Platinum Investment Management Ltd. Sells 617 Shares of OneMain Holdings, Inc. $OMF

Platinum Investment Management Ltd. decreased its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 10.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,104 shares of the financial services provider’s stock after selling 617 shares during the period. Platinum Investment Management Ltd.’s holdings in OneMain were worth $291,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in OMF. Alpine Bank Wealth Management bought a new stake in OneMain during the first quarter valued at $27,000. SVB Wealth LLC bought a new stake in OneMain during the first quarter valued at $34,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in OneMain during the first quarter valued at $42,000. Headlands Technologies LLC bought a new stake in OneMain during the first quarter valued at $46,000. Finally, GAMMA Investing LLC boosted its stake in OneMain by 191.9% during the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock valued at $49,000 after buying an additional 662 shares during the period. Institutional investors own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Wells Fargo & Company initiated coverage on OneMain in a research note on Monday, August 25th. They set an “equal weight” rating for the company. Finally, JPMorgan Chase & Co. lifted their price target on OneMain from $50.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

OneMain Stock Down 1.1%

Shares of OMF stock opened at $55.84 on Thursday. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $63.24. The business has a 50-day moving average price of $59.18 and a two-hundred day moving average price of $54.00. The firm has a market cap of $6.64 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 0.44 and a beta of 1.32.

OneMain (NYSE:OMF) last released its earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.20. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company posted $1.02 EPS. OneMain’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend was Monday, August 4th. OneMain’s payout ratio is 75.09%.

Insider Buying and Selling at OneMain

In other news, CEO Douglas H. Shulman sold 35,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the sale, the chief executive officer owned 275,100 shares of the company’s stock, valued at approximately $16,360,197. The trade was a 11.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.40% 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.