Independent Advisor Alliance Raises Stake in OneMain Holdings, Inc. $OMF

Independent Advisor Alliance boosted its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 86.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,435 shares of the financial services provider’s stock after buying an additional 18,240 shares during the quarter. Independent Advisor Alliance’s holdings in OneMain were worth $2,227,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in OMF. Frank Rimerman Advisors LLC grew its position in shares of OneMain by 157.7% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 25,958 shares of the financial services provider’s stock valued at $1,466,000 after acquiring an additional 15,884 shares during the period. Arizona State Retirement System lifted its stake in OneMain by 1.1% in the third quarter. Arizona State Retirement System now owns 35,204 shares of the financial services provider’s stock valued at $1,988,000 after purchasing an additional 367 shares during the last quarter. Activest Wealth Management grew its holdings in OneMain by 1,102.1% during the third quarter. Activest Wealth Management now owns 577 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 529 shares during the period. TD Waterhouse Canada Inc. increased its position in OneMain by 3.0% in the third quarter. TD Waterhouse Canada Inc. now owns 17,050 shares of the financial services provider’s stock worth $951,000 after buying an additional 502 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in OneMain by 1.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,186 shares of the financial services provider’s stock worth $1,478,000 after buying an additional 336 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

OneMain Trading Down 0.3%

Shares of OneMain stock opened at $65.36 on Tuesday. The company’s 50-day moving average price is $66.49 and its 200-day moving average price is $61.21. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $71.93. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.37 and a beta of 1.33.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.58 by $0.32. OneMain had a net margin of 13.15% and a return on equity of 22.70%. The company had revenue of $747.00 million during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the company earned $1.31 earnings per share. On average, sell-side analysts predict that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OMF shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research note on Monday, December 29th. JMP Securities set a $68.00 target price on shares of OneMain in a research report on Monday, November 24th. Wall Street Zen lowered shares of OneMain from a “buy” rating to a “hold” rating in a research report on Sunday, January 18th. Barclays upped their price target on shares of OneMain from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada lifted their price objective 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. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.33.

Insider Activity

In other news, SVP Michael A. Hedlund sold 652 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $62.00, for a total transaction of $40,424.00. Following the completion of the transaction, the senior vice president directly owned 15,179 shares in the company, valued at $941,098. The trade was a 4.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $59.20, for a total value of $296,000.00. Following the completion of the sale, the chief operating officer owned 88,221 shares in the company, valued at $5,222,683.20. This trade represents a 5.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 63,152 shares of company stock worth $4,269,999 in the last three months. Corporate insiders own 0.40% of the company’s stock.

OneMain Company Profile

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.