OneMain Holdings, Inc. $OMF Shares Sold by WBI Investments LLC

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 trimmed its stake in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 19.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 quarter.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in shares of OneMain by 56.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 121,577 shares of the financial services provider's stock worth $5,966,000 after acquiring an additional 43,915 shares in the last quarter. GAMMA Investing LLC raised its position in shares of OneMain by 191.9% in the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock worth $49,000 after acquiring an additional 662 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of OneMain by 5.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,851 shares of the financial services provider's stock worth $1,251,000 after acquiring an additional 1,441 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of OneMain in the 1st quarter worth $853,000. Finally, SG Americas Securities LLC raised its position in shares of OneMain by 171.9% in the 1st quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider's stock worth $532,000 after acquiring an additional 6,875 shares in the last quarter. 85.82% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Douglas H. Shulman sold 35,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly owned 275,100 shares of the company's stock, valued at approximately $16,360,197. This represents a 11.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Micah R. Conrad sold 4,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.02, for a total value of $232,080.00. Following the sale, the chief operating officer directly owned 101,007 shares of the company's stock, valued at $5,860,426.14. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,000 shares of company stock valued at $2,664,140. Insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

OMF has been the subject of several recent research reports. Wells Fargo & Company assumed coverage on OneMain in a research report on Monday, August 25th. They issued an "equal weight" rating for the company. JPMorgan Chase & Co. upped their target price on OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Finally, Barclays upped their target price on OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. One 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.50.

OneMain Stock Down 1.8%

Shares of OMF traded down $1.12 during mid-day trading on Tuesday, reaching $60.32. The company had a trading volume of 261,348 shares, compared to its average volume of 1,063,156. The stock has a market capitalization of $7.17 billion, a P/E ratio of 10.89, a PEG ratio of 0.47 and a beta of 1.30. The stock has a 50 day moving average of $58.94 and a two-hundred day moving average of $53.16. OneMain Holdings, Inc. has a 52-week low of $38.00 and a 52-week high of $63.24.

OneMain (NYSE:OMF - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping 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 return on equity of 20.65% and a net margin of 12.63%.OneMain's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.02 earnings per share. On average, sell-side analysts expect that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were issued a $1.04 dividend. The ex-dividend date was Monday, August 4th. This represents a $4.16 dividend on an annualized basis and a yield of 6.9%. OneMain's dividend payout ratio (DPR) is 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.