Foundations Investment Advisors LLC Cuts Stock Position in OneMain Holdings, Inc. $OMF

Foundations Investment Advisors LLC cut its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 22.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,519 shares of the financial services provider’s stock after selling 1,017 shares during the quarter. Foundations Investment Advisors LLC’s holdings in OneMain were worth $201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in OMF. SVB Wealth LLC bought a new position in OneMain during the first quarter valued at about $34,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of OneMain during the 1st quarter valued at approximately $42,000. Headlands Technologies LLC purchased a new stake in shares of OneMain during the 1st quarter worth approximately $46,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of OneMain by 79.4% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 820 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 363 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of OneMain by 2,940.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 912 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 882 shares during the period. 85.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OMF. JPMorgan Chase & Co. increased their price objective on OneMain from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Wall Street Zen raised OneMain from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Wells Fargo & Company assumed coverage on OneMain in a report on Monday, August 25th. They issued an “equal weight” rating for the company. Royal Bank Of Canada boosted their price objective on OneMain from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, Citigroup reiterated an “outperform” rating on shares of OneMain in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.13.

OneMain Stock Up 3.5%

OMF stock opened at $59.82 on Friday. The stock has a 50-day simple moving average of $57.79 and a two-hundred day simple moving average of $56.71. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $63.24. The firm has a market capitalization of $7.04 billion, a PE ratio of 10.80, a PEG ratio of 0.45 and a beta of 1.37.

OneMain (NYSE:OMF) last released its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.32. The company had revenue of $747.00 million during the quarter, compared to analyst estimates of $1.24 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. During the same period last year, the business earned $1.31 earnings per share. On average, equities research analysts anticipate that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 10th were given a dividend of $1.05 per share. This is an increase from OneMain’s previous quarterly dividend of $1.04. The ex-dividend date was Monday, November 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 7.0%. OneMain’s dividend payout ratio (DPR) is presently 71.19%.

Insiders Place Their Bets

In related news, CEO Douglas H. Shulman sold 35,000 shares of OneMain stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $59.54, for a total transaction of $2,083,900.00. Following the completion of the sale, the chief executive officer owned 231,600 shares of the company’s stock, valued at approximately $13,789,464. This trade represents a 13.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $59.20, for a total value of $296,000.00. Following the transaction, the chief operating officer owned 88,221 shares of the company’s stock, valued at approximately $5,222,683.20. The trade was a 5.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by insiders.

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.