OneMain Holdings, Inc. (NYSE:OMF) President and CEO Douglas H. Shulman has sold a portion of his company shares, according to a recent SEC filing. On May 8, 2024, Shulman sold 19,000 shares of OneMain Holdings at a weighted average price of $51.3747, totaling approximately $976,119. The transactions occurred in multiple sales with prices ranging from $51.25 to $51.51.
This sale marks a notable change for Shulman, who had not sold any shares since becoming CEO in 2018, except for deemed dispositions to meet tax obligations from vested restricted stock units. The SEC filing also revealed that Shulman has set up a trading plan in accordance with Rule 10b5-1(c), which allows company insiders to sell their shares at predetermined times to avoid accusations of insider trading. Under this new trading plan, Shulman intends to sell up to 25,000 shares by May 7, 2025.
Despite the sale, Shulman remains a significant shareholder, with a post-transaction holding of 451,300 shares in the company. The sale and the adoption of the trading plan are part of Shulman's financial and estate planning strategies. Even if all the planned sales under the trading plan are executed, he will still own more shares than required by the company's stock ownership policy.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. Shulman's sale comes with the reassurance that his remaining stake aligns with the company's ownership guidelines, suggesting continued confidence in OneMain Holdings' long-term value.
InvestingPro Insights
Following the recent news of OneMain Holdings, Inc. (NYSE:OMF) CEO Douglas H. Shulman's stock sale, a closer look at the company's financial health and stock performance through InvestingPro metrics may offer investors additional context. With a market capitalization of $6.19 billion and a P/E ratio that has held steady around 10.03 in the last twelve months as of Q1 2024, OneMain Holdings presents a valuation that may catch the eye of value-focused investors.
InvestingPro data also reveals a dividend yield of 8.22% as of the date of the last dividend, which was on February 16, 2024. This significant yield is a testament to the company's commitment to returning value to shareholders, a factor that may be appealing for income investors. Moreover, OneMain Holdings has shown a strong price total return of 20.15% over the last three months, which could be indicative of a positive market sentiment.
When it comes to InvestingPro Tips, it's notable that analysts predict the company will be profitable this year, and the firm has been profitable over the last twelve months. This is coupled with a high return over the last year, suggesting robust performance despite market fluctuations. For investors seeking more insights, there are additional InvestingPro Tips available for OneMain Holdings, providing a deeper dive into the company's prospects and performance. Interested readers can enhance their investment strategy with these tips by visiting InvestingPro and using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.