1,500,720 Shares in OneMain Holdings, Inc. $OMF Purchased by Norges Bank

Norges Bank bought a new stake in OneMain Holdings, Inc. (NYSE:OMF) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,500,720 shares of the financial services provider’s stock, valued at approximately $85,541,000. Norges Bank owned approximately 1.26% of OneMain as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of OMF. Kingstone Capital Partners Texas LLC bought a new position in shares of OneMain during the 2nd quarter valued at approximately $611,102,000. Dimensional Fund Advisors LP lifted its stake in OneMain by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,736,070 shares of the financial services provider’s stock valued at $182,610,000 after purchasing an additional 256,308 shares during the last quarter. Fiduciary Management Inc. WI grew its holdings in OneMain by 21.8% during the first quarter. Fiduciary Management Inc. WI now owns 2,647,875 shares of the financial services provider’s stock valued at $129,428,000 after purchasing an additional 474,161 shares during the period. Geode Capital Management LLC increased its position in OneMain by 0.7% in the second quarter. Geode Capital Management LLC now owns 2,276,830 shares of the financial services provider’s stock worth $130,075,000 after buying an additional 16,469 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of OneMain by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,432,703 shares of the financial services provider’s stock valued at $81,664,000 after buying an additional 31,919 shares during the period. 85.82% of the stock is currently owned by institutional investors.

Insider Activity

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $59.54, for a total value of $2,083,900.00. Following the completion of the transaction, the chief executive officer directly owned 231,600 shares in the company, valued at $13,789,464. This represents a 13.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael A. Hedlund sold 652 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $62.00, for a total transaction of $40,424.00. Following the transaction, the senior vice president owned 15,179 shares of the company’s stock, valued at approximately $941,098. This represents a 4.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 40,652 shares of company stock valued at $2,420,324 in the last 90 days. Company insiders own 0.40% of the company’s stock.

OneMain Trading Up 0.2%

Shares of NYSE OMF opened at $64.91 on Friday. The firm has a market capitalization of $7.64 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 0.44 and a beta of 1.38. The firm has a fifty day simple moving average of $58.13 and a two-hundred day simple moving average of $57.44. OneMain Holdings, Inc. has a 12 month low of $38.00 and a 12 month high of $65.55.

OneMain (NYSE:OMF) last released its earnings results on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.58 by $0.32. OneMain had a return on equity of 22.70% and a net margin of 13.15%.The business had revenue of $747.00 million for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the company posted $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.

OneMain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 10th were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 6.5%. This is a positive change from OneMain’s previous quarterly dividend of $1.04. The ex-dividend date was Monday, November 10th. OneMain’s dividend payout ratio (DPR) is presently 71.19%.

Analyst Ratings Changes

Several brokerages recently weighed in on OMF. Citizens Jmp decreased their price objective on OneMain from $70.00 to $68.00 and set a “market outperform” rating for the company in a report on Monday, November 24th. Citigroup reissued a “market outperform” rating on shares of OneMain in a research report on Monday, November 24th. Wells Fargo & Company assumed coverage on shares of OneMain in a report on Monday, August 25th. They issued an “equal weight” rating for the company. JMP Securities set a $68.00 price objective on shares of OneMain in a research note on Monday, November 24th. Finally, Royal Bank Of Canada increased their target price on OneMain from $68.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.63.

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.