Park Avenue Securities LLC Increases Stock Holdings in OneMain Holdings, Inc. (NYSE:OMF)

Park Avenue Securities LLC grew its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 11.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,784 shares of the financial services provider’s stock after purchasing an additional 904 shares during the period. Park Avenue Securities LLC’s holdings in OneMain were worth $458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legend Financial Advisors Inc. purchased a new position in shares of OneMain in the 4th quarter worth about $26,000. FNY Investment Advisers LLC bought a new position in OneMain in the fourth quarter worth about $26,000. Continuum Advisory LLC bought a new stake in shares of OneMain during the third quarter valued at approximately $28,000. Abich Financial Wealth Management LLC increased its stake in shares of OneMain by 27.4% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,227 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 264 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of OneMain by 64.1% in the 3rd quarter. Blue Trust Inc. now owns 1,219 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 476 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insiders Place Their Bets

In other news, COO Micah R. Conrad sold 2,500 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $5,316,428. The trade was a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael A. Hedlund sold 1,992 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total transaction of $103,584.00. Following the transaction, the senior vice president now directly owns 18,955 shares of the company’s stock, valued at $985,660. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,492 shares of company stock worth $1,582,384 in the last three months. Corporate insiders own 0.45% of the company’s stock.

OneMain Price Performance

Shares of NYSE OMF opened at $58.03 on Friday. The firm has a 50-day simple moving average of $54.52 and a two-hundred day simple moving average of $50.47. The company has a market cap of $6.93 billion, a P/E ratio of 12.70, a PEG ratio of 0.48 and a beta of 1.58. OneMain Holdings, Inc. has a 1 year low of $41.70 and a 1 year high of $58.22.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 7.17%. The ex-dividend date of this dividend was Tuesday, November 12th. OneMain’s dividend payout ratio is presently 91.03%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 target price on shares of OneMain in a research note on Thursday, January 16th. Wells Fargo & Company raised their price objective on shares of OneMain from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday. JMP Securities lifted their price objective on OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. dropped their price objective on OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, StockNews.com cut shares of OneMain from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.69.

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.