Algert Global LLC Cuts Stake in OneMain Holdings, Inc. (NYSE:OMF)

Algert Global LLC lessened its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 14.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,838 shares of the financial services provider’s stock after selling 18,774 shares during the period. Algert Global LLC owned approximately 0.09% of OneMain worth $5,076,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. EdgeRock Capital LLC acquired a new position in OneMain during the 2nd quarter valued at approximately $31,000. International Assets Investment Management LLC acquired a new position in shares of OneMain in the 2nd quarter valued at $34,000. Blue Trust Inc. raised its stake in OneMain by 43.4% in the 2nd quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 225 shares during the last quarter. Abich Financial Wealth Management LLC lifted its position in OneMain by 46.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 304 shares during the period. Finally, UMB Bank n.a. grew its stake in OneMain by 32.6% during the 2nd quarter. UMB Bank n.a. now owns 1,779 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 437 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Analyst Ratings Changes

OMF has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on OneMain from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Stephens assumed coverage on shares of OneMain in a research note on Wednesday, November 13th. They set an “overweight” rating and a $62.00 price objective for the company. Barclays lowered shares of OneMain from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $52.00 to $46.00 in a research note on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and set a $58.00 target price on shares of OneMain in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, OneMain presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.46.

OneMain Stock Performance

Shares of NYSE OMF opened at $56.60 on Monday. The firm has a market cap of $6.76 billion, a PE ratio of 12.39, a PEG ratio of 0.68 and a beta of 1.54. OneMain Holdings, Inc. has a one year low of $37.93 and a one year high of $56.85. The firm has a fifty day moving average of $49.39 and a 200 day moving average of $48.76.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date was Tuesday, November 12th. OneMain’s dividend payout ratio is presently 91.03%.

Insider Activity at OneMain

In other news, COO Micah R. Conrad sold 1,614 shares of OneMain stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $50.00, for a total value of $80,700.00. Following the sale, the chief operating officer now directly owns 110,411 shares of the company’s stock, valued at $5,520,550. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael A. Hedlund sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total value of $120,000.00. Following the sale, the senior vice president now owns 20,947 shares of the company’s stock, valued at $1,047,350. The trade was a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,792 shares of company stock valued at $2,187,784. 0.45% of the stock is owned by corporate insiders.

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.