Covestor Ltd Raises Position in OneMain Holdings, Inc. (NYSE:OMF)

Covestor Ltd lifted its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 10.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,188 shares of the financial services provider’s stock after buying an additional 311 shares during the quarter. Covestor Ltd’s holdings in OneMain were worth $150,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clearbridge Investments LLC raised its stake in shares of OneMain by 64.8% during the first quarter. Clearbridge Investments LLC now owns 1,890,017 shares of the financial services provider’s stock valued at $96,561,000 after purchasing an additional 743,034 shares during the period. Frank Rimerman Advisors LLC acquired a new position in OneMain in the 2nd quarter worth $608,000. Swedbank AB purchased a new position in OneMain in the 1st quarter valued at about $817,000. Argent Capital Management LLC grew its stake in shares of OneMain by 33.6% during the second quarter. Argent Capital Management LLC now owns 672,952 shares of the financial services provider’s stock valued at $32,631,000 after acquiring an additional 169,339 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of OneMain by 13.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 271 shares during the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on OMF shares. Northland Securities raised their price objective on OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 price target on shares of OneMain in a report on Wednesday, October 16th. StockNews.com lowered shares of OneMain from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Barclays lowered shares of OneMain from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $52.00 to $46.00 in a research note on Tuesday, October 8th. Finally, JMP Securities boosted their price objective on OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.08.

OneMain Stock Up 1.5 %

OMF stock opened at $55.81 on Tuesday. The firm’s 50-day simple moving average is $47.66 and its 200 day simple moving average is $48.52. The stock has a market cap of $6.66 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.68 and a beta of 1.54. OneMain Holdings, Inc. has a fifty-two week low of $36.80 and a fifty-two week high of $56.28.

OneMain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Tuesday, November 12th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date is Tuesday, November 12th. OneMain’s dividend payout ratio (DPR) is 91.03%.

Insider Activity at OneMain

In other news, SVP Michael A. Hedlund sold 1,992 shares of the firm’s stock in a transaction 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 approximately $985,660. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Michael A. Hedlund sold 1,992 shares of the business’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 sale, the senior vice president now owns 18,955 shares of the company’s stock, valued at $985,660. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Micah R. Conrad sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total transaction of $114,375.00. Following the completion of the sale, the chief operating officer now directly owns 117,025 shares of the company’s stock, valued at $5,353,893.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,792 shares of company stock worth $2,032,859 in the last three months. 0.45% of the stock is owned by company insiders.

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.