Cyndeo Wealth Partners LLC Buys New Stake in OneMain Holdings, Inc. (NYSE:OMF)

Cyndeo Wealth Partners LLC acquired a new position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 132,211 shares of the financial services provider's stock, valued at approximately $6,462,000. Cyndeo Wealth Partners LLC owned 0.11% of OneMain as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Asio Capital LLC raised its stake in shares of OneMain by 1.4% in the first quarter. Asio Capital LLC now owns 82,786 shares of the financial services provider's stock valued at $4,047,000 after buying an additional 1,157 shares during the period. Vista Finance LLC raised its stake in OneMain by 7.0% in the first quarter. Vista Finance LLC now owns 6,794 shares of the financial services provider's stock valued at $332,000 after purchasing an additional 442 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of OneMain by 8.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,269 shares of the financial services provider's stock worth $697,000 after buying an additional 1,147 shares during the last quarter. My Legacy Advisors LLC increased its stake in OneMain by 11.1% in the first quarter. My Legacy Advisors LLC now owns 4,610 shares of the financial services provider's stock valued at $225,000 after acquiring an additional 461 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in OneMain by 171.9% during the first quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider's stock worth $532,000 after purchasing an additional 6,875 shares during the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

OneMain Stock Up 2.1%

NYSE:OMF traded up $1.12 on Thursday, hitting $53.66. The stock had a trading volume of 902,442 shares, compared to its average volume of 1,052,762. The business's 50-day simple moving average is $49.70 and its two-hundred day simple moving average is $51.57. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 0.45 and a beta of 1.31. OneMain Holdings, Inc. has a 52-week low of $38.00 and a 52-week high of $58.90.

OneMain (NYSE:OMF - Get Free Report) last announced its earnings results 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 company had revenue of $188.00 million during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business posted $1.45 earnings per share. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.75%. OneMain's payout ratio is currently 87.95%.

Insider Buying and Selling

In related news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $52.21, for a total transaction of $261,050.00. Following the transaction, the chief operating officer now owns 108,007 shares in the company, valued at approximately $5,639,045.47. The trade was a 4.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas H. Shulman sold 20,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $52.56, for a total value of $1,051,200.00. Following the completion of the sale, the chief executive officer now owns 323,925 shares of the company's stock, valued at $17,025,498. The trade was a 5.82% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,000 shares of company stock valued at $4,499,500. 0.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OMF. JPMorgan Chase & Co. cut 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. Northland Capmk raised shares of OneMain from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Northland Securities raised shares of OneMain from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their price target on shares of OneMain from $57.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Finally, JMP Securities restated a "market outperform" rating and issued a $65.00 price objective on shares of OneMain in a report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, OneMain presently has an average rating of "Moderate Buy" and a consensus target price of $58.40.

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.