Avantax Advisory Services Inc. Increases Position in OneMain Holdings, Inc. (NYSE:OMF)

Avantax Advisory Services Inc. increased its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 7.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,068 shares of the financial services provider’s stock after buying an additional 427 shares during the quarter. Avantax Advisory Services Inc.’s holdings in OneMain were worth $297,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in OneMain during the first quarter valued at $27,000. GAMMA Investing LLC lifted its position in OneMain by 191.9% during the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 662 shares during the period. Golden State Wealth Management LLC acquired a new position in OneMain during the first quarter valued at $54,000. Fourth Dimension Wealth LLC acquired a new position in OneMain during the fourth quarter valued at $57,000. Finally, Farther Finance Advisors LLC raised its position in shares of OneMain by 198.2% in the first quarter. Farther Finance Advisors LLC now owns 1,670 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 1,110 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Douglas H. Shulman sold 35,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the completion of the sale, the chief executive officer owned 275,100 shares of the company’s stock, valued at approximately $16,360,197. This represents a 11.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Micah R. Conrad sold 3,000 shares of the company’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 sale, the chief operating officer directly owned 98,007 shares of the company’s stock, valued at approximately $5,880,420. This represents a 2.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,000 shares of company stock valued at $3,976,390. 0.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

OMF has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of OneMain from $53.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. upped their price objective on shares of OneMain from $50.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. JMP Securities reiterated a “market outperform” rating and issued a $65.00 price objective on shares of OneMain in a research report on Wednesday, April 30th. Finally, Barclays upped their price objective on shares of OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, OneMain currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

OneMain Stock Up 0.4%

OMF stock opened at $55.84 on Friday. The stock has a market capitalization of $6.64 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.43 and a beta of 1.29. The firm has a 50-day simple moving average of $56.19 and a 200-day simple moving average of $52.46. OneMain Holdings, Inc. has a 52 week low of $38.00 and a 52 week high of $60.33.

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

OneMain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 13th. Investors of record on Monday, August 4th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend is Monday, August 4th. OneMain’s dividend 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.