Aviance Capital Partners LLC Has $1.66 Million Stake in OneMain Holdings, Inc. (NYSE:OMF)

Aviance Capital Partners LLC raised its position in shares of OneMain Holdings, Inc. (NYSE:OMF) by 8.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 33,887 shares of the financial services provider’s stock after acquiring an additional 2,708 shares during the period. Aviance Capital Partners LLC’s holdings in OneMain were worth $1,656,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in shares of OneMain in the first quarter valued at approximately $27,000. IFP Advisors Inc increased its holdings in shares of OneMain by 180.0% in the fourth quarter. IFP Advisors Inc now owns 770 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 495 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 purchasing an additional 662 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of OneMain in the first quarter valued at approximately $54,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of OneMain in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Stock Up 0.4%

Shares of NYSE OMF opened at $59.50 on Friday. The company’s fifty day moving average is $52.23 and its 200-day moving average is $51.57. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.51 and a beta of 1.32. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $60.08.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.17. OneMain had a net margin of 11.06% and a return on equity of 19.30%. The company had revenue of $188.00 million for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm posted $1.45 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, research analysts anticipate that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were issued a dividend of $1.04 per share. The ex-dividend date was Friday, May 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 6.99%. OneMain’s payout ratio is 87.95%.

Insiders Place Their Bets

In other OneMain news, CEO Douglas H. Shulman sold 20,000 shares of OneMain stock in a transaction on Monday, June 16th. The shares were sold at an average price of $52.56, for a total value of $1,051,200.00. Following the sale, the chief executive officer directly owned 323,925 shares in the company, valued at approximately $17,025,498. The trade was a 5.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Micah R. Conrad sold 4,000 shares of OneMain stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.02, for a total transaction of $232,080.00. Following the completion of the sale, the chief operating officer owned 101,007 shares in the company, valued at $5,860,426.14. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,000 shares of company stock worth $4,902,190. 0.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Northland Securities raised shares of OneMain from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 8th. Evercore ISI assumed coverage on shares of OneMain in a report on Tuesday, March 25th. They issued an “in-line” rating and a $58.00 price target for the company. JPMorgan Chase & Co. lowered their price target on shares of OneMain from $58.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. JMP Securities reissued a “market outperform” rating and issued a $65.00 price target on shares of OneMain in a report on Wednesday, April 30th. Finally, Barclays set a $56.00 price target on shares of OneMain in a report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, OneMain currently has an average rating of “Moderate Buy” and an average price target of $58.40.

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.