Sumitomo Mitsui Trust Group Inc. Sells 16,478 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Sumitomo Mitsui Trust Group Inc. lowered its stake in OneMain Holdings, Inc. (NYSE:OMF) by 41.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,491 shares of the financial services provider’s stock after selling 16,478 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in OneMain were worth $1,106,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. EdgeRock Capital LLC acquired a new position in OneMain in the 2nd quarter valued at approximately $31,000. International Assets Investment Management LLC bought a new stake in OneMain during the 2nd quarter worth approximately $34,000. Blue Trust Inc. raised its holdings in shares of OneMain by 43.4% in the second quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 225 shares during the last quarter. Abich Financial Wealth Management LLC grew its holdings in shares of OneMain by 46.1% in the first quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 304 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in OneMain by 32.6% during the second quarter. UMB Bank n.a. now owns 1,779 shares of the financial services provider’s stock worth $86,000 after buying an additional 437 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Activity at OneMain

In other news, SVP Michael A. Hedlund sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total value of $120,000.00. Following the sale, the senior vice president now directly owns 20,947 shares of the company’s stock, valued at approximately $1,047,350. The trade was a 10.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Micah R. Conrad sold 886 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $44,300.00. Following the transaction, the chief operating officer now directly owns 104,739 shares of the company’s stock, valued at $5,236,950. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,292 shares of company stock valued at $2,307,784. 0.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Northland Securities upped their price target on shares of OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. reduced their target price on shares of OneMain from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Stephens started coverage on shares of OneMain in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $62.00 target price on the stock. StockNews.com downgraded shares of OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $58.00 target price on shares of OneMain in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.46.

OneMain Stock Performance

Shares of NYSE OMF opened at $54.51 on Wednesday. OneMain Holdings, Inc. has a 1 year low of $37.78 and a 1 year high of $56.28. The company has a market capitalization of $6.51 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.68 and a beta of 1.54. The company’s fifty day moving average price is $48.72 and its 200 day moving average price is $48.68.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were given a dividend of $1.04 per share. The ex-dividend date was Tuesday, November 12th. This represents a $4.16 annualized dividend and a dividend yield of 7.63%. OneMain’s payout ratio is 91.03%.

OneMain Company 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.