Golden State Wealth Management LLC Purchases 882 Shares of OneMain Holdings, Inc. $OMF

Golden State Wealth Management LLC grew its position in shares of OneMain Holdings, Inc. (NYSE:OMF) by 2,940.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 912 shares of the financial services provider’s stock after buying an additional 882 shares during the quarter. Golden State Wealth Management LLC’s holdings in OneMain were worth $52,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OMF. Teacher Retirement System of Texas bought a new stake in shares of OneMain in the 1st quarter worth approximately $853,000. Envestnet Asset Management Inc. increased its position in OneMain by 15.6% in the first quarter. Envestnet Asset Management Inc. now owns 92,189 shares of the financial services provider’s stock worth $4,506,000 after buying an additional 12,407 shares during the last quarter. Invesco Ltd. raised its stake in shares of OneMain by 16.4% in the first quarter. Invesco Ltd. now owns 335,097 shares of the financial services provider’s stock valued at $16,380,000 after buying an additional 47,099 shares during the period. New York State Common Retirement Fund lifted its position in shares of OneMain by 4.5% during the 1st quarter. New York State Common Retirement Fund now owns 622,015 shares of the financial services provider’s stock valued at $30,404,000 after buying an additional 26,881 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of OneMain by 226.3% during the 1st quarter. Victory Capital Management Inc. now owns 70,219 shares of the financial services provider’s stock worth $3,432,000 after acquiring an additional 48,702 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Buying and Selling

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $59.54, for a total value of $2,083,900.00. Following the completion of the transaction, the chief executive officer owned 231,600 shares of the company’s stock, valued at $13,789,464. The trade was a 13.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

OneMain Stock Performance

Shares of OMF stock opened at $60.10 on Friday. The company has a market capitalization of $7.08 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 0.45 and a beta of 1.37. OneMain Holdings, Inc. has a 52-week low of $38.00 and a 52-week high of $63.24. The business’s fifty day moving average is $58.28 and its 200 day moving average is $56.02.

OneMain (NYSE:OMF) last released its quarterly earnings results on Friday, October 31st. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.32. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. OneMain had a return on equity of 20.65% and a net margin of 12.63%.During the same quarter last year, the firm posted $1.31 EPS. On average, sell-side analysts forecast that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 10th will be given a dividend of $1.05 per share. The ex-dividend date is Monday, November 10th. This is a boost from OneMain’s previous quarterly dividend of $1.04. This represents a $4.20 annualized dividend and a yield of 7.0%. OneMain’s dividend payout ratio (DPR) is presently 71.19%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OMF shares. Weiss Ratings reiterated a “buy (b)” rating on shares of OneMain in a research note on Friday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of OneMain from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Royal Bank Of Canada boosted their target price on shares of OneMain from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Citigroup reaffirmed an “outperform” rating on shares of OneMain in a report on Monday, November 3rd. Finally, JMP Securities set a $70.00 price target on OneMain in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, OneMain currently has an average rating of “Moderate Buy” and an average price target of $63.13.

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.