Bridgewater Associates LP Grows Holdings in OneMain Holdings, Inc. (NYSE:OMF)

Bridgewater Associates LP grew its stake in OneMain Holdings, Inc. (NYSE:OMF) by 466.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,416 shares of the financial services provider’s stock after buying an additional 21,750 shares during the period. Bridgewater Associates LP’s holdings in OneMain were worth $1,243,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OMF. B. Riley Wealth Advisors Inc. raised its holdings in OneMain by 11.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,421 shares of the financial services provider’s stock valued at $277,000 after buying an additional 543 shares during the last quarter. Swedbank AB bought a new stake in OneMain during the 1st quarter valued at $817,000. Cetera Advisors LLC bought a new stake in OneMain during the 1st quarter valued at $493,000. DekaBank Deutsche Girozentrale raised its holdings in OneMain by 7.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,287 shares of the financial services provider’s stock valued at $315,000 after buying an additional 431 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in OneMain by 8.2% during the 2nd quarter. QRG Capital Management Inc. now owns 60,057 shares of the financial services provider’s stock valued at $2,912,000 after buying an additional 4,534 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Transactions at OneMain

In related news, CEO Douglas H. Shulman sold 20,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total transaction of $1,083,800.00. Following the sale, the chief executive officer now directly owns 392,474 shares of the company’s stock, valued at approximately $21,268,166.06. This represents a 4.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 2,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total transaction of $130,000.00. Following the sale, the chief operating officer now directly owns 102,239 shares in the company, valued at $5,316,428. This trade represents a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,178 shares of company stock valued at $2,107,084 in the last three months. 0.45% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on OMF. Compass Point upped their price target on shares of OneMain from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stephens initiated coverage on shares of OneMain in a report on Wednesday, November 13th. They set an “overweight” rating and a $62.00 price target for the company. StockNews.com lowered shares of OneMain from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and issued a $58.00 price objective on shares of OneMain in a report on Wednesday, October 16th. Finally, Barclays lowered shares of OneMain from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $52.00 to $46.00 in a report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.46.

OneMain Price Performance

NYSE:OMF opened at $57.35 on Monday. The firm’s 50-day moving average price is $50.24 and its 200-day moving average price is $48.99. The company has a market capitalization of $6.84 billion, a PE ratio of 12.55, a P/E/G ratio of 0.71 and a beta of 1.54. OneMain Holdings, Inc. has a 1-year low of $41.70 and a 1-year high of $57.97.

OneMain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date was Tuesday, November 12th. OneMain’s dividend payout ratio is presently 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.