Raymond James Financial Services Advisors Inc. Cuts Stake in OneMain Holdings, Inc. (NYSE:OMF)

Raymond James Financial Services Advisors Inc. cut its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 57.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,004 shares of the financial services provider’s stock after selling 6,669 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in OneMain were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Adage Capital Partners GP L.L.C. purchased a new stake in shares of OneMain during the third quarter valued at approximately $12,613,000. AQR Capital Management LLC grew its holdings in OneMain by 189.2% in the 3rd quarter. AQR Capital Management LLC now owns 429,260 shares of the financial services provider’s stock worth $17,209,000 after acquiring an additional 280,844 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of OneMain in the third quarter valued at about $7,115,000. Invesco Ltd. raised its stake in shares of OneMain by 36.5% during the third quarter. Invesco Ltd. now owns 565,150 shares of the financial services provider’s stock valued at $22,657,000 after acquiring an additional 151,226 shares during the last quarter. Finally, Algert Global LLC boosted its holdings in shares of OneMain by 157.1% during the third quarter. Algert Global LLC now owns 124,586 shares of the financial services provider’s stock worth $4,995,000 after purchasing an additional 76,122 shares during the period. 85.82% of the stock is currently owned by institutional investors.

OneMain Stock Performance

Shares of NYSE OMF opened at $50.42 on Wednesday. The company has a 50 day simple moving average of $48.26 and a two-hundred day simple moving average of $45.00. OneMain Holdings, Inc. has a fifty-two week low of $33.67 and a fifty-two week high of $51.65. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 9.48, a P/E/G ratio of 0.67 and a beta of 1.65.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.02. OneMain had a return on equity of 21.07% and a net margin of 14.04%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $913.90 million. During the same quarter last year, the company earned $1.56 EPS. On average, analysts forecast that OneMain Holdings, Inc. will post 5.67 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 20th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 7.93%. The ex-dividend date of this dividend was Friday, February 16th. OneMain’s dividend payout ratio (DPR) is 75.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stephens cut their price objective on OneMain from $61.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, February 8th. Royal Bank of Canada lifted their price target on shares of OneMain from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Citigroup decreased their price objective on shares of OneMain from $54.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, February 8th. JPMorgan Chase & Co. lifted their target price on shares of OneMain from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Finally, StockNews.com raised shares of OneMain from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.54.

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.