Atria Wealth Solutions Inc. Raises Holdings in OneMain Holdings, Inc. $OMF

Atria Wealth Solutions Inc. grew its position in shares of OneMain Holdings, Inc. (NYSE:OMF) by 22.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,423 shares of the financial services provider’s stock after purchasing an additional 978 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in OneMain were worth $309,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new position in shares of OneMain during the second quarter worth about $489,000. Allspring Global Investments Holdings LLC grew its holdings in shares of OneMain by 37.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 167,612 shares of the financial services provider’s stock worth $9,758,000 after purchasing an additional 46,035 shares during the last quarter. CWM LLC grew its holdings in shares of OneMain by 18.3% during the second quarter. CWM LLC now owns 45,981 shares of the financial services provider’s stock worth $2,621,000 after purchasing an additional 7,109 shares during the last quarter. Sippican Capital Advisors grew its holdings in shares of OneMain by 1.3% during the second quarter. Sippican Capital Advisors now owns 32,964 shares of the financial services provider’s stock worth $1,879,000 after purchasing an additional 425 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of OneMain by 23.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 23,748 shares of the financial services provider’s stock worth $1,354,000 after purchasing an additional 4,547 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Buying and Selling

In related news, CEO Douglas H. Shulman sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the sale, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. This trade represents a 11.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on OMF. Citigroup reiterated an “outperform” rating on shares of OneMain in a research note on Monday, October 13th. Wells Fargo & Company started coverage on OneMain in a research note on Monday, August 25th. They set an “equal weight” rating for the company. Wall Street Zen downgraded OneMain from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Barclays upped their price objective on OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of OneMain in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.50.

OneMain Stock Up 1.9%

Shares of NYSE:OMF opened at $56.55 on Wednesday. The company has a market cap of $6.72 billion, a P/E ratio of 10.21, a PEG ratio of 0.44 and a beta of 1.32. OneMain Holdings, Inc. has a 52 week low of $38.00 and a 52 week high of $63.24. The company has a 50-day moving average price of $58.55 and a 200 day moving average price of $54.60.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 earnings per share. Analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were given a $1.04 dividend. The ex-dividend date was Monday, August 4th. This represents a $4.16 dividend on an annualized basis and a yield of 7.4%. OneMain’s dividend payout ratio (DPR) is presently 75.09%.

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.