OneMain Holdings, Inc. $OMF Shares Acquired by Ascent Group LLC

Key Points

• Ascent Group LLC increased its stake in OneMain Holdings, Inc. by 127.1% during the first quarter, now holding 9,952 shares valued at approximately $486,000.
• OneMain has announced a quarterly dividend of $1.04 per share, reflecting a dividend yield of 6.8% and a payout ratio of 75.09%.
• Analysts have raised their price targets for OneMain, with JPMorgan increasing their forecast from $50 to $63 and maintaining an "overweight" rating.

Ascent Group LLC boosted its holdings in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 127.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,952 shares of the financial services provider's stock after purchasing an additional 5,569 shares during the quarter. Ascent Group LLC's holdings in OneMain were worth $486,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. raised its holdings in shares of OneMain by 4.3% in the fourth quarter. Ameriprise Financial Inc. now owns 87,527 shares of the financial services provider's stock valued at $4,563,000 after buying an additional 3,631 shares during the last quarter. BNP Paribas Financial Markets increased its position in OneMain by 32.2% in the 4th quarter. BNP Paribas Financial Markets now owns 63,436 shares of the financial services provider's stock valued at $3,307,000 after acquiring an additional 15,437 shares during the period. Bank of America Corp DE raised its stake in OneMain by 7.7% during the 4th quarter. Bank of America Corp DE now owns 318,669 shares of the financial services provider's stock valued at $16,612,000 after acquiring an additional 22,860 shares during the last quarter. Cetera Investment Advisers raised its stake in OneMain by 5.6% during the 4th quarter. Cetera Investment Advisers now owns 30,889 shares of the financial services provider's stock valued at $1,610,000 after acquiring an additional 1,631 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in OneMain during the 4th quarter worth approximately $232,000. Institutional investors and hedge funds own 85.82% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OMF shares. JPMorgan Chase & Co. upped their price target on OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Barclays boosted their price objective on shares of OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company assumed coverage on shares of OneMain in a research note on Monday, August 25th. They issued an "equal weight" rating for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $61.50.

OneMain Stock Performance

OneMain stock traded down $1.19 during midday trading on Friday, reaching $60.57. The company's stock had a trading volume of 611,307 shares, compared to its average volume of 763,223. The firm has a market capitalization of $7.20 billion, a PE ratio of 10.93, a P/E/G ratio of 0.48 and a beta of 1.30. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $63.24. The stock's 50 day simple moving average is $58.90 and its 200 day simple moving average is $53.11.

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

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date was Monday, August 4th. OneMain's dividend payout ratio (DPR) is presently 75.09%.

Insider Activity at OneMain

In related news, CEO Douglas H. Shulman sold 35,000 shares of OneMain stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the completion of the transaction, the chief executive officer directly owned 275,100 shares of the company's stock, valued at approximately $16,360,197. The trade was a 11.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Micah R. Conrad sold 3,000 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $60.00, for a total value of $180,000.00. Following the sale, the chief operating officer owned 98,007 shares in the company, valued at approximately $5,880,420. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,000 shares of company stock worth $3,715,340 in the last three months. Corporate insiders own 0.40% of the company's stock.

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.