OneMain Holdings, Inc. (NYSE:OMF) Short Interest Update

OneMain Holdings, Inc. (NYSE:OMF) saw a large drop in short interest in June. As of June 15th, there was short interest totalling 4,200,000 shares, a drop of 16.8% from the May 31st total of 5,050,000 shares. Based on an average daily volume of 870,800 shares, the short-interest ratio is currently 4.8 days. Currently, 3.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

OMF has been the topic of a number of recent analyst reports. BMO Capital Markets upped their price objective on OneMain from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. JMP Securities lowered their price target on OneMain from $62.00 to $59.00 and set a “market outperform” rating for the company in a report on Tuesday, June 4th. BTIG Research began coverage on shares of OneMain in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Royal Bank of Canada upped their target price on shares of OneMain from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Finally, TD Cowen lifted their price target on shares of OneMain from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.83.

OneMain Trading Up 1.0 %

OMF traded up $0.47 during trading hours on Friday, hitting $48.49. 1,276,772 shares of the company’s stock were exchanged, compared to its average volume of 729,668. The firm has a market cap of $5.81 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 0.72 and a beta of 1.59. OneMain has a 12-month low of $35.00 and a 12-month high of $53.65. The firm has a 50 day moving average of $49.33 and a 200 day moving average of $48.53.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.07. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $907.93 million. OneMain had a return on equity of 20.78% and a net margin of 13.29%. During the same quarter in the prior year, the company earned $1.46 earnings per share. As a group, research analysts expect that OneMain will post 5.57 EPS for the current fiscal year.

OneMain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 10th were given a $1.04 dividend. The ex-dividend date was Thursday, May 9th. This represents a $4.16 dividend on an annualized basis and a yield of 8.58%. This is a positive change from OneMain’s previous quarterly dividend of $1.00. OneMain’s dividend payout ratio (DPR) is currently 81.09%.

Insider Buying and Selling at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 19,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 451,300 shares of the company’s stock, valued at approximately $23,183,281. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Michael A. Hedlund sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $48.10, for a total transaction of $144,300.00. Following the completion of the sale, the senior vice president now directly owns 28,147 shares in the company, valued at $1,353,870.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Douglas H. Shulman sold 19,000 shares of OneMain stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $51.37, for a total transaction of $976,030.00. Following the transaction, the chief executive officer now directly owns 451,300 shares in the company, valued at $23,183,281. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,500 shares of company stock worth $1,500,055. Corporate insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On OneMain

A number of institutional investors and hedge funds have recently made changes to their positions in OMF. Abich Financial Wealth Management LLC lifted its stake in OneMain by 46.1% in the first quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 304 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of OneMain by 7.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,287 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 431 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of OneMain during the 1st quarter worth $493,000. Burney Co. grew its stake in shares of OneMain by 35.6% during the first quarter. Burney Co. now owns 26,812 shares of the financial services provider’s stock worth $1,370,000 after purchasing an additional 7,033 shares in the last quarter. Finally, Swedbank AB purchased a new position in OneMain in the first quarter valued at $817,000. 85.82% of the stock is owned by institutional investors and hedge funds.

About OneMain

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.