SlateStone Wealth LLC Acquires 1,264 Shares of OneMain Holdings, Inc. (NYSE:OMF)

SlateStone Wealth LLC raised its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 29.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,489 shares of the financial services provider’s stock after purchasing an additional 1,264 shares during the period. SlateStone Wealth LLC’s holdings in OneMain were worth $266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC boosted its position in shares of OneMain by 2.8% during the second quarter. Verdence Capital Advisors LLC now owns 35,033 shares of the financial services provider’s stock valued at $1,699,000 after buying an additional 941 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in OneMain by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,169,590 shares of the financial services provider’s stock worth $56,713,000 after acquiring an additional 12,938 shares during the last quarter. Argent Capital Management LLC grew its stake in shares of OneMain by 33.6% in the 2nd quarter. Argent Capital Management LLC now owns 672,952 shares of the financial services provider’s stock worth $32,631,000 after acquiring an additional 169,339 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of OneMain in the second quarter valued at about $31,000. Finally, Riverwater Partners LLC bought a new position in shares of OneMain during the second quarter valued at about $214,000. 85.82% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Douglas H. Shulman sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $46.30, for a total value of $694,500.00. Following the completion of the transaction, the chief executive officer now directly owns 422,474 shares in the company, valued at $19,560,546.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Micah R. Conrad sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $45.75, for a total transaction of $114,375.00. Following the completion of the transaction, the chief operating officer now directly owns 117,025 shares in the company, valued at $5,353,893.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Douglas H. Shulman sold 15,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $46.30, for a total value of $694,500.00. Following the completion of the transaction, the chief executive officer now owns 422,474 shares in the company, valued at $19,560,546.20. The disclosure for this sale can be found here. Insiders have sold a total of 20,500 shares of company stock worth $953,175 over the last ninety days. Company insiders own 0.45% of the company’s stock.

OneMain Trading Up 0.1 %

OMF opened at $48.87 on Tuesday. OneMain Holdings, Inc. has a 12 month low of $35.00 and a 12 month high of $54.94. The company has a market cap of $5.86 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 0.74 and a beta of 1.58. The company has a 50 day moving average of $48.65 and a 200 day moving average of $48.71.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.12. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. OneMain had a return on equity of 20.60% and a net margin of 12.33%. During the same period last year, the company earned $1.01 earnings per share. Research analysts forecast that OneMain Holdings, Inc. will post 5.37 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 8.51%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s payout ratio is presently 81.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OMF. TD Cowen boosted their target price on OneMain from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays reduced their price objective on OneMain from $55.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company lifted their target price on OneMain from $48.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. BMO Capital Markets increased their price target on shares of OneMain from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of OneMain from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, OneMain has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

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.