Allworth Financial LP Raises Stock Position in OneMain Holdings, Inc. (NYSE:OMF)

Allworth Financial LP raised its position in shares of OneMain Holdings, Inc. (NYSE:OMF) by 21.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,976 shares of the financial services provider’s stock after purchasing an additional 352 shares during the quarter. Allworth Financial LP’s holdings in OneMain were worth $96,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Prosperity Consulting Group LLC boosted its position in shares of OneMain by 4.8% in the 4th quarter. Prosperity Consulting Group LLC now owns 6,075 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 281 shares in the last quarter. Essex Financial Services Inc. grew its holdings in shares of OneMain by 6.7% during the first quarter. Essex Financial Services Inc. now owns 4,591 shares of the financial services provider’s stock worth $224,000 after buying an additional 288 shares in the last quarter. Hancock Whitney Corp increased its holdings in shares of OneMain by 1.3% in the fourth quarter. Hancock Whitney Corp now owns 22,212 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 295 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of OneMain by 5.2% during the 4th quarter. NewEdge Advisors LLC now owns 6,809 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 334 shares during the period. Finally, Signaturefd LLC boosted its holdings in OneMain by 6.7% during the 4th quarter. Signaturefd LLC now owns 7,070 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 442 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.

OneMain Stock Up 0.6%

Shares of OMF stock opened at $57.55 on Friday. The company has a market cap of $6.85 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.49 and a beta of 1.32. The business has a fifty day simple moving average of $54.22 and a 200 day simple moving average of $52.00. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $60.12.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.17. The business had revenue of $188.00 million for the quarter, compared to analysts’ expectations of $1.16 billion. OneMain had a return on equity of 19.30% and a net margin of 11.06%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $1.45 EPS. As a group, equities research analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders 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 yield of 7.23%. The ex-dividend date of this dividend was Friday, May 9th. OneMain’s payout ratio is 87.95%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Northland Capmk upgraded shares of OneMain from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 price target on shares of OneMain in a report on Wednesday, April 30th. Wells Fargo & Company boosted their target price on shares of OneMain from $53.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday. Evercore ISI initiated coverage on shares of OneMain in a report on Tuesday, March 25th. They issued an “in-line” rating and a $58.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of OneMain from $50.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.78.

Insider Transactions at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $52.21, for a total value of $261,050.00. Following the completion of the transaction, the chief operating officer owned 108,007 shares of the company’s stock, valued at approximately $5,639,045.47. This trade represents a 4.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas H. Shulman sold 40,000 shares of OneMain stock in a transaction dated 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 sale, the chief executive officer owned 368,925 shares of the company’s stock, valued at $18,446,250. The trade was a 9.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,000 shares of company stock valued at $5,082,190. 0.40% of the stock is owned by insiders.

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.