Envestnet Asset Management Inc. reduced its stake in OneMain Holdings, Inc. (NYSE:OMF – Free Report) by 76.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 96,584 shares of the financial services provider’s stock after selling 306,165 shares during the period. Envestnet Asset Management Inc.’s holdings in OneMain were worth $4,220,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of OMF. Capital International Investors raised its position in shares of OneMain by 77.1% in the 1st quarter. Capital International Investors now owns 9,842,786 shares of the financial services provider’s stock valued at $466,646,000 after purchasing an additional 4,284,232 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of OneMain by 38.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,317,008 shares of the financial services provider’s stock valued at $143,799,000 after purchasing an additional 1,204,312 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of OneMain by 153.0% in the 1st quarter. Rockefeller Capital Management L.P. now owns 1,951,127 shares of the financial services provider’s stock valued at $72,346,000 after purchasing an additional 1,179,938 shares during the last quarter. Norges Bank purchased a new position in shares of OneMain in the 4th quarter valued at approximately $38,089,000. Finally, FMR LLC raised its position in shares of OneMain by 7.0% in the 1st quarter. FMR LLC now owns 10,860,979 shares of the financial services provider’s stock valued at $402,725,000 after purchasing an additional 711,440 shares during the last quarter. 79.70% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently commented on OMF. Barclays assumed coverage on shares of OneMain in a research report on Wednesday, November 15th. They issued an “overweight” rating and a $51.00 price objective for the company. JPMorgan Chase & Co. cut their price target on shares of OneMain from $48.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Citigroup cut their price target on shares of OneMain from $50.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, October 6th. JMP Securities cut their price target on shares of OneMain from $55.00 to $53.00 in a report on Thursday, July 27th. Finally, TD Cowen assumed coverage on shares of OneMain in a report on Wednesday, November 1st. They issued an “outperform” rating and a $43.00 price target on the stock. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.46.
OneMain Price Performance
Shares of NYSE OMF opened at $38.54 on Tuesday. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 1.20 and a beta of 1.69. OneMain Holdings, Inc. has a 12 month low of $31.97 and a 12 month high of $48.64. The firm’s 50 day simple moving average is $38.32 and its 200-day simple moving average is $40.57.
OneMain (NYSE:OMF – Get Free Report) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.06. OneMain had a return on equity of 22.12% and a net margin of 14.58%. The firm had revenue of $900.00 million for the quarter, compared to analyst estimates of $907.28 million. Analysts anticipate that OneMain Holdings, Inc. will post 5.43 earnings per share for the current fiscal year.
OneMain Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Monday, November 6th were given a dividend of $1.00 per share. The ex-dividend date was Friday, November 3rd. This represents a $4.00 dividend on an annualized basis and a dividend yield of 10.38%. OneMain’s dividend payout ratio (DPR) is 73.80%.
OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses. The company originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards and insurance products comprising 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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