Principal Financial Group Inc. Increases Stock Position in OneMain Holdings, Inc. (NYSE:OMF)

Principal Financial Group Inc. raised its position in shares of OneMain Holdings, Inc. (NYSE:OMF) by 12.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 805,256 shares of the financial services provider’s stock after buying an additional 87,084 shares during the period. Principal Financial Group Inc. owned about 0.67% of OneMain worth $37,903,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Continuum Advisory LLC purchased a new stake in OneMain during the 3rd quarter valued at $28,000. International Assets Investment Management LLC bought a new position in OneMain in the 2nd quarter worth $34,000. Blue Trust Inc. raised its holdings in OneMain by 64.1% in the 3rd quarter. Blue Trust Inc. now owns 1,219 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 476 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in OneMain by 27.4% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,227 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 264 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in OneMain by 32.6% in the 2nd quarter. UMB Bank n.a. now owns 1,779 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on OMF shares. Wells Fargo & Company increased their price target on shares of OneMain from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Stephens started coverage on shares of OneMain in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $62.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of OneMain from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 price target on shares of OneMain in a research note on Wednesday, October 16th. Finally, Compass Point increased their price target on shares of OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, OneMain has a consensus rating of “Moderate Buy” and a consensus price target of $56.08.

OneMain Stock Up 0.1 %

Shares of NYSE OMF opened at $51.95 on Tuesday. The company has a market cap of $6.20 billion, a PE ratio of 11.37, a PEG ratio of 0.69 and a beta of 1.56. The firm’s 50-day moving average price is $53.04 and its 200-day moving average price is $49.72. OneMain Holdings, Inc. has a 52-week low of $41.70 and a 52-week high of $57.97.

OneMain Dividend Announcement

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

Insider Buying and Selling

In other OneMain news, COO Micah R. Conrad sold 2,500 shares of OneMain stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total transaction of $130,000.00. Following the transaction, the chief operating officer now owns 102,239 shares of the company’s stock, valued at $5,316,428. The trade was a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Hedlund sold 1,992 shares of OneMain stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 18,955 shares in the company, valued at $985,660. This represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,492 shares of company stock valued at $1,582,384. 0.45% of the stock is owned by insiders.

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.