Cetera Investment Advisers Purchases 14,404 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Key Points

• Cetera Investment Advisers increased its stake in OneMain Holdings by 46.6%, now holding 45,293 shares valued at approximately $2.2 million.
• In recent analyst reviews, OneMain received a consensus rating of "Moderate Buy" with a price target of $61.50, reflecting positive sentiment about its growth potential.
• OneMain announced a quarterly dividend of $1.04 per share, resulting in an annualized dividend yield of 7.4%.

Cetera Investment Advisers lifted its position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 46.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,293 shares of the financial services provider's stock after buying an additional 14,404 shares during the period. Cetera Investment Advisers' holdings in OneMain were worth $2,214,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in shares of OneMain during the 1st quarter valued at about $27,000. GAMMA Investing LLC increased its stake in OneMain by 191.9% in the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock worth $49,000 after purchasing an additional 662 shares during the period. Golden State Wealth Management LLC purchased a new position in OneMain in the 1st quarter worth approximately $54,000. Fourth Dimension Wealth LLC purchased a new position in OneMain in the 4th quarter worth approximately $57,000. Finally, Farther Finance Advisors LLC increased its stake in OneMain by 198.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,670 shares of the financial services provider's stock worth $82,000 after purchasing an additional 1,110 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Micah R. Conrad sold 5,000 shares of the company's 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 sale, the chief operating officer owned 108,007 shares in the company, valued at approximately $5,639,045.47. This represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the transaction, the chief executive officer directly owned 275,100 shares in the company, valued at approximately $16,360,197. This represents a 11.29% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,000 shares of company stock worth $3,976,390. Corporate insiders own 0.40% of the company's stock.

OneMain Trading Up 2.3%

OneMain stock traded up $1.31 during mid-day trading on Tuesday, hitting $56.95. The company had a trading volume of 151,166 shares, compared to its average volume of 1,106,275. The stock's 50 day moving average price is $56.27 and its two-hundred day moving average price is $52.37. OneMain Holdings, Inc. has a 12 month low of $38.00 and a 12 month high of $60.33. The company has a market capitalization of $6.77 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 0.43 and a beta of 1.29.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.20. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. OneMain had a return on equity of 20.65% and a net margin of 12.63%. The company's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 earnings per share. Equities research analysts anticipate that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Monday, August 4th. OneMain's dividend payout ratio is presently 75.09%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays lifted their price target on OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on OneMain from $53.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. lifted their price target on OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Finally, JMP Securities restated a "market outperform" rating and set a $65.00 price target on shares of OneMain in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, OneMain currently has an average rating of "Moderate Buy" and an average price target of $61.50.

About OneMain

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.