Verdence Capital Advisors LLC Acquires 525 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Verdence Capital Advisors LLC boosted its stake in OneMain Holdings, Inc. (NYSE:OMF) by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,753 shares of the financial services provider’s stock after buying an additional 525 shares during the quarter. Verdence Capital Advisors LLC’s holdings in OneMain were worth $1,748,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Orion Portfolio Solutions LLC grew its stake in shares of OneMain by 66.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 17,681 shares of the financial services provider’s stock worth $922,000 after acquiring an additional 7,060 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of OneMain by 15.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,263 shares of the financial services provider’s stock valued at $222,000 after buying an additional 569 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in OneMain by 56.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 121,577 shares of the financial services provider’s stock worth $5,966,000 after purchasing an additional 43,915 shares during the period. GAMMA Investing LLC increased its stake in OneMain by 191.9% in 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 period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in OneMain by 5.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,851 shares of the financial services provider’s stock worth $1,251,000 after purchasing an additional 1,441 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at OneMain

In other news, CEO Douglas H. Shulman sold 20,000 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $52.56, for a total transaction of $1,051,200.00. Following the transaction, the chief executive officer owned 323,925 shares in the company, valued at $17,025,498. This represents a 5.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 3,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer owned 98,007 shares in the company, valued at $5,880,420. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,000 shares of company stock valued at $5,082,190. Company insiders own 0.40% of the company’s stock.

OneMain Stock Performance

OMF stock opened at $57.55 on Friday. The stock has a market capitalization of $6.85 billion, a P/E ratio of 12.17, a PEG ratio of 0.49 and a beta of 1.32. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $60.12. The company has a 50 day moving average price of $54.22 and a two-hundred day moving average price of $52.00.

OneMain (NYSE:OMF) last released its earnings results on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.17. The company had revenue of $188.00 million during the quarter, compared to the consensus estimate of $1.16 billion. OneMain had a net margin of 11.06% and a return on equity of 19.30%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.45 EPS. Research analysts forecast that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date of this dividend was Friday, May 9th. OneMain’s dividend payout ratio is currently 87.95%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and set a $65.00 price target on shares of OneMain in a research report on Wednesday, April 30th. Barclays boosted their price target on OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Evercore ISI initiated coverage on OneMain in a research note on Tuesday, March 25th. They issued an “in-line” rating and a $58.00 price target for the company. Wells Fargo & Company upped their price objective on OneMain from $53.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Northland Capmk upgraded OneMain from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.78.

About OneMain

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.