Wedge Capital Management L L P NC Trims Position in OneMain Holdings, Inc. $OMF

Key Points

• Wedge Capital Management L L P NC reduced its stake in OneMain Holdings by 8.6%, selling 9,784 shares and now owns 103,585 shares valued at approximately $5.9 million.
• OneMain recently announced a quarterly dividend of $1.04 per share, reflecting an annualized yield of 6.8% with a payout ratio of 75.09%.
• In their latest earnings report, OneMain exceeded analysts' expectations by posting $1.45 earnings per share, along with a 7.1% year-over-year revenue increase to $1.20 billion.

Wedge Capital Management L L P NC trimmed its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 8.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,585 shares of the financial services provider's stock after selling 9,784 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.09% of OneMain worth $5,904,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in OMF. Assenagon Asset Management S.A. acquired a new position in shares of OneMain in the 2nd quarter valued at about $1,036,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of OneMain in the 2nd quarter worth approximately $611,102,000. Marshall Financial Group LLC purchased a new position in shares of OneMain in the second quarter worth approximately $1,050,000. Wealth Enhancement Advisory Services LLC increased its position in shares of OneMain by 48.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,189 shares of the financial services provider's stock worth $1,266,000 after acquiring an additional 6,920 shares in the last quarter. Finally, Pallas Capital Advisors LLC purchased a new position in OneMain during the second quarter valued at approximately $350,000. 85.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

OneMain Stock Down 0.4%

Shares of NYSE OMF traded down $0.22 during trading hours on Tuesday, reaching $60.23. 334,611 shares of the stock traded hands, compared to its average volume of 1,058,834. The company has a market capitalization of $7.16 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 0.47 and a beta of 1.30. OneMain Holdings, Inc. has a 52-week low of $38.00 and a 52-week high of $63.24. The company's 50-day simple moving average is $59.11 and its two-hundred day simple moving average is $53.54.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 earnings per share 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 analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $1.02 EPS. As a group, sell-side analysts forecast that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Monday, August 4th. OneMain's dividend payout ratio is presently 75.09%.

Insiders Place Their Bets

In other news, COO Micah R. Conrad sold 4,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.02, for a total transaction of $232,080.00. Following the transaction, the chief operating officer directly owned 101,007 shares of the company's stock, valued at $5,860,426.14. This represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Douglas H. Shulman sold 35,000 shares of the company's 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 transaction, the chief executive officer directly owned 275,100 shares in the company, valued at approximately $16,360,197. The trade was a 11.29% 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 worth $2,664,140. Corporate insiders own 0.40% of the company's stock.

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.