Farther Finance Advisors LLC Acquires 1,226 Shares of OneMain Holdings, Inc. $OMF

Farther Finance Advisors LLC boosted its position in OneMain Holdings, Inc. (NYSE:OMF) by 73.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,896 shares of the financial services provider’s stock after purchasing an additional 1,226 shares during the period. Farther Finance Advisors LLC’s holdings in OneMain were worth $165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Central Pacific Bank Trust Division increased its position in shares of OneMain by 2.7% during the second quarter. Central Pacific Bank Trust Division now owns 8,079 shares of the financial services provider’s stock worth $461,000 after acquiring an additional 210 shares during the period. Essex Financial Services Inc. lifted its stake in shares of OneMain by 6.7% during the first quarter. Essex Financial Services Inc. now owns 4,591 shares of the financial services provider’s stock worth $224,000 after buying an additional 288 shares during the period. Deutsche Bank AG lifted its position in OneMain by 0.8% during the first quarter. Deutsche Bank AG now owns 36,581 shares of the financial services provider’s stock valued at $1,788,000 after purchasing an additional 290 shares during the period. Allworth Financial LP boosted its holdings in OneMain by 21.7% in the first quarter. Allworth Financial LP now owns 1,976 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 352 shares during the last quarter. Finally, Independent Advisor Alliance boosted its holdings in OneMain by 2.2% in the first quarter. Independent Advisor Alliance now owns 16,479 shares of the financial services provider’s stock valued at $805,000 after purchasing an additional 357 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OMF. Wells Fargo & Company initiated coverage on shares of OneMain in a research report on Monday, August 25th. They issued an “equal weight” rating for the company. JPMorgan Chase & Co. increased their price target on shares of OneMain from $50.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Finally, Barclays increased their price objective on shares of OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, OneMain presently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Insider Buying and Selling

In related news, CEO Douglas H. Shulman sold 35,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the sale, the chief executive officer owned 275,100 shares of the company’s stock, valued at approximately $16,360,197. The trade was a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.40% of the company’s stock.

OneMain Price Performance

Shares of NYSE:OMF opened at $56.38 on Friday. The firm has a market capitalization of $6.70 billion, a P/E ratio of 10.18, a P/E/G ratio of 0.43 and a beta of 1.32. OneMain Holdings, Inc. has a 12 month low of $38.00 and a 12 month high of $63.24. The company’s fifty day moving average price is $59.14 and its 200 day moving average price is $54.06.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. OneMain’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 earnings per share. On average, sell-side analysts anticipate that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.16 annualized dividend and a dividend yield of 7.4%. OneMain’s payout ratio is presently 75.09%.

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.