OneMain Holdings, Inc. $OMF Shares Purchased by IFP Advisors Inc

IFP Advisors Inc raised its stake in OneMain Holdings, Inc. (NYSE:OMF) by 178.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,040 shares of the financial services provider’s stock after purchasing an additional 667 shares during the period. IFP Advisors Inc’s holdings in OneMain were worth $59,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC grew its holdings in OneMain by 198.2% during the 1st 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 in the last quarter. GAMMA Investing LLC increased its holdings in shares of OneMain by 191.9% in the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 662 shares during the last quarter. SG Americas Securities LLC raised its holdings in OneMain by 171.9% during the first quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 6,875 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in OneMain by 8.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,269 shares of the financial services provider’s stock worth $697,000 after acquiring an additional 1,147 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of OneMain by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 117,436 shares of the financial services provider’s stock valued at $5,740,000 after purchasing an additional 2,009 shares during the period. 85.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 275,100 shares of the company’s stock, valued at $16,360,197. This represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OMF. Wells Fargo & Company assumed coverage on shares of OneMain in a report on Monday, August 25th. They issued an “equal weight” rating for the company. Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a research report on Wednesday, October 8th. Barclays raised their price objective on OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Wall Street Zen cut shares of OneMain from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price target (down from $63.00) on shares of OneMain in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, OneMain currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

OneMain Stock Performance

Shares of OMF stock opened at $55.50 on Tuesday. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 0.43 and a beta of 1.32. The company’s 50-day simple moving average is $58.56 and its 200-day simple moving average is $54.59. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $63.24.

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, beating 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 firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted $1.02 EPS. OneMain’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts forecast that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 7.5%. The ex-dividend date was Monday, August 4th. OneMain’s dividend payout ratio is 75.09%.

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.