AIA Group Ltd Acquires New Shares in OneMain Holdings, Inc. (NYSE:OMF)

AIA Group Ltd acquired a new stake in OneMain Holdings, Inc. (NYSE:OMF) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,683 shares of the financial services provider’s stock, valued at approximately $495,000.

Other large investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. acquired a new position in OneMain in the fourth quarter valued at approximately $36,000. Blue Trust Inc. lifted its holdings in OneMain by 49.9% in the fourth quarter. Blue Trust Inc. now owns 730 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 243 shares during the last quarter. ZRC Wealth Management LLC acquired a new position in OneMain in the fourth quarter valued at approximately $45,000. Edmond DE Rothschild Holding S.A. acquired a new position in OneMain in the fourth quarter valued at approximately $47,000. Finally, Allworth Financial LP lifted its stake in OneMain by 25.4% during the fourth 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 in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 19,000 shares of the firm’s 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 owns 451,300 shares of the company’s stock, valued at $23,183,281. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other OneMain news, CEO Douglas H. Shulman sold 19,000 shares of the firm’s 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 owns 451,300 shares of the company’s stock, valued at $23,183,281. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael A. Hedlund sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.10, for a total value of $144,300.00. Following the transaction, the senior vice president now directly owns 28,147 shares in the company, valued at approximately $1,353,870.70. The disclosure for this sale can be found here. Insiders have sold 29,500 shares of company stock valued at $1,500,055 over the last quarter. 0.45% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

OMF has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on OneMain from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday. TD Cowen upped their price target on OneMain from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada upped their price target on OneMain from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Barclays decreased their price target on OneMain from $55.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, BMO Capital Markets upped their price target on OneMain from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, OneMain presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.25.

OneMain Trading Up 0.6 %

NYSE:OMF traded up $0.31 during trading hours on Friday, hitting $49.51. The company’s stock had a trading volume of 583,520 shares, compared to its average volume of 965,447. The stock has a market capitalization of $5.93 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 0.72 and a beta of 1.58. The stock has a fifty day moving average of $48.83 and a 200-day moving average of $48.49. OneMain Holdings, Inc. has a 52-week low of $35.00 and a 52-week high of $53.65.

OneMain (NYSE:OMF) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.38 by $0.07. The firm 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 posted $1.46 earnings per share. On average, sell-side analysts forecast that OneMain Holdings, Inc. will post 5.47 earnings per share for the current year.

OneMain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 8.40%. The ex-dividend date was Thursday, May 9th. This is a positive change from OneMain’s previous quarterly dividend of $1.00. OneMain’s dividend payout ratio is 81.09%.

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.