Geode Capital Management LLC Decreases Stake in OneMain Holdings, Inc. (NYSE:OMF)

Geode Capital Management LLC lowered its position in shares of OneMain Holdings, Inc. (NYSE:OMF) by 0.2% in the fourth quarter, Holdings Channel reports. The firm owned 2,134,878 shares of the financial services provider’s stock after selling 4,915 shares during the period. Geode Capital Management LLC’s holdings in OneMain were worth $111,604,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of OMF. Wellington Management Group LLP grew its holdings in shares of OneMain by 395.9% during the 4th quarter. Wellington Management Group LLP now owns 2,249,762 shares of the financial services provider’s stock worth $117,280,000 after purchasing an additional 1,796,054 shares during the period. Norges Bank purchased a new stake in shares of OneMain during the 4th quarter worth about $72,936,000. Clearbridge Investments LLC boosted its holdings in OneMain by 54.1% in the 4th quarter. Clearbridge Investments LLC now owns 2,885,961 shares of the financial services provider’s stock worth $150,445,000 after acquiring an additional 1,013,312 shares during the period. William Blair Investment Management LLC purchased a new position in OneMain in the 4th quarter worth approximately $46,195,000. Finally, American Century Companies Inc. boosted its holdings in OneMain by 29.2% in the 4th quarter. American Century Companies Inc. now owns 957,589 shares of the financial services provider’s stock worth $49,919,000 after acquiring an additional 216,157 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Activity at OneMain

In other OneMain news, SVP Michael A. Hedlund sold 2,808 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $56.09, for a total value of $157,500.72. Following the sale, the senior vice president now directly owns 15,831 shares of the company’s stock, valued at $887,960.79. This trade represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.45% of the company’s stock.

OneMain Trading Up 13.2 %

OMF stock opened at $45.76 on Thursday. The firm has a market cap of $5.46 billion, a P/E ratio of 10.79, a P/E/G ratio of 0.44 and a beta of 1.35. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $58.90. The stock’s 50 day simple moving average is $50.77 and its 200 day simple moving average is $51.78.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Wednesday, February 12th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 9.09%. The ex-dividend date was Wednesday, February 12th. OneMain’s dividend payout ratio is currently 98.11%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays set a $56.00 price target on OneMain in a report on Friday, March 14th. StockNews.com upgraded OneMain from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Evercore ISI assumed coverage on OneMain in a report on Tuesday, March 25th. They issued an “in-line” rating and a $58.00 price target for the company. JMP Securities restated a “market outperform” rating and issued a $65.00 price target on shares of OneMain in a report on Monday, February 3rd. Finally, Northland Securities raised OneMain from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.17.

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.