Independent Advisor Alliance Increases Stock Position in OneMain Holdings, Inc. $OMF

Independent Advisor Alliance grew its stake in OneMain Holdings, Inc. (NYSE:OMF) by 86.1% 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 39,435 shares of the financial services provider’s stock after buying an additional 18,240 shares during the period. Independent Advisor Alliance’s holdings in OneMain were worth $2,227,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OMF. Frank Rimerman Advisors LLC raised its position in shares of OneMain by 157.7% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 25,958 shares of the financial services provider’s stock valued at $1,466,000 after buying an additional 15,884 shares in the last quarter. Arizona State Retirement System increased its stake in OneMain by 1.1% in the third quarter. Arizona State Retirement System now owns 35,204 shares of the financial services provider’s stock valued at $1,988,000 after acquiring an additional 367 shares during the last quarter. Activest Wealth Management increased its stake in OneMain by 1,102.1% in the third quarter. Activest Wealth Management now owns 577 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 529 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in OneMain by 3.0% during the third quarter. TD Waterhouse Canada Inc. now owns 17,050 shares of the financial services provider’s stock valued at $951,000 after purchasing an additional 502 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in OneMain by 1.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,186 shares of the financial services provider’s stock worth $1,478,000 after purchasing an additional 336 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OMF. TD Cowen reiterated a “buy” rating on shares of OneMain in a research report on Thursday, January 8th. Citizens Jmp reduced their price target on shares of OneMain from $70.00 to $68.00 and set a “market outperform” rating on the stock in a research report on Monday, November 24th. Evercore ISI set a $75.00 price objective on shares of OneMain in a report on Tuesday, January 6th. Royal Bank Of Canada upped their price objective on shares of OneMain from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, JMP Securities set a $68.00 target price on shares of OneMain in a report on Monday, November 24th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.33.

Insider Buying and Selling at OneMain

In other news, SVP Michael A. Hedlund sold 652 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $62.00, for a total transaction of $40,424.00. Following the completion of the transaction, the senior vice president directly owned 15,179 shares of the company’s stock, valued at approximately $941,098. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas H. Shulman sold 57,500 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $68.41, for a total value of $3,933,575.00. Following the completion of the sale, the chief executive officer directly owned 174,100 shares in the company, valued at $11,910,181. The trade was a 24.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 63,152 shares of company stock worth $4,269,999. 0.40% of the stock is currently owned by company insiders.

OneMain Stock Performance

NYSE:OMF opened at $65.36 on Tuesday. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $71.93. The firm has a market cap of $7.69 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. The business has a 50 day moving average price of $66.49 and a 200-day moving average price of $61.21.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.32. The company had revenue of $747.00 million during the quarter, compared to analyst estimates of $1.24 billion. OneMain had a net margin of 13.15% and a return on equity of 22.70%. During the same period in the prior year, the business posted $1.31 EPS. Research analysts predict that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Company Profile

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.