SVB Wealth LLC Acquires New Stake in OneMain Holdings, Inc. $OMF

SVB Wealth LLC purchased a new stake in OneMain Holdings, Inc. (NYSE:OMF) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 693 shares of the financial services provider’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new stake in OneMain in the 1st quarter valued at $27,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of OneMain during the 1st quarter worth about $42,000. Headlands Technologies LLC acquired a new position in shares of OneMain during the 1st quarter worth about $46,000. GAMMA Investing LLC increased its stake in shares of OneMain by 191.9% during the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 662 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of OneMain during the 4th quarter worth about $57,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Micah R. Conrad sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $60.00, for a total transaction of $180,000.00. Following the completion of the sale, the chief operating officer owned 98,007 shares of the company’s stock, valued at approximately $5,880,420. This represents a 2.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas H. Shulman sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the sale, the chief executive officer directly owned 275,100 shares of the company’s stock, valued at approximately $16,360,197. This trade represents a 11.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,000 shares of company stock valued at $3,715,340. 0.40% of the stock is currently owned by insiders.

OneMain Stock Up 0.4%

NYSE OMF opened at $61.42 on Thursday. The company has a market capitalization of $7.30 billion, a P/E ratio of 11.09, a P/E/G ratio of 0.48 and a beta of 1.29. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $61.81. The firm has a 50-day moving average price of $57.73 and a two-hundred day moving average price of $52.62.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 EPS. Equities analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.16 dividend on an annualized basis and a yield of 6.8%. OneMain’s payout ratio is currently 75.09%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on OMF shares. Wells Fargo & Company started coverage on shares of OneMain in a research note on Monday. They set an “equal weight” rating on the stock. JMP Securities restated a “market outperform” rating and set a $65.00 price objective on shares of OneMain in a research note on Wednesday, April 30th. Barclays boosted their price objective on shares of OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of OneMain from $50.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $61.50.

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.