Phocas Financial Corp. Sells 93,199 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Phocas Financial Corp. cut its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 85.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,341 shares of the financial services provider’s stock after selling 93,199 shares during the period. Phocas Financial Corp.’s holdings in OneMain were worth $852,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Legend Financial Advisors Inc. bought a new stake in OneMain during the 4th quarter worth approximately $26,000. FNY Investment Advisers LLC bought a new position in shares of OneMain in the fourth quarter worth $26,000. Albion Financial Group UT purchased a new stake in shares of OneMain in the fourth quarter worth $26,000. Continuum Advisory LLC bought a new stake in OneMain during the third quarter valued at $28,000. Finally, IFP Advisors Inc grew its position in OneMain by 180.0% during the fourth quarter. IFP Advisors Inc now owns 770 shares of the financial services provider’s stock worth $40,000 after buying an additional 495 shares in the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at OneMain

In other 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 transaction of $157,500.72. Following the completion of the transaction, the senior vice president now directly owns 15,831 shares of the company’s stock, valued at approximately $887,960.79. This represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.45% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

OMF has been the subject of several recent analyst reports. JMP Securities reissued a “market outperform” rating and set a $65.00 price objective on shares of OneMain in a report on Monday, February 3rd. Compass Point boosted their price target on shares of OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Stephens reiterated an “overweight” rating and issued a $62.00 target price on shares of OneMain in a research report on Monday, February 3rd. Finally, StockNews.com upgraded 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.36.

OneMain Price Performance

OMF opened at $52.58 on Wednesday. The stock’s 50 day simple moving average is $54.55 and its 200 day simple moving average is $51.60. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.44 and a beta of 1.59. OneMain Holdings, Inc. has a 1 year low of $41.70 and a 1 year high of $58.90.

OneMain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Wednesday, February 12th were issued a dividend of $1.04 per share. The ex-dividend date was Wednesday, February 12th. This represents a $4.16 dividend on an annualized basis and a yield of 7.91%. OneMain’s dividend payout ratio is currently 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.