OneMain (NYSE:OMF) CEO Douglas Shulman Sells 35,000 Shares of Stock

OneMain Holdings, Inc. (NYSE:OMF) CEO Douglas Shulman sold 35,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $59.54, for a total value of $2,083,900.00. Following the completion of the transaction, the chief executive officer directly owned 231,600 shares of the company’s stock, valued at $13,789,464. This represents a 13.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

OneMain Stock Performance

Shares of NYSE:OMF opened at $60.90 on Thursday. The stock has a 50 day moving average price of $58.36 and a 200-day moving average price of $55.81. The firm has a market capitalization of $7.17 billion, a P/E ratio of 10.99, a P/E/G ratio of 0.45 and a beta of 1.37. OneMain Holdings, Inc. has a 52-week low of $38.00 and a 52-week high of $63.24.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.32. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company earned $1.31 earnings per share. On average, equities analysts forecast that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 10th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Monday, November 10th. This is an increase from OneMain’s previous quarterly dividend of $1.04. This represents a $4.20 annualized dividend and a dividend yield of 6.9%. OneMain’s dividend payout ratio is presently 71.19%.

Institutional Trading of OneMain

A number of large investors have recently made changes to their positions in OMF. Root Financial Partners LLC purchased a new stake in shares of OneMain in the 3rd quarter worth $26,000. Activest Wealth Management lifted its stake in OneMain by 1,102.1% in the third quarter. Activest Wealth Management now owns 577 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 529 shares during the period. SVB Wealth LLC purchased a new stake in OneMain in the first quarter worth about $34,000. Bayforest Capital Ltd lifted its stake in OneMain by 591.8% in the third quarter. Bayforest Capital Ltd now owns 671 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 574 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of OneMain by 57.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 718 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 262 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on OMF. JPMorgan Chase & Co. boosted their price target on OneMain from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Monday. Citizens Jmp increased their price target on OneMain from $63.00 to $70.00 and gave the company a “market outperform” rating in a research note on Monday. Wells Fargo & Company initiated coverage on OneMain in a research report on Monday, August 25th. They set an “equal weight” rating for the company. Citigroup reissued an “outperform” rating on shares of OneMain in a research note on Monday. Finally, Royal Bank Of Canada lifted their price objective on shares of OneMain from $68.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.13.

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.