Verdence Capital Advisors LLC Has $2.15 Million Position in OneMain Holdings, Inc. $OMF

Verdence Capital Advisors LLC boosted its position in OneMain Holdings, Inc. (NYSE:OMF) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,683 shares of the financial services provider’s stock after purchasing an additional 1,930 shares during the period. Verdence Capital Advisors LLC’s holdings in OneMain were worth $2,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of OMF. Alpine Bank Wealth Management acquired a new position in OneMain in the 1st quarter worth about $27,000. SVB Wealth LLC acquired a new position in OneMain in the 1st quarter worth about $34,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of OneMain in the first quarter valued at about $42,000. Headlands Technologies LLC acquired a new stake in shares of OneMain in the first quarter valued at about $46,000. Finally, GAMMA Investing LLC increased its stake in shares of OneMain by 191.9% in the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock valued at $49,000 after buying an additional 662 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

OMF has been the subject of several recent research reports. Citigroup reissued an “outperform” rating on shares of OneMain in a research note on Monday. Barclays increased their price target on OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. JMP Securities decreased their price target on OneMain from $65.00 to $63.00 and set a “market outperform” rating for the company in a research note on Monday. Wells Fargo & Company initiated coverage on OneMain in a research note on Monday, August 25th. They issued an “equal weight” rating for the company. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price target (down previously from $63.00) on shares of OneMain in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.50.

OneMain Price Performance

Shares of OneMain stock opened at $53.23 on Tuesday. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $63.24. The stock’s 50-day moving average is $58.68 and its 200 day moving average is $54.31. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 0.42 and a beta of 1.32.

OneMain (NYSE:OMF) last announced its earnings results on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the company earned $1.02 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were issued a $1.04 dividend. The ex-dividend date was Monday, August 4th. This represents a $4.16 annualized dividend and a yield of 7.8%. OneMain’s dividend payout ratio is presently 75.09%.

Insider Transactions at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the transaction, the chief executive officer owned 275,100 shares in the company, valued at approximately $16,360,197. This represents a 11.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.40% of the company’s stock.

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.