Wedbush Securities Inc. Invests $219,000 in OneMain Holdings, Inc. $OMF

Wedbush Securities Inc. acquired a new stake in OneMain Holdings, Inc. (NYSE:OMF) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,835 shares of the financial services provider’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also made changes to their positions in OMF. Kingstone Capital Partners Texas LLC purchased a new stake in shares of OneMain in the second quarter valued at about $611,102,000. Nuveen LLC purchased a new position in OneMain during the first quarter worth about $48,282,000. Cooperman Leon G boosted its holdings in OneMain by 187.7% in the 1st quarter. Cooperman Leon G now owns 889,000 shares of the financial services provider’s stock valued at $43,454,000 after purchasing an additional 580,000 shares during the last quarter. Fiduciary Management Inc. WI grew its stake in shares of OneMain by 21.8% in the 1st quarter. Fiduciary Management Inc. WI now owns 2,647,875 shares of the financial services provider’s stock valued at $129,428,000 after buying an additional 474,161 shares during the period. Finally, Certuity LLC increased its holdings in shares of OneMain by 86.0% during the 1st quarter. Certuity LLC now owns 930,012 shares of the financial services provider’s stock worth $45,459,000 after buying an additional 430,011 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $59.20, for a total value of $296,000.00. Following the transaction, the chief operating officer owned 88,221 shares of the company’s stock, valued at approximately $5,222,683.20. This trade represents a 5.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Douglas H. Shulman sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $59.54, for a total value of $2,083,900.00. Following the transaction, the chief executive officer directly owned 231,600 shares in the company, valued at $13,789,464. This trade represents a 13.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

OMF has been the subject of a number of recent analyst reports. Wells Fargo & Company began coverage on OneMain in a research report on Monday, August 25th. They set an “equal weight” rating for the company. Citizens Jmp lifted their price target on shares of OneMain from $63.00 to $70.00 and gave the company a “market outperform” rating in a research report on Monday, November 3rd. Royal Bank Of Canada boosted their price target on shares of OneMain from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Wall Street Zen raised shares of OneMain from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Citigroup reiterated an “outperform” rating on shares of OneMain in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.13.

OneMain Stock Performance

Shares of OMF opened at $59.73 on Friday. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $63.24. The firm has a 50-day simple moving average of $58.13 and a 200-day simple moving average of $56.30. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 0.45 and a beta of 1.37.

OneMain (NYSE:OMF) last released its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.32. The firm had revenue of $747.00 million for the quarter, compared to the consensus estimate of $1.24 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. During the same quarter in the previous year, the firm earned $1.31 earnings per share. Equities research analysts forecast that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 10th will be issued a $1.05 dividend. This is a boost from OneMain’s previous quarterly dividend of $1.04. The ex-dividend date is Monday, November 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 7.0%. OneMain’s dividend payout ratio (DPR) is 71.19%.

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.