Seven Eight Capital LP Sells 3,056 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Seven Eight Capital LP reduced its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 15.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,454 shares of the financial services provider’s stock after selling 3,056 shares during the quarter. Seven Eight Capital LP’s holdings in OneMain were worth $841,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. acquired a new position in shares of OneMain in the 4th quarter valued at $36,000. Blue Trust Inc. grew its holdings in shares of OneMain by 49.9% in the 4th quarter. Blue Trust Inc. now owns 730 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 243 shares during the last quarter. ZRC Wealth Management LLC bought a new stake in shares of OneMain in the 4th quarter worth about $45,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of OneMain in the 4th quarter worth about $47,000. Finally, Allworth Financial LP grew its holdings in shares of OneMain by 25.4% in the 4th quarter. Allworth Financial LP now owns 1,339 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 271 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Price Performance

Shares of NYSE OMF traded up $0.62 during mid-day trading on Tuesday, hitting $52.06. The company’s stock had a trading volume of 789,202 shares, compared to its average volume of 953,874. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 0.76 and a beta of 1.58. OneMain Holdings, Inc. has a one year low of $35.00 and a one year high of $53.65. The company’s fifty day simple moving average is $48.92 and its 200-day simple moving average is $48.62.

OneMain (NYSE:OMF) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.07. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $907.93 million. OneMain had a net margin of 13.29% and a return on equity of 20.78%. During the same quarter last year, the firm earned $1.46 EPS. On average, sell-side analysts predict that OneMain Holdings, Inc. will post 5.48 EPS for the current year.

OneMain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 10th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.99%. This is an increase from OneMain’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, May 9th. OneMain’s dividend payout ratio (DPR) is currently 81.09%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OMF. TD Cowen upped their target price on shares of OneMain from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. BMO Capital Markets upped their target price on shares of OneMain from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. BTIG Research initiated coverage on shares of OneMain in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Barclays decreased their price objective on shares of OneMain from $55.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Finally, JMP Securities increased their price objective on shares of OneMain from $59.00 to $60.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.33.

Insider Activity at OneMain

In related news, CEO Douglas H. Shulman sold 19,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $51.37, for a total value of $976,030.00. Following the sale, the chief executive officer now directly owns 451,300 shares in the company, valued at approximately $23,183,281. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Douglas H. Shulman sold 19,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $51.37, for a total value of $976,030.00. Following the sale, the chief executive officer now directly owns 451,300 shares in the company, valued at approximately $23,183,281. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Micah R. Conrad sold 7,500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $50.63, for a total transaction of $379,725.00. Following the completion of the sale, the chief operating officer now owns 119,525 shares in the company, valued at $6,051,550.75. The disclosure for this sale can be found here. Insiders have sold 29,500 shares of company stock worth $1,500,055 in the last ninety days. Company insiders own 0.45% of the company’s stock.

OneMain 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.