Janney Montgomery Scott LLC Buys 218,352 Shares of OneMain Holdings, Inc. $OMF

Janney Montgomery Scott LLC lifted its stake in OneMain Holdings, Inc. (NYSE:OMF) by 83.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 480,653 shares of the financial services provider’s stock after acquiring an additional 218,352 shares during the period. Janney Montgomery Scott LLC owned 0.40% of OneMain worth $27,397,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in OMF. Alpine Bank Wealth Management bought a new position in shares of OneMain in the 1st quarter worth $27,000. SVB Wealth LLC acquired a new position in OneMain during the 1st quarter valued at about $34,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in OneMain during the 1st quarter valued at about $42,000. Headlands Technologies LLC acquired a new position in OneMain during the 1st quarter valued at about $46,000. Finally, GAMMA Investing LLC increased its position in OneMain by 191.9% during the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock valued at $49,000 after buying an additional 662 shares in the last quarter. 85.82% of the stock is owned by institutional investors.

Insider Activity at OneMain

In other news, CEO Douglas H. Shulman sold 35,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the sale, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. This represents a 11.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by insiders.

OneMain Stock Down 1.1%

OneMain stock opened at $55.84 on Thursday. OneMain Holdings, Inc. has a 52 week low of $38.00 and a 52 week high of $63.24. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 0.44 and a beta of 1.32. The stock has a 50-day moving average price of $59.18 and a 200 day moving average price of $54.00.

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

OneMain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were paid a $1.04 dividend. The ex-dividend date was Monday, August 4th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.4%. OneMain’s dividend payout ratio is presently 75.09%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OMF. JPMorgan Chase & Co. upped their target price on OneMain from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Barclays upped their target price on OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company began coverage on OneMain in a research report on Monday, August 25th. They set an “equal weight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.