SlateStone Wealth LLC Grows Stock Position in OneMain Holdings, Inc. (NYSE:OMF)

SlateStone Wealth LLC raised its holdings in OneMain Holdings, Inc. (NYSE:OMF) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,074 shares of the financial services provider’s stock after buying an additional 220 shares during the quarter. SlateStone Wealth LLC’s holdings in OneMain were worth $369,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OMF. Legend Financial Advisors Inc. purchased a new stake in OneMain in the fourth quarter valued at about $26,000. FNY Investment Advisers LLC purchased a new position in shares of OneMain in the fourth quarter worth about $26,000. Albion Financial Group UT purchased a new position in shares of OneMain in the fourth quarter worth about $26,000. Continuum Advisory LLC purchased a new position in shares of OneMain in the third quarter worth about $28,000. Finally, IFP Advisors Inc raised 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 worth $40,000 after purchasing an additional 495 shares during the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OMF has been the subject of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $65.00 price objective on shares of OneMain in a research note on Monday, February 3rd. Wells Fargo & Company raised their price objective on OneMain from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. dropped their target price on OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada raised their target price on OneMain from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Stephens reaffirmed an “overweight” rating and set a $62.00 target price on shares of OneMain in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.36.

Insider Activity

In other news, SVP Michael A. Hedlund sold 2,808 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was 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 $887,960.79. This trade represents a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.45% of the company’s stock.

OneMain Trading Up 7.3 %

Shares of OMF opened at $48.68 on Monday. OneMain Holdings, Inc. has a 12 month low of $41.70 and a 12 month high of $58.90. The stock’s 50 day moving average is $53.82 and its two-hundred day moving average is $51.81. The firm has a market cap of $5.81 billion, a P/E ratio of 11.48, a PEG ratio of 0.44 and a beta of 1.62.

OneMain Announces Dividend

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

About OneMain

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.