Franklin Resources Inc. Sells 16,318 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Franklin Resources Inc. lessened its stake in OneMain Holdings, Inc. (NYSE:OMF) by 13.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,217 shares of the financial services provider’s stock after selling 16,318 shares during the quarter. Franklin Resources Inc. owned about 0.09% of OneMain worth $4,784,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of OneMain in the 3rd quarter valued at about $184,000. Sanctuary Advisors LLC grew its holdings in OneMain by 143.4% during the third quarter. Sanctuary Advisors LLC now owns 17,405 shares of the financial services provider’s stock valued at $819,000 after purchasing an additional 10,253 shares during the period. TCW Group Inc. increased its stake in OneMain by 23.7% in the third quarter. TCW Group Inc. now owns 55,999 shares of the financial services provider’s stock valued at $2,636,000 after purchasing an additional 10,744 shares in the last quarter. Geode Capital Management LLC raised its holdings in OneMain by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,139,793 shares of the financial services provider’s stock worth $100,935,000 after purchasing an additional 13,978 shares during the period. Finally, Barclays PLC boosted its position in shares of OneMain by 22.0% during the third quarter. Barclays PLC now owns 100,831 shares of the financial services provider’s stock worth $4,747,000 after purchasing an additional 18,190 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Activity at OneMain

In other news, CEO Douglas H. Shulman sold 5,000 shares of OneMain stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the completion of the transaction, the chief executive officer now directly owns 412,474 shares in the company, valued at approximately $21,861,122. The trade was a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael A. Hedlund sold 1,992 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total transaction of $103,584.00. Following the completion of the transaction, the senior vice president now owns 18,955 shares in the company, valued at approximately $985,660. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,492 shares of company stock worth $1,582,384. Insiders own 0.45% of the company’s stock.

OneMain Trading Up 0.1 %

Shares of OMF opened at $51.95 on Tuesday. The company’s fifty day simple moving average is $53.04 and its 200 day simple moving average is $49.72. OneMain Holdings, Inc. has a 1-year low of $41.70 and a 1-year high of $57.97. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.69 and a beta of 1.56.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were issued a $1.04 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.01%. OneMain’s payout ratio is 91.03%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wells Fargo & Company upped their price objective on shares of OneMain from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. StockNews.com downgraded OneMain from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $58.00 price objective on shares of OneMain in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on OneMain from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, JMP Securities lifted their price target on shares of OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.08.

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.