OneMain Sees Unusually Large Options Volume (OMF)

OneMain Holdings Inc (NYSE:OMF) was the recipient of unusually large options trading on Monday. Investors bought 2,660 put options on the company. This represents an increase of 1,115% compared to the typical volume of 219 put options.

OMF has been the subject of a number of research reports. Compass Point lowered OneMain from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a research report on Friday, November 3rd. Northland Securities reiterated a “hold” rating and issued a $35.00 price objective on shares of OneMain in a research report on Friday, November 3rd. BMO Capital Markets lifted their price objective on OneMain from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. ValuEngine lowered OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, Bank of America cut OneMain from a “buy” rating to a “neutral” rating in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $34.62.

Shares of OneMain (NYSE:OMF) traded up $0.62 on Wednesday, reaching $32.31. The company’s stock had a trading volume of 1,081,464 shares, compared to its average volume of 1,044,611. OneMain has a 12-month low of $22.04 and a 12-month high of $35.11. The company has a market capitalization of $4,174.18, a PE ratio of 25.64, a P/E/G ratio of 1.35 and a beta of 2.86.

In related news, Director Wesley R. Edens sold 1,000,000 shares of OneMain stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $26.00, for a total value of $26,000,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fortress Investment Group Llc sold 7,500,000 shares of OneMain stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $25.10, for a total value of $188,250,000.00. The disclosure for this sale can be found here. 57.73% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of OMF. Principal Financial Group Inc. bought a new position in OneMain during the second quarter worth about $237,000. JPMorgan Chase & Co. lifted its holdings in shares of OneMain by 103.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,336 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 2,200 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of OneMain by 3.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 164,059 shares of the financial services provider’s stock valued at $4,034,000 after purchasing an additional 5,622 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in shares of OneMain by 559.5% during the 2nd quarter. Nationwide Fund Advisors now owns 65,860 shares of the financial services provider’s stock valued at $1,619,000 after purchasing an additional 55,874 shares in the last quarter. Finally, Amalgamated Bank bought a new position in shares of OneMain during the 2nd quarter valued at about $238,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

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OneMain Company Profile

OneMain Holdings, Inc is a financial services holding company. The Company is a consumer finance company, which is engaged in providing personal loan products; credit and non-credit insurance, and service loans owned by it and service or subservice loans owned by third-parties. The Company’s segments include Consumer and Insurance; Acquisitions and Servicing; Real Estate, and Other.

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