Seven Eight Capital LP Acquires 6,443 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Seven Eight Capital LP lifted its stake in OneMain Holdings, Inc. (NYSE:OMF) by 39.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,897 shares of the financial services provider’s stock after purchasing an additional 6,443 shares during the quarter. Seven Eight Capital LP’s holdings in OneMain were worth $1,110,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new stake in shares of OneMain in the second quarter worth $31,000. International Assets Investment Management LLC purchased a new stake in OneMain during the 2nd quarter valued at about $34,000. Blue Trust Inc. increased its stake in OneMain by 43.4% during the 2nd quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in OneMain in the fourth quarter worth about $47,000. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of 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 buying an additional 304 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OMF. Northland Securities boosted their price objective on shares of OneMain from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their price target on OneMain from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 target price on shares of OneMain in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of OneMain from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Finally, Barclays decreased their price objective on shares of OneMain from $55.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.25.

Insider Activity at OneMain

In other OneMain news, COO Micah R. Conrad sold 1,614 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $50.00, for a total transaction of $80,700.00. Following the sale, the chief operating officer now directly owns 110,411 shares of the company’s stock, valued at $5,520,550. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other OneMain news, CEO Douglas H. Shulman sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $46.30, for a total value of $694,500.00. Following the completion of the transaction, the chief executive officer now directly owns 422,474 shares in the company, valued at approximately $19,560,546.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Micah R. Conrad sold 1,614 shares of OneMain stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $50.00, for a total transaction of $80,700.00. Following the sale, the chief operating officer now owns 110,411 shares in the company, valued at approximately $5,520,550. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,300 shares of company stock worth $1,534,275. 0.45% of the stock is owned by corporate insiders.

OneMain Stock Performance

Shares of OneMain stock opened at $49.08 on Friday. The stock has a market cap of $5.88 billion, a P/E ratio of 9.57, a P/E/G ratio of 0.72 and a beta of 1.56. The stock’s fifty day moving average is $48.23 and its 200 day moving average is $48.77. OneMain Holdings, Inc. has a one year low of $35.00 and a one year high of $54.94.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.12. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $918.74 million. OneMain had a return on equity of 20.63% and a net margin of 12.33%. During the same period in the previous year, the firm earned $1.01 EPS. Analysts predict that OneMain Holdings, Inc. will post 5.2 EPS for the current year.

OneMain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $4.16 annualized dividend and a dividend yield of 8.48%. OneMain’s payout ratio is 81.09%.

OneMain Company 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.