OneMain (NYSE:OMF) SVP Michael Hedlund Sells 1,848 Shares

Key Points

• OneMain SVP Michael Hedlund sold 1,848 shares at an average price of $62.00, totaling $114,576. After the transaction, he still owned 13,127 shares, and the sale was made under a pre-arranged Rule 10b5-1 plan.
• OneMain reported better-than-expected quarterly results, with EPS of $1.95 versus the $1.86 estimate and revenue of $1.58 billion versus the $1.27 billion forecast. Revenue rose 6.7% year over year, and the company posted a 24.24% return on equity.
• The company continues to offer a high dividend yield, recently paying a $1.05 quarterly dividend that annualizes to $4.20 per share, or a 6.9% yield. Analysts remain generally constructive, with a consensus rating of Moderate Buy and an average price target of $68.30.

OneMain Holdings, Inc. (NYSE:OMF - Get Free Report) SVP Michael Hedlund sold 1,848 shares of the firm's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $62.00, for a total value of $114,576.00. Following the completion of the sale, the senior vice president owned 13,127 shares in the company, valued at $813,874. The trade was a 12.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

OneMain Stock Performance

Shares of OMF traded down $1.41 during midday trading on Tuesday, hitting $60.95. 1,176,958 shares of the stock traded hands, compared to its average volume of 1,391,792. The business's 50 day moving average price is $56.32 and its two-hundred day moving average price is $59.06. The firm has a market capitalization of $7.04 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 0.45 and a beta of 1.24. OneMain Holdings, Inc. has a 1-year low of $45.78 and a 1-year high of $71.93.

OneMain (NYSE:OMF - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.09. The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.27 billion. OneMain had a net margin of 14.38% and a return on equity of 24.24%. The company's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 EPS. As a group, equities research analysts forecast that OneMain Holdings, Inc. will post 7.35 EPS for the current fiscal year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 11th were paid a $1.05 dividend. The ex-dividend date was Monday, May 11th. This represents a $4.20 annualized dividend and a dividend yield of 6.9%. OneMain's dividend payout ratio (DPR) is presently 62.50%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OMF shares. Wells Fargo & Company reduced their price objective on OneMain from $70.00 to $65.00 and set an "equal weight" rating for the company in a research report on Thursday, April 9th. Royal Bank Of Canada cut their target price on OneMain from $73.00 to $70.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Evercore set a $55.00 price target on OneMain in a research report on Tuesday, March 17th. BTIG Research reissued a "neutral" rating on shares of OneMain in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. lowered their price target on OneMain from $63.00 to $55.00 and set an "underweight" rating on the stock in a report on Thursday, April 9th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $68.30.

Institutional Investors Weigh In On OneMain

A number of institutional investors have recently added to or reduced their stakes in the company. Csenge Advisory Group grew its stake in OneMain by 4.1% during the 4th quarter. Csenge Advisory Group now owns 4,239 shares of the financial services provider's stock valued at $286,000 after acquiring an additional 167 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of OneMain by 4.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,075 shares of the financial services provider's stock worth $275,000 after purchasing an additional 174 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of OneMain by 9.1% during the second quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider's stock worth $120,000 after purchasing an additional 176 shares during the period. New York State Teachers Retirement System grew its position in OneMain by 1.7% during the first quarter. New York State Teachers Retirement System now owns 11,131 shares of the financial services provider's stock valued at $595,000 after purchasing an additional 189 shares in the last quarter. Finally, Generali Asset Management SPA SGR grew its position in OneMain by 5.9% during the fourth quarter. Generali Asset Management SPA SGR now owns 3,413 shares of the financial services provider's stock valued at $231,000 after purchasing an additional 190 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

About OneMain

OneMain Financial NYSE: OMF is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.

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