Legend Financial Advisors Inc. Makes New Investment in OneMain Holdings, Inc. (NYSE:OMF)

Legend Financial Advisors Inc. purchased a new position in OneMain Holdings, Inc. (NYSE:OMF) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 500 shares of the financial services provider’s stock, valued at approximately $26,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OMF. Clearbridge Investments LLC boosted its stake in shares of OneMain by 1.3% during the 2nd quarter. Clearbridge Investments LLC now owns 1,914,355 shares of the financial services provider’s stock valued at $92,827,000 after buying an additional 24,338 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of OneMain during the 2nd quarter valued at approximately $608,000. TCW Group Inc. boosted its stake in shares of OneMain by 23.7% during the 3rd quarter. TCW Group Inc. now owns 55,999 shares of the financial services provider’s stock valued at $2,636,000 after buying an additional 10,744 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of OneMain by 13.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider’s stock valued at $110,000 after buying an additional 271 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of OneMain by 19.5% during the 2nd quarter. AQR Capital Management LLC now owns 678,499 shares of the financial services provider’s stock valued at $32,900,000 after buying an additional 110,862 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Activity at OneMain

In related news, CEO Douglas H. Shulman sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the completion of the transaction, the chief executive officer now owns 412,474 shares of the company’s stock, valued at $21,861,122. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Micah R. Conrad sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total value of $130,000.00. Following the transaction, the chief operating officer now directly owns 102,239 shares of the company’s stock, valued at $5,316,428. This represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,492 shares of company stock valued at $1,582,384 over the last 90 days. 0.45% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on OMF shares. JMP Securities increased their target price on OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 target price on shares of OneMain in a report on Wednesday, October 16th. Stephens started coverage on OneMain in a report on Wednesday, November 13th. They set an “overweight” rating and a $62.00 target price for the company. JPMorgan Chase & Co. raised their price target on OneMain from $56.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Barclays downgraded OneMain from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $52.00 to $46.00 in a research note on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.08.

OneMain Trading Up 0.4 %

NYSE:OMF traded up $0.22 during midday trading on Tuesday, hitting $53.41. 1,241,605 shares of the stock were exchanged, compared to its average volume of 852,901. The business has a 50-day moving average price of $54.14 and a two-hundred day moving average price of $50.03. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 0.69 and a beta of 1.58. OneMain Holdings, Inc. has a one year low of $41.70 and a one year high of $57.97.

OneMain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $4.16 annualized dividend and a yield of 7.79%. OneMain’s dividend payout ratio is currently 91.03%.

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.