Independent Advisor Alliance Buys 4,964 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Independent Advisor Alliance increased its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 44.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,122 shares of the financial services provider’s stock after purchasing an additional 4,964 shares during the quarter. Independent Advisor Alliance’s holdings in OneMain were worth $840,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Legend Financial Advisors Inc. acquired a new position in shares of OneMain during the fourth quarter worth $26,000. FNY Investment Advisers LLC bought a new position in OneMain in the fourth quarter valued at about $26,000. Albion Financial Group UT acquired a new stake in shares of OneMain during the fourth quarter valued at about $26,000. Continuum Advisory LLC bought a new stake in shares of OneMain during the third quarter worth about $28,000. Finally, IFP Advisors Inc increased its stake in shares of OneMain by 180.0% in the fourth 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 during the period. Institutional investors own 85.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on OMF shares. Stephens reissued an “overweight” rating and set a $62.00 target price on shares of OneMain in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered their target price on OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. JMP Securities reiterated a “market outperform” rating and issued a $65.00 price target on shares of OneMain in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on OneMain from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, StockNews.com raised shares of OneMain from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Five 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.36.

Insider Buying and Selling at OneMain

In related news, SVP Michael A. Hedlund sold 2,808 shares of the company’s stock in a transaction dated 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 owns 15,831 shares in the company, valued at $887,960.79. This represents a 15.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.45% of the company’s stock.

OneMain Stock Performance

Shares of OneMain stock opened at $48.68 on Friday. The stock has a market capitalization of $5.81 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 0.44 and a beta of 1.62. OneMain Holdings, Inc. has a 52 week low of $41.70 and a 52 week high of $58.90. The stock has a 50 day moving average price of $53.82 and a two-hundred day moving average price of $51.79.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Wednesday, February 12th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $4.16 dividend on an annualized basis and a yield of 8.55%. OneMain’s dividend payout ratio (DPR) is presently 98.11%.

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.