First Trust Advisors LP Reduces Position in OneMain Holdings, Inc. $OMF

First Trust Advisors LP lessened its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 9.4% in the first quarter, Holdings Channel.com reports. The firm owned 946,306 shares of the financial services provider’s stock after selling 98,243 shares during the period. First Trust Advisors LP’s holdings in OneMain were worth $50,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OMF. Csenge Advisory Group increased its position in shares of 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 purchasing an additional 167 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in OneMain by 4.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,075 shares of the financial services provider’s stock worth $275,000 after buying an additional 174 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in OneMain by 9.1% in the second quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider’s stock worth $120,000 after buying an additional 176 shares in the last quarter. New York State Teachers Retirement System boosted its stake in OneMain by 1.7% in the first quarter. New York State Teachers Retirement System now owns 11,131 shares of the financial services provider’s stock worth $595,000 after buying 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 acquiring an additional 190 shares during the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $62.00, for a total value of $310,000.00. Following the sale, the chief operating officer directly owned 96,250 shares in the company, valued at approximately $5,967,500. This trade represents a 4.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 1,848 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president directly owned 13,127 shares in the company, valued at $813,874. This trade represents a 12.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.29% of the company’s stock.

OneMain Trading Down 0.0%

OMF stock opened at $59.72 on Monday. The firm’s 50-day moving average price is $57.44 and its two-hundred day moving average price is $57.90. OneMain Holdings, Inc. has a 12-month low of $45.78 and a 12-month high of $71.93. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 0.46 and a beta of 1.22.

OneMain (NYSE:OMF) last posted its earnings results 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 company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.27 billion. OneMain had a net margin of 14.38% and a return on equity of 24.24%. OneMain’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.72 earnings per share. Equities analysts predict that OneMain Holdings, Inc. will post 7.14 EPS for the current year.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 11th were issued a $1.05 dividend. The ex-dividend date was Monday, May 11th. This represents a $4.20 annualized dividend and a yield of 7.0%. OneMain’s dividend payout ratio (DPR) is 62.50%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays decreased their price target on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 7th. BTIG Research reaffirmed a “neutral” rating on shares of OneMain in a report on Thursday, April 16th. JPMorgan Chase & Co. decreased their target price on shares of OneMain from $63.00 to $55.00 and set an “underweight” rating on the stock in a research report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of OneMain in a research note on Friday, July 10th. Finally, Evercore set a $66.00 price objective on OneMain in a research note on Monday, July 6th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.80.

OneMain Company Profile

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.