Forum Financial Management LP Purchases 209 Shares of OneMain Holdings, Inc. $OMF

Forum Financial Management LP increased its stake in OneMain Holdings, Inc. (NYSE:OMF) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,749 shares of the financial services provider’s stock after acquiring an additional 209 shares during the quarter. Forum Financial Management LP’s holdings in OneMain were worth $271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Central Pacific Bank Trust Division lifted its stake in shares of OneMain by 2.7% in the second quarter. Central Pacific Bank Trust Division now owns 8,079 shares of the financial services provider’s stock worth $461,000 after acquiring an additional 210 shares during the period. Vista Finance LLC lifted its stake in shares of OneMain by 4.1% in the second quarter. Vista Finance LLC now owns 7,073 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 279 shares during the period. Essex Financial Services Inc. lifted its stake in shares of OneMain by 6.7% in the first quarter. Essex Financial Services Inc. now owns 4,591 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 288 shares during the period. Deutsche Bank AG lifted its stake in shares of OneMain by 0.8% in the first quarter. Deutsche Bank AG now owns 36,581 shares of the financial services provider’s stock worth $1,788,000 after acquiring an additional 290 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of OneMain by 21.7% in the first quarter. Allworth Financial LP now owns 1,976 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 352 shares during the period. 85.82% of the stock is owned by institutional investors and hedge funds.

OneMain Stock Up 1.3%

Shares of NYSE:OMF opened at $57.10 on Monday. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $63.24. The stock’s 50 day moving average is $58.46 and its 200-day moving average is $55.00. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 0.46 and a beta of 1.32.

OneMain (NYSE:OMF) last issued its earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.20. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $1.02 earnings per share. OneMain’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

Insider Buying and Selling at OneMain

In other news, CEO Douglas H. Shulman sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the transaction, the chief executive officer directly owned 275,100 shares of the company’s stock, valued at $16,360,197. This 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 through this link. 0.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on OMF. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 price objective (down from $63.00) on shares of OneMain in a research note on Tuesday, October 7th. Barclays lifted their price objective on OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of OneMain in a research note on Wednesday, October 8th. JMP Securities cut their price target on OneMain from $65.00 to $63.00 and set a “market outperform” rating on the stock in a report on Monday, October 13th. Finally, Wall Street Zen downgraded shares of OneMain from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.50.

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.