Envestnet Asset Management Inc. Acquires 2,380 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Envestnet Asset Management Inc. lifted its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,782 shares of the financial services provider’s stock after acquiring an additional 2,380 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of OneMain worth $4,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ieq Capital LLC purchased a new position in shares of OneMain during the 4th quarter worth approximately $896,000. Orion Portfolio Solutions LLC boosted its position in shares of OneMain by 66.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 17,681 shares of the financial services provider’s stock valued at $922,000 after purchasing an additional 7,060 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in OneMain by 15.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,263 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 569 shares during the period. IFP Advisors Inc raised its holdings in OneMain by 180.0% in the fourth quarter. IFP Advisors Inc now owns 770 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 495 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in OneMain by 12.1% during the third quarter. Principal Financial Group Inc. now owns 805,256 shares of the financial services provider’s stock valued at $37,903,000 after buying an additional 87,084 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Activity

In other news, SVP Michael A. Hedlund sold 2,808 shares of OneMain stock in a transaction on Friday, February 21st. The shares were sold at an average price of $56.09, for a total transaction of $157,500.72. Following the transaction, the senior vice president now owns 15,831 shares in the company, valued at $887,960.79. This trade represents a 15.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OMF. Northland Capmk upgraded shares of OneMain from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Barclays set a $56.00 target price on shares of OneMain in a research note on Friday, March 14th. Northland Securities upgraded shares of OneMain from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 8th. JMP Securities restated a “market outperform” rating and issued a $65.00 price target on shares of OneMain in a research note on Monday, February 3rd. Finally, Stephens reiterated an “overweight” rating and set a $62.00 price objective on shares of OneMain in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $58.17.

OneMain Stock Performance

Shares of NYSE:OMF opened at $46.60 on Thursday. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $58.90. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 0.44 and a beta of 1.35. The business has a 50-day simple moving average of $48.47 and a two-hundred day simple moving average of $51.62.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 8.93%. The ex-dividend date of this dividend was Wednesday, February 12th. OneMain’s payout ratio is currently 98.11%.

OneMain Company 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.