Bank of America Corp DE Has $16.61 Million Position in OneMain Holdings, Inc. (NYSE:OMF)

Bank of America Corp DE lifted its holdings in OneMain Holdings, Inc. (NYSE:OMF) by 7.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 318,669 shares of the financial services provider’s stock after acquiring an additional 22,860 shares during the period. Bank of America Corp DE owned approximately 0.27% of OneMain worth $16,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in OneMain by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 11,889,113 shares of the financial services provider’s stock worth $619,779,000 after purchasing an additional 40,042 shares in the last quarter. FMR LLC increased its stake in shares of OneMain by 14.3% in the 4th quarter. FMR LLC now owns 10,835,668 shares of the financial services provider’s stock valued at $564,863,000 after acquiring an additional 1,352,604 shares in the last quarter. Capital International Investors lifted its position in shares of OneMain by 2.1% during the 4th quarter. Capital International Investors now owns 10,238,425 shares of the financial services provider’s stock valued at $533,729,000 after acquiring an additional 211,745 shares during the period. Dimensional Fund Advisors LP grew its holdings in OneMain by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,479,762 shares of the financial services provider’s stock worth $181,402,000 after purchasing an additional 109,182 shares during the period. Finally, Clearbridge Investments LLC increased its stake in OneMain by 54.1% in the fourth quarter. Clearbridge Investments LLC now owns 2,885,961 shares of the financial services provider’s stock valued at $150,445,000 after purchasing an additional 1,013,312 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Douglas H. Shulman sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 368,925 shares of the company’s stock, valued at $18,446,250. This represents a 9.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Hedlund sold 2,808 shares of OneMain stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $56.09, for a total transaction of $157,500.72. Following the completion of the sale, the senior vice president now directly owns 15,831 shares in the company, valued at $887,960.79. This trade represents a 15.07% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,808 shares of company stock worth $3,344,751. 0.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of OneMain from $58.00 to $46.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada raised their price objective on OneMain from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Northland Capmk raised OneMain from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Northland Securities raised shares of OneMain from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 8th. Finally, Evercore ISI started coverage on shares of OneMain in a research note on Tuesday, March 25th. They set an “in-line” rating and a $58.00 price target for the company. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.40.

OneMain Price Performance

Shares of OMF stock opened at $51.20 on Wednesday. The firm has a 50-day moving average of $47.77 and a 200-day moving average of $51.99. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $58.90. The company has a market cap of $6.09 billion, a P/E ratio of 12.08, a P/E/G ratio of 0.44 and a beta of 1.28.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.55 by $0.17. OneMain had a net margin of 10.19% and a return on equity of 18.39%. The firm had revenue of $188.00 million during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business posted $1.45 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts expect that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.13%. The ex-dividend date of this dividend was Friday, May 9th. OneMain’s payout ratio is 87.95%.

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.