Parallel Advisors LLC Buys 2,573 Shares of OneMain Holdings, Inc. $OMF

Parallel Advisors LLC raised its stake in OneMain Holdings, Inc. (NYSE:OMF) by 34.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,120 shares of the financial services provider’s stock after acquiring an additional 2,573 shares during the quarter. Parallel Advisors LLC’s holdings in OneMain were worth $577,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Central Pacific Bank Trust Division increased its holdings in shares of OneMain by 2.7% during the second quarter. Central Pacific Bank Trust Division now owns 8,079 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 210 shares during the period. Voya Investment Management LLC increased its holdings in shares of OneMain by 24.3% during the first quarter. Voya Investment Management LLC now owns 111,702 shares of the financial services provider’s stock worth $5,460,000 after purchasing an additional 21,830 shares during the period. Strs Ohio bought a new position in shares of OneMain during the first quarter worth approximately $1,616,000. Focus Partners Wealth increased its holdings in shares of OneMain by 101.8% during the first quarter. Focus Partners Wealth now owns 8,737 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 4,407 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of OneMain by 2.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 442,598 shares of the financial services provider’s stock worth $21,634,000 after purchasing an additional 9,067 shares during the period. 85.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on OMF shares. Barclays raised their target price on shares of OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of OneMain from $50.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company began coverage on shares of OneMain in a report on Monday, August 25th. They set an “equal weight” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

OneMain Stock Down 1.3%

Shares of OMF opened at $60.80 on Friday. The stock has a market cap of $7.23 billion, a PE ratio of 10.97, a PEG ratio of 0.48 and a beta of 1.30. The business has a 50-day simple moving average of $59.07 and a two-hundred day simple moving average of $53.41. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $63.24.

OneMain (NYSE:OMF) last issued its quarterly 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 company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. OneMain’s revenue 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. On average, equities research analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Monday, August 4th. OneMain’s payout ratio is 75.09%.

Insiders Place Their Bets

In other news, COO Micah R. Conrad sold 4,000 shares of OneMain stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.02, for a total transaction of $232,080.00. Following the transaction, the chief operating officer owned 101,007 shares in the company, valued at approximately $5,860,426.14. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas H. Shulman sold 35,000 shares of OneMain stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the transaction, the chief executive officer owned 275,100 shares in the company, valued at approximately $16,360,197. This trade represents a 11.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,000 shares of company stock worth $2,664,140. 0.40% of the stock is owned by company 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.