OneMain (NYSE:OMF) CEO Douglas Shulman Sells 57,500 Shares

by · The Cerbat Gem

OneMain Holdings, Inc. (NYSE:OMF – Get Free Report) CEO Douglas Shulman sold 57,500 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $68.41, for a total value of $3,933,575.00. Following the transaction, the chief executive officer directly owned 174,100 shares in the company, valued at approximately $11,910,181. This trade represents a 24.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

OneMain Trading Up 2.2%

Shares of OMF traded up $1.46 during mid-day trading on Friday, reaching $69.01. The company’s stock had a trading volume of 850,587 shares, compared to its average volume of 941,305. OneMain Holdings, Inc. has a 1-year low of $38.00 and a 1-year high of $70.17. The business has a 50-day simple moving average of $63.06 and a two-hundred day simple moving average of $59.65. The stock has a market cap of $8.12 billion, a P/E ratio of 11.70, a PEG ratio of 0.45 and a beta of 1.33.

OneMain (NYSE:OMF – Get Free Report) last announced its quarterly earnings results on Friday, October 31st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.32. OneMain had a return on equity of 22.70% and a net margin of 13.15%.The business had revenue of $747.00 million during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the firm posted $1.31 EPS. Research analysts anticipate that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 10th were issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend was Monday, November 10th. This is a positive change from OneMain’s previous quarterly dividend of $1.04. OneMain’s payout ratio is presently 71.19%.

Hedge Funds Weigh In On OneMain

A number of hedge funds have recently added to or reduced their stakes in OMF. JPMorgan Chase & Co. lifted its position in shares of OneMain by 33.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 289,943 shares of the financial services provider’s stock valued at $16,370,000 after acquiring an additional 72,688 shares during the period. Triumph Capital Management acquired a new position in OneMain in the third quarter valued at about $379,000. Allworth Financial LP lifted its position in OneMain by 48.0% during the third quarter. Allworth Financial LP now owns 3,116 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 1,011 shares during the period. Swiss Life Asset Management Ltd bought a new stake in OneMain during the third quarter worth about $302,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in OneMain during the third quarter worth about $970,000. Institutional investors own 85.82% of the company’s stock.

Analyst Upgrades and Downgrades

OMF has been the subject of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a research report on Monday. Citizens Jmp lowered their target price on OneMain from $70.00 to $68.00 and set a “market outperform” rating on the stock in a research note on Monday, November 24th. Truist Financial started coverage on OneMain in a research note on Monday, December 8th. They issued a “buy” rating and a $75.00 price target for the company. JMP Securities set a $68.00 price objective on OneMain in a report on Monday, November 24th. Finally, Wall Street Zen cut OneMain from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

View Our Latest Analysis on OneMain

About OneMain

(Get Free Report)

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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