Advisor Resource Council Makes New $613,000 Investment in OneMain Holdings, Inc. (NYSE:OMF)

Advisor Resource Council purchased a new position in OneMain Holdings, Inc. (NYSE:OMF) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,533 shares of the financial services provider’s stock, valued at approximately $613,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ieq Capital LLC acquired a new position in OneMain in the 4th quarter worth approximately $896,000. Orion Portfolio Solutions LLC boosted its stake in OneMain by 66.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 17,681 shares of the financial services provider’s stock worth $922,000 after purchasing an additional 7,060 shares during the period. PNC Financial Services Group Inc. boosted its stake in OneMain by 15.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,263 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 569 shares during the period. IFP Advisors Inc boosted its stake in OneMain by 180.0% in the 4th quarter. IFP Advisors Inc now owns 770 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 495 shares during the period. Finally, GAMMA Investing LLC boosted its stake in OneMain by 14,167.2% in the 1st quarter. GAMMA Investing LLC now owns 49,222 shares of the financial services provider’s stock worth $2,406,000 after purchasing an additional 48,877 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

Wall Street Analyst Weigh In

OMF has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on shares of OneMain from $57.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price objective on shares of OneMain from $58.00 to $46.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Evercore ISI started coverage on shares of OneMain in a research note on Tuesday, March 25th. They issued an “in-line” rating and a $58.00 price objective for the company. JMP Securities reissued a “market outperform” rating and set a $65.00 target price on shares of OneMain in a research note on Wednesday, April 30th. Finally, Northland Capmk raised shares of OneMain from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.40.

Insider Activity at OneMain

In related news, CEO Douglas H. Shulman sold 40,000 shares of OneMain stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $50.00, for a total value of $2,000,000.00. Following the transaction, the chief executive officer now owns 368,925 shares in the company, valued at $18,446,250. This trade represents a 9.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total transaction of $261,050.00. Following the completion of the transaction, the chief operating officer now owns 108,007 shares in the company, valued at $5,639,045.47. This trade represents a 4.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,000 shares of company stock valued at $4,499,500. Insiders own 0.40% of the company’s stock.

OneMain Trading Up 0.9%

OMF stock opened at $54.15 on Friday. OneMain Holdings, Inc. has a 1 year low of $38.00 and a 1 year high of $58.90. The company has a fifty day simple moving average of $50.13 and a 200 day simple moving average of $51.48. The firm has a market cap of $6.44 billion, a PE ratio of 11.45, a PEG ratio of 0.46 and a beta of 1.31.

OneMain (NYSE:OMF) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.17. OneMain had a net margin of 11.06% and a return on equity of 19.30%. The business had revenue of $188.00 million during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business earned $1.45 EPS. OneMain’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, analysts forecast that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 7.68%. The ex-dividend date of this dividend was Friday, May 9th. OneMain’s payout ratio is presently 87.95%.

OneMain 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.