Principal Financial Group Inc. Has $33.16 Million Holdings in OneMain Holdings, Inc. (NYSE:OMF)

Principal Financial Group Inc. lessened its holdings in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 678,328 shares of the financial services provider's stock after selling 43,172 shares during the period. Principal Financial Group Inc. owned 0.57% of OneMain worth $33,157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of OMF. Alpine Bank Wealth Management acquired a new position in OneMain during the 1st quarter worth $27,000. GAMMA Investing LLC lifted its position in OneMain by 191.9% during the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock worth $49,000 after acquiring an additional 662 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in OneMain during the 1st quarter worth $54,000. Fourth Dimension Wealth LLC acquired a new position in OneMain during the 4th quarter worth $57,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in OneMain during the 4th quarter worth $82,000. Institutional investors and hedge funds own 85.82% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on OMF shares. Northland Securities raised shares of OneMain from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 8th. Barclays set a $56.00 target price on shares of OneMain in a research report on Friday, March 14th. Wells Fargo & Company cut their target price on shares of OneMain from $57.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. JMP Securities restated a "market outperform" rating and set a $65.00 price objective on shares of OneMain in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of OneMain from $58.00 to $46.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $58.40.

Insider Transactions at OneMain

In related news, COO Micah R. Conrad sold 4,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.02, for a total value of $232,080.00. Following the sale, the chief operating officer owned 101,007 shares of the company's stock, valued at $5,860,426.14. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Douglas H. Shulman sold 20,000 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $52.56, for a total transaction of $1,051,200.00. Following the completion of the sale, the chief executive officer directly owned 323,925 shares in the company, valued at approximately $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 three months, insiders sold 97,000 shares of company stock worth $4,902,190. 0.40% of the stock is currently owned by insiders.

OneMain Stock Down 0.7%

NYSE OMF opened at $59.37 on Tuesday. The stock has a market cap of $7.06 billion, a P/E ratio of 12.55, a PEG ratio of 0.51 and a beta of 1.32. The company's 50-day simple moving average is $52.65 and its 200 day simple moving average is $51.66. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $60.10.

OneMain (NYSE:OMF - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.17. The business had revenue of $188.00 million for the quarter, compared to analysts' expectations of $1.16 billion. OneMain had a net margin of 11.06% and a return on equity of 19.30%. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.45 earnings per share. Research analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $4.16 dividend on an annualized basis and a yield of 7.01%. OneMain's payout ratio is currently 87.95%.

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.

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