OneMain Holdings, Inc. (NYSE:OMF) Shares Acquired by Essex Financial Services Inc.

by · The Markets Daily

Essex Financial Services Inc. lifted its stake in shares of OneMain Holdings, Inc. (NYSE:OMF – Free Report) by 6.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,591 shares of the financial services provider’s stock after acquiring an additional 288 shares during the quarter. Essex Financial Services Inc.’s holdings in OneMain were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in shares of OneMain during the first quarter worth $27,000. IFP Advisors Inc increased its position in shares of OneMain by 180.0% during the fourth quarter. IFP Advisors Inc now owns 770 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 495 shares during the period. GAMMA Investing LLC increased its position in shares of OneMain by 191.9% during the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 662 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in shares of OneMain during the fourth quarter worth $57,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of OneMain during the first quarter worth $54,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OMF. Barclays set a $56.00 target price on shares of OneMain in a research note on Friday, March 14th. Northland Securities upgraded shares of OneMain from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their target price on shares of OneMain from $57.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. JMP Securities reiterated a “market outperform” rating and set a $65.00 target price on shares of OneMain in a research note on Wednesday, April 30th. Finally, Evercore ISI began coverage on shares of OneMain in a research note on Tuesday, March 25th. They set an “in-line” rating and a $58.00 target price for the company. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, OneMain presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.40.

Check Out Our Latest Analysis on OneMain

Insider Transactions at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $52.21, for a total value of $261,050.00. Following the completion of the sale, the chief operating officer directly owned 108,007 shares of the company’s stock, valued at approximately $5,639,045.47. This represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas H. Shulman sold 20,000 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $52.56, for a total transaction of $1,051,200.00. Following the completion of the sale, the chief executive officer directly owned 323,925 shares of the company’s stock, valued at $17,025,498. The trade was a 5.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,000 shares of company stock valued at $4,499,500 over the last ninety days. Corporate insiders own 0.40% of the company’s stock.

OneMain Price Performance

NYSE OMF opened at $58.22 on Wednesday. OneMain Holdings, Inc. has a 1 year low of $38.00 and a 1 year high of $58.96. The company has a market capitalization of $6.93 billion, a PE ratio of 12.31, a P/E/G ratio of 0.49 and a beta of 1.32. The company has a fifty day moving average of $51.76 and a two-hundred day moving average of $51.49.

OneMain (NYSE:OMF – Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.17. OneMain had a net margin of 11.06% and a return on equity of 19.30%. The company had revenue of $188.00 million during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. OneMain’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts expect that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were issued a $1.04 dividend. The ex-dividend date was Friday, May 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.15%. OneMain’s payout ratio is 87.95%.

OneMain Profile

(Free Report)

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.

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