Wealth Enhancement Advisory Services LLC Has $1.27 Million Stake in OneMain Holdings, Inc. $OMF

Wealth Enhancement Advisory Services LLC increased its holdings in OneMain Holdings, Inc. (NYSE:OMF) by 48.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,189 shares of the financial services provider’s stock after buying an additional 6,920 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in OneMain were worth $1,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in OneMain during the first quarter valued at approximately $27,000. SVB Wealth LLC acquired a new position in OneMain during the first quarter valued at approximately $34,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in OneMain during the first quarter valued at approximately $42,000. Headlands Technologies LLC acquired a new position in OneMain during the first quarter valued at approximately $46,000. Finally, GAMMA Investing LLC raised 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 in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

OneMain Stock Down 2.0%

Shares of OneMain stock opened at $56.45 on Wednesday. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $63.24. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 0.45 and a beta of 1.30. The company’s fifty day moving average is $59.25 and its 200 day moving average is $53.99.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.20. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $1.02 earnings per share. OneMain’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.16 annualized dividend and a dividend yield of 7.4%. OneMain’s payout ratio is currently 75.09%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OMF. Barclays boosted their price objective 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. Wells Fargo & Company started coverage on shares of OneMain in a research report on Monday, August 25th. They set an “equal weight” rating for the company. 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 research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Insiders Place Their Bets

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the company’s stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 3,000 shares of the company’s stock in a transaction on 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 in the company, valued at $5,880,420. This trade represents a 2.97% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

About OneMain

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.