Insider Buying: The OneMain Holdings, Inc. (NYSE:OMF) Chairman of the Board Just Bought US$392k Worth Of Shares

Potential OneMain Holdings, Inc. (NYSE:OMF) shareholders may wish to note that the Chairman of the Board, Jay Levine, recently bought US$392k worth of stock, paying US$39.23 for each share. Although the purchase only increased their holding by 0.3%, it is still a solid purchase in our view.

View our latest analysis for OneMain Holdings

The Last 12 Months Of Insider Transactions At OneMain Holdings

Notably, that recent purchase by Jay Levine is the biggest insider purchase of OneMain Holdings shares that we've seen in the last year. That means that even when the share price was higher than US$36.75 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. To us, it's very important to consider the price insiders pay for shares is very important. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.

OneMain Holdings insiders may have bought shares in the last year, but they didn't sell any. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

OneMain Holdings is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.

Does OneMain Holdings Boast High Insider Ownership?

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it's a good sign if insiders own a significant number of shares in the company. OneMain Holdings insiders own 3.6% of the company, currently worth about US$180m based on the recent share price. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.

What Might The Insider Transactions At OneMain Holdings Tell Us?

It is good to see recent purchasing. And the longer term insider transactions also give us confidence. Once you factor in the high insider ownership, it certainly seems like insiders are positive about OneMain Holdings. Nice! If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.

Of course OneMain Holdings may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.

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