Cetera Investment Advisers Increases Stock Position in OneMain Holdings, Inc. (NYSE:OMF)

Cetera Investment Advisers grew its position in shares of OneMain Holdings, Inc. (NYSE:OMF) by 46.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,293 shares of the financial services provider’s stock after purchasing an additional 14,404 shares during the period. Cetera Investment Advisers’ holdings in OneMain were worth $2,214,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OMF. Prosperity Consulting Group LLC boosted its stake in OneMain by 4.8% during the fourth quarter. Prosperity Consulting Group LLC now owns 6,075 shares of the financial services provider’s stock valued at $317,000 after buying an additional 281 shares during the last quarter. Essex Financial Services Inc. raised its holdings in shares of OneMain by 6.7% during the 1st quarter. Essex Financial Services Inc. now owns 4,591 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 288 shares in the last quarter. Hancock Whitney Corp boosted its position in shares of OneMain by 1.3% during the 4th quarter. Hancock Whitney Corp now owns 22,212 shares of the financial services provider’s stock valued at $1,158,000 after acquiring an additional 295 shares during the last quarter. NewEdge Advisors LLC boosted its position 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 valued at $355,000 after acquiring an additional 334 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of OneMain by 21.7% in the first quarter. Allworth Financial LP now owns 1,976 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 352 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Douglas H. Shulman sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total value of $2,081,450.00. Following the transaction, the chief executive officer owned 275,100 shares of the company’s stock, valued at $16,360,197. This trade represents a 11.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Micah R. Conrad sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $60.00, for a total transaction of $180,000.00. Following the completion of the sale, the chief operating officer directly owned 98,007 shares of the company’s stock, valued at approximately $5,880,420. This trade represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,000 shares of company stock valued at $3,976,390 over the last three months. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

OMF has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on shares of OneMain from $53.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. 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. Barclays upped their target price on shares of OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $65.00 price target on shares of OneMain in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, OneMain presently has an average rating of “Moderate Buy” and an average target price of $61.50.

OneMain Trading Down 1.4%

OMF stock opened at $55.63 on Friday. The stock has a market cap of $6.61 billion, a PE ratio of 10.04, a P/E/G ratio of 0.44 and a beta of 1.29. OneMain Holdings, Inc. has a 12 month low of $38.00 and a 12 month high of $60.33. The company has a 50-day moving average price of $56.11 and a 200 day moving average price of $52.46.

OneMain (NYSE:OMF) last announced its earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.20. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. OneMain had a return on equity of 20.65% and a net margin of 12.63%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 earnings per share. Sell-side analysts forecast that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend is Monday, August 4th. OneMain’s payout ratio is currently 75.09%.

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.