Wellington Management Group LLP Sells 1,427,364 Shares of OneMain Holdings, Inc. $OMF

Key Points

• Wellington Management Group LLP substantially reduced its stake in OneMain Holdings by 63.4%, selling over 1.4 million shares, leaving it with approximately 0.69% ownership valued at $40.2 million.
• OneMain reported a quarterly earnings per share (EPS) of $1.45, exceeding analyst expectations of $1.25, while its revenue increased by 7.1% year-over-year to $1.20 billion.
• The company announced a quarterly dividend of $1.04, yielding 6.9% annually, with a dividend payout ratio of 75.09%.

Wellington Management Group LLP lessened its stake in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 63.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 822,398 shares of the financial services provider's stock after selling 1,427,364 shares during the period. Wellington Management Group LLP owned 0.69% of OneMain worth $40,199,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nuveen LLC bought a new stake in shares of OneMain during the 1st quarter valued at $48,282,000. Azora Capital LP bought a new stake in shares of OneMain during the 4th quarter valued at $39,650,000. Certuity LLC raised its position in shares of OneMain by 86.0% during the 1st quarter. Certuity LLC now owns 930,012 shares of the financial services provider's stock valued at $45,459,000 after acquiring an additional 430,011 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of OneMain during the 4th quarter valued at $15,566,000. Finally, Royal Bank of Canada raised its position in shares of OneMain by 47.5% during the 4th quarter. Royal Bank of Canada now owns 901,176 shares of the financial services provider's stock valued at $46,979,000 after acquiring an additional 290,323 shares during the last quarter. Institutional investors own 85.82% of the company's stock.

Insider Activity

In other OneMain news, COO Micah R. Conrad sold 4,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.02, for a total value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas H. Shulman sold 35,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 275,100 shares in the company, valued at $16,360,197. This represents a 11.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,000 shares of company stock worth $3,715,340. Insiders own 0.40% of the company's stock.

OneMain Trading Up 0.4%

Shares of OneMain stock traded up $0.26 during trading hours on Friday, reaching $61.85. 642,396 shares of the company's stock were exchanged, compared to its average volume of 853,194. The company has a 50 day moving average of $58.04 and a two-hundred day moving average of $52.70. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $62.02. The stock has a market cap of $7.35 billion, a P/E ratio of 11.16, a P/E/G ratio of 0.48 and a beta of 1.29.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.20. The company had revenue of $1.20 billion during 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%. The company's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 EPS. As a group, analysts expect that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Announces Dividend

The business 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 6.7%. The ex-dividend date of this dividend was Monday, August 4th. OneMain's dividend payout ratio is currently 75.09%.

Analyst Upgrades and Downgrades

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

OneMain 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.