Robertson Stephens Wealth Management LLC Sells 24,104 Shares of OneMain Holdings, Inc. $OMF

Robertson Stephens Wealth Management LLC trimmed its holdings in OneMain Holdings, Inc. (NYSE:OMF) by 61.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,441 shares of the financial services provider’s stock after selling 24,104 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in OneMain were worth $880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OMF. Kingstone Capital Partners Texas LLC bought a new position in OneMain in the 2nd quarter worth approximately $611,102,000. Nuveen LLC bought a new position in OneMain in the 1st quarter worth approximately $48,282,000. Cooperman Leon G boosted its stake in OneMain by 187.7% in the 1st quarter. Cooperman Leon G now owns 889,000 shares of the financial services provider’s stock worth $43,454,000 after purchasing an additional 580,000 shares during the period. Fiduciary Management Inc. WI boosted its stake in OneMain by 21.8% in the 1st quarter. Fiduciary Management Inc. WI now owns 2,647,875 shares of the financial services provider’s stock worth $129,428,000 after purchasing an additional 474,161 shares during the period. Finally, Certuity LLC boosted its stake in OneMain by 86.0% in the 1st quarter. Certuity LLC now owns 930,012 shares of the financial services provider’s stock worth $45,459,000 after purchasing an additional 430,011 shares during the period. 85.82% of the stock is currently owned by institutional investors.

OneMain Stock Performance

NYSE:OMF opened at $52.15 on Friday. The stock’s fifty day moving average is $58.73 and its 200 day moving average is $54.25. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $63.24. The firm has a market capitalization of $6.20 billion, a PE ratio of 9.41, a PEG ratio of 0.41 and a beta of 1.32.

OneMain (NYSE:OMF) last released its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm posted $1.02 EPS. OneMain’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts forecast that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 8.0%. The ex-dividend date was Monday, August 4th. OneMain’s dividend payout ratio is presently 75.09%.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research firms have weighed in on OMF. Barclays upped their price target on OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $57.00 target price (down from $63.00) on shares of OneMain in a research report on Tuesday, October 7th. Wells Fargo & Company started coverage on OneMain in a research report on Monday, August 25th. They set an “equal weight” rating for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research report on Wednesday. Finally, Wall Street Zen downgraded OneMain from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.75.

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.