Fulcrum Asset Management LLP Makes New Investment in OneMain Holdings, Inc. $OMF

Fulcrum Asset Management LLP purchased a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 32,428 shares of the financial services provider’s stock, valued at approximately $1,827,000.

Other large investors have also made changes to their positions in the company. Hohimer Wealth Management LLC purchased a new stake in shares of OneMain during the third quarter worth about $1,287,000. Brighton Jones LLC lifted its holdings in OneMain by 28.6% in the 3rd quarter. Brighton Jones LLC now owns 21,362 shares of the financial services provider’s stock worth $1,183,000 after purchasing an additional 4,757 shares in the last quarter. Heritage Family Offices LLP purchased a new position in OneMain in the 3rd quarter worth approximately $92,000. Chicago Partners Investment Group LLC boosted its stake in OneMain by 4.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 21,183 shares of the financial services provider’s stock worth $1,180,000 after purchasing an additional 866 shares during the period. Finally, Covestor Ltd boosted its stake in OneMain by 13.5% in the 3rd quarter. Covestor Ltd now owns 2,164 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 257 shares during the period. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

OneMain Trading Down 0.3%

NYSE:OMF opened at $55.32 on Wednesday. The company has a market capitalization of $6.33 billion, a P/E ratio of 8.73, a P/E/G ratio of 0.64 and a beta of 1.30. OneMain Holdings, Inc. has a 12 month low of $45.78 and a 12 month high of $71.93. The business’s 50-day moving average is $58.10 and its 200 day moving average is $58.16.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Friday, October 30th. The financial services provider reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.05). The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.34 billion. OneMain had a net margin of 13.43% and a return on equity of 21.90%. During the same period in the previous year, the company posted $1.90 earnings per share. On average, research analysts forecast that OneMain Holdings, Inc. will post 6.59 earnings per share for the current year.

OneMain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 9th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Monday, November 9th. OneMain’s dividend payout ratio is 63.93%.

Analysts Set New Price Targets

OMF has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price objective on shares of OneMain from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Wednesday, November 4th. Weiss Ratings raised shares of OneMain from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 30th. Bank of America dropped their target price on shares of OneMain from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Monday, November 2nd. JPMorgan Chase & Co. raised their target price on shares of OneMain from $52.00 to $56.00 and gave the company an “underweight” rating in a research note on Monday, November 2nd. Finally, Barclays reduced their price target on shares of OneMain from $60.00 to $59.00 and set an “equal weight” rating on the stock in a report on Monday, November 2nd. Nine equities 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.82.

About OneMain

OneMain Holdings, Inc. is a consumer finance company that provides personal loans to customers, including borrowers who may have limited access to traditional credit. Its offerings include secured and unsecured installment loans, which customers can apply for through its branches or digital channels. The company also offers credit-related insurance and other products designed to complement its lending services. OneMain serves customers across the United States through a nationwide branch network and online services.