Park Avenue Securities LLC Makes New Investment in OneMain Holdings, Inc. (NYSE:OMF)

Park Avenue Securities LLC bought a new position in OneMain Holdings, Inc. (NYSE:OMF) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,880 shares of the financial services provider’s stock, valued at approximately $371,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in OneMain by 3.1% in the first quarter. Vanguard Group Inc. now owns 12,317,755 shares of the financial services provider’s stock worth $629,314,000 after acquiring an additional 373,900 shares in the last quarter. Capital International Investors lifted its holdings in shares of OneMain by 10.2% during the first quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock valued at $488,937,000 after purchasing an additional 889,387 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of OneMain by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,288,643 shares of the financial services provider’s stock valued at $159,465,000 after purchasing an additional 270,207 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of OneMain by 1.3% during the second quarter. Clearbridge Investments LLC now owns 1,914,355 shares of the financial services provider’s stock valued at $92,827,000 after purchasing an additional 24,338 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of OneMain by 36.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,366,621 shares of the financial services provider’s stock valued at $67,238,000 after purchasing an additional 367,823 shares in the last quarter. 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 stock was sold at an average price of $46.30, for a total value of $694,500.00. Following the completion of the sale, the chief executive officer now directly owns 422,474 shares of the company’s stock, valued at $19,560,546.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Douglas H. Shulman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the sale, the chief executive officer now directly owns 417,474 shares of the company’s stock, valued at approximately $20,873,700. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas H. Shulman sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $46.30, for a total value of $694,500.00. Following the sale, the chief executive officer now directly owns 422,474 shares of the company’s stock, valued at $19,560,546.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,300 shares of company stock valued at $1,534,275 in the last ninety days. Insiders own 0.45% of the company’s stock.

OneMain Trading Up 1.2 %

NYSE:OMF opened at $46.18 on Friday. OneMain Holdings, Inc. has a 12-month low of $35.00 and a 12-month high of $54.94. The stock has a 50-day moving average price of $46.68 and a 200 day moving average price of $48.49. The stock has a market capitalization of $5.53 billion, a P/E ratio of 9.00, a P/E/G ratio of 0.87 and a beta of 1.56.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.12. OneMain had a return on equity of 20.63% and a net margin of 12.33%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. During the same period in the prior year, the company earned $1.01 earnings per share. On average, research analysts predict that OneMain Holdings, Inc. will post 4.91 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 9.01%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s payout ratio is presently 81.09%.

Analyst Ratings Changes

OMF has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price target on OneMain from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday. StockNews.com downgraded OneMain from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. lowered their target price on OneMain from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Barclays downgraded OneMain from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $52.00 to $46.00 in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on OneMain from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, OneMain presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

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.