Summit Securities Group LLC Buys New Position in OneMain Holdings, Inc. (NYSE:OMF)

Summit Securities Group LLC purchased a new position in OneMain Holdings, Inc. (NYSE:OMF) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,400 shares of the financial services provider’s stock, valued at approximately $125,000.

A number of other institutional investors have also recently made changes to their positions in OMF. Ieq Capital LLC bought a new position in OneMain in the fourth quarter valued at $896,000. PNC Financial Services Group Inc. increased its position in shares of OneMain by 15.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,263 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 569 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of OneMain by 180.0% during the 4th 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. TCW Group Inc. lifted its position in OneMain by 23.7% in the 3rd quarter. TCW Group Inc. now owns 55,999 shares of the financial services provider’s stock worth $2,636,000 after buying an additional 10,744 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its position in OneMain by 143.4% during the third quarter. Sanctuary Advisors LLC now owns 17,405 shares of the financial services provider’s stock valued at $819,000 after acquiring an additional 10,253 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

Wall Street Analyst Weigh In

OMF has been the topic of several recent research reports. Royal Bank of Canada increased their target price on shares of OneMain from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Evercore ISI initiated coverage on shares of OneMain in a report on Tuesday, March 25th. They issued an “in-line” rating and a $58.00 price target on the stock. Barclays set a $56.00 target price on OneMain in a research note on Friday, March 14th. JMP Securities reaffirmed a “market outperform” rating and set a $65.00 price target on shares of OneMain in a research report on Monday, February 3rd. Finally, Wells Fargo & Company raised their target price on shares of OneMain from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.17.

Insider Activity at OneMain

In other news, SVP Michael A. Hedlund sold 2,808 shares of the company’s 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 transaction, the senior vice president now owns 15,831 shares in the company, valued at approximately $887,960.79. This represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.45% of the stock is currently owned by insiders.

OneMain Stock Down 4.1 %

OMF stock opened at $48.43 on Friday. The business has a 50 day moving average of $53.20 and a 200 day moving average of $51.99. OneMain Holdings, Inc. has a twelve month low of $41.70 and a twelve month high of $58.90. The firm has a market cap of $5.78 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 0.44 and a beta of 1.62.

OneMain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Wednesday, February 12th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 8.59%. The ex-dividend date of this dividend was Wednesday, February 12th. OneMain’s payout ratio is 98.11%.

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.