Shares of OneMain Holdings Inc (NYSE:OMF) saw an uptick in trading volume on Monday after an insider bought additional shares in the company. 2,083,800 shares traded hands during mid-day trading, an increase of 238% from the previous session’s volume of 616,597 shares.The stock last traded at $28.87 and had previously closed at $27.66.
Specifically, Director Jay N. Levine acquired 10,000 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was bought at an average cost of $29.93 per share, for a total transaction of $299,300.00. Following the completion of the purchase, the director now directly owns 3,092,296 shares in the company, valued at $92,552,419.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay N. Levine acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, November 14th. The shares were acquired at an average price of $29.61 per share, with a total value of $444,150.00. Following the completion of the purchase, the director now owns 3,092,296 shares of the company’s stock, valued at $91,562,884.56. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 35,000 shares of company stock valued at $1,019,950. 43.93% of the stock is owned by insiders.
Several research firms have issued reports on OMF. Zacks Investment Research upgraded shares of OneMain from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Tuesday, August 7th. Barclays boosted their price objective on shares of OneMain from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. BMO Capital Markets boosted their price objective on shares of OneMain from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 1st. Finally, ValuEngine downgraded shares of OneMain from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. OneMain presently has a consensus rating of “Buy” and a consensus target price of $38.70.
OneMain (NYSE:OMF) last posted its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.03. OneMain had a net margin of 8.27% and a return on equity of 18.65%. The firm had revenue of $933.00 million for the quarter, compared to the consensus estimate of $852.42 million. During the same period in the prior year, the firm posted $0.91 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. On average, research analysts forecast that OneMain Holdings Inc will post 5 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of OMF. Apollo Management Holdings L.P. acquired a new stake in shares of OneMain during the second quarter worth $1,828,869,000. Toscafund Asset Management LLP acquired a new stake in shares of OneMain during the third quarter worth $37,475,000. Matarin Capital Management LLC acquired a new stake in shares of OneMain during the third quarter worth $13,502,000. Panagora Asset Management Inc. raised its holdings in shares of OneMain by 3,910.5% during the third quarter. Panagora Asset Management Inc. now owns 298,462 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 291,020 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of OneMain by 7.7% during the third quarter. BlackRock Inc. now owns 3,415,729 shares of the financial services provider’s stock worth $114,801,000 after purchasing an additional 245,159 shares during the period. 90.57% of the stock is currently owned by institutional investors.
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About OneMain (NYSE:OMF)
OneMain Holdings, Inc, through its subsidiaries, provides consumer finance and insurance products and services. The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing. It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.
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