.00 and a 1-year high of $63.24. The firm has a market cap of $7.22 billion, a P/E ratio of 10.97, a PEG ratio of 0.47 and a beta of 1.30.

OneMain (NYSE:OMF - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.20. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. OneMain's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 earnings per share. Equities analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.16 annualized dividend and a dividend yield of 6.8%. OneMain's dividend payout ratio is currently 75.09%.

Wall Street Analysts Forecast Growth

OMF has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Barclays lifted their target price on shares of OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company started coverage on shares of OneMain in a research report on Monday, August 25th. They set an "equal weight" rating for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.50.

Insider Activity

In related news, CEO Douglas H. Shulman sold 35,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 275,100 shares of the company's stock, valued at $16,360,197. This trade represents a 11.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Micah R. Conrad sold 4,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.02, for a total transaction of $232,080.00. Following the completion of the transaction, the chief operating officer directly owned 101,007 shares in the company, valued at $5,860,426.14. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,000 shares of company stock worth $3,715,340 in the last ninety days. 0.40% of the stock is currently owned by insiders.

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.

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