Bank of America Corp DE Purchases 22,860 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Bank of America Corp DE raised its position in OneMain Holdings, Inc. (NYSE:OMF) by 7.7% in the 4th quarter, Holdings Channel reports. The firm owned 318,669 shares of the financial services provider’s stock after buying an additional 22,860 shares during the quarter. Bank of America Corp DE’s holdings in OneMain were worth $16,612,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of OMF. BNP Paribas Financial Markets boosted its stake in OneMain by 32.2% during the fourth quarter. BNP Paribas Financial Markets now owns 63,436 shares of the financial services provider’s stock valued at $3,307,000 after buying an additional 15,437 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of OneMain by 4.3% during the fourth quarter. Ameriprise Financial Inc. now owns 87,527 shares of the financial services provider’s stock worth $4,563,000 after purchasing an additional 3,631 shares in the last quarter. Aristeia Capital L.L.C. bought a new position in shares of OneMain in the fourth quarter worth approximately $375,000. AQR Capital Management LLC raised its stake in OneMain by 37.8% in the fourth quarter. AQR Capital Management LLC now owns 835,288 shares of the financial services provider’s stock valued at $43,544,000 after purchasing an additional 229,001 shares in the last quarter. Finally, Lido Advisors LLC lifted its position in OneMain by 6.8% during the fourth quarter. Lido Advisors LLC now owns 42,670 shares of the financial services provider’s stock valued at $2,224,000 after purchasing an additional 2,728 shares during the last quarter. 85.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on OMF. Barclays set a $56.00 price target on shares of OneMain in a report on Friday, March 14th. StockNews.com upgraded OneMain from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company dropped their price target on OneMain from $57.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Royal Bank of Canada raised their price objective on OneMain from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, Stephens restated an “overweight” rating and issued a $62.00 target price on shares of OneMain in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $58.40.

Insider Activity at OneMain

In related news, CEO Douglas H. Shulman sold 25,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $47.49, for a total value of $1,187,250.00. Following the completion of the transaction, the chief executive officer now directly owns 343,925 shares of the company’s stock, valued at $16,332,998.25. This represents a 6.78% 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. Also, SVP Michael A. Hedlund sold 2,808 shares of OneMain stock in a transaction that occurred 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 sale, the senior vice president now directly owns 15,831 shares in the company, valued at approximately $887,960.79. The trade was a 15.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,808 shares of company stock worth $3,344,751 in the last 90 days. Company insiders own 0.40% of the company’s stock.

OneMain Stock Performance

NYSE:OMF opened at $51.20 on Wednesday. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $58.90. The firm has a market cap of $6.09 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.44 and a beta of 1.28. The business has a 50 day moving average price of $47.77 and a 200-day moving average price of $51.99.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.17. The business had revenue of $188.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. OneMain had a net margin of 10.19% and a return on equity of 18.39%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.45 EPS. Research analysts predict that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $4.16 annualized dividend and a dividend yield of 8.13%. OneMain’s payout ratio is presently 87.95%.

OneMain 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.