Summit Securities Group LLC Invests $125,000 in OneMain Holdings, Inc. (NYSE:OMF)

Summit Securities Group LLC bought a new position in OneMain Holdings, Inc. (NYSE:OMF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,400 shares of the financial services provider’s stock, valued at approximately $125,000.

A number of other large investors have also added to or reduced their stakes in OMF. Quantinno Capital Management LP increased its position in OneMain by 0.7% in the third quarter. Quantinno Capital Management LP now owns 27,732 shares of the financial services provider’s stock worth $1,305,000 after buying an additional 204 shares in the last quarter. SlateStone Wealth LLC grew its stake in shares of OneMain by 3.2% during the 4th quarter. SlateStone Wealth LLC now owns 7,074 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 220 shares during the period. Atria Wealth Solutions Inc. increased its holdings in OneMain by 5.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 4,724 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 231 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in OneMain by 4.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,884 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 234 shares during the period. Finally, Avitas Wealth Management LLC lifted its holdings in OneMain by 0.6% during the fourth quarter. Avitas Wealth Management LLC now owns 45,432 shares of the financial services provider’s stock valued at $2,368,000 after purchasing an additional 256 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

OneMain Price Performance

NYSE:OMF opened at $48.43 on Friday. The business has a 50 day simple moving average of $53.20 and a 200-day simple moving average of $51.99. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 0.44 and a beta of 1.62. OneMain Holdings, Inc. has a 1 year low of $41.70 and a 1 year high of $58.90.

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Wednesday, February 12th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.59%. OneMain’s dividend payout ratio is 98.11%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OMF. JPMorgan Chase & Co. reduced their price objective on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Evercore ISI assumed coverage on OneMain in a research note on Tuesday, March 25th. They issued an “in-line” rating and a $58.00 price objective for the company. Wells Fargo & Company lifted their target price on OneMain from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Stephens restated an “overweight” rating and issued a $62.00 price target on shares of OneMain in a research note on Monday, February 3rd. Finally, StockNews.com upgraded shares of OneMain from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.17.

Insiders Place Their Bets

In related news, SVP Michael A. Hedlund sold 2,808 shares of OneMain stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $56.09, for a total transaction of $157,500.72. Following the completion of the sale, the senior vice president now owns 15,831 shares in the company, valued at $887,960.79. This trade represents a 15.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.45% of the company’s stock.

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.