Raymond James Financial Inc. Makes New Investment in OneMain Holdings, Inc. (NYSE:OMF)

Raymond James Financial Inc. acquired a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 39,811 shares of the financial services provider’s stock, valued at approximately $2,075,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legend Financial Advisors Inc. purchased a new stake in shares of OneMain in the 4th quarter valued at approximately $26,000. FNY Investment Advisers LLC acquired a new stake in OneMain during the 4th quarter valued at $26,000. Albion Financial Group UT purchased a new stake in shares of OneMain in the fourth quarter valued at $26,000. Continuum Advisory LLC acquired a new stake in shares of OneMain in the third quarter worth $28,000. Finally, IFP Advisors Inc grew its holdings in shares of OneMain by 180.0% during the fourth quarter. IFP Advisors Inc now owns 770 shares of the financial services provider’s stock valued at $40,000 after buying an additional 495 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Activity

In other news, SVP Michael A. Hedlund sold 2,808 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $56.09, for a total value of $157,500.72. Following the completion of the sale, the senior vice president now owns 15,831 shares in the company, valued at $887,960.79. This represents a 15.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.45% of the stock is currently owned by company insiders.

OneMain Stock Down 4.1 %

NYSE OMF opened at $48.43 on Monday. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 0.44 and a beta of 1.62. OneMain Holdings, Inc. has a twelve month low of $41.70 and a twelve month high of $58.90. The stock has a fifty day simple moving average of $53.20 and a 200 day simple moving average of $52.05.

OneMain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.04 per share. The ex-dividend date was Wednesday, February 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.59%. OneMain’s dividend payout ratio (DPR) is presently 98.11%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OMF. JMP Securities restated a “market outperform” rating and set a $65.00 price target on shares of OneMain in a report on Monday, February 3rd. Stephens reissued an “overweight” rating and set a $62.00 target price on shares of OneMain in a research note on Monday, February 3rd. Wells Fargo & Company upped their price target on shares of OneMain from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Barclays set a $56.00 price objective on OneMain in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. lowered their target price on OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, OneMain currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.17.

OneMain Company 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.