Verdence Capital Advisors LLC Purchases 1,930 Shares of OneMain Holdings, Inc. $OMF

Verdence Capital Advisors LLC boosted its position in OneMain Holdings, Inc. (NYSE:OMF) by 5.4% during the 2nd quarter, Holdings Channel reports. The fund owned 37,683 shares of the financial services provider’s stock after buying an additional 1,930 shares during the period. Verdence Capital Advisors LLC’s holdings in OneMain were worth $2,148,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Atria Wealth Solutions Inc. lifted its holdings in shares of OneMain by 22.0% in the second quarter. Atria Wealth Solutions Inc. now owns 5,423 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 978 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of OneMain in the second quarter valued at approximately $489,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of OneMain by 37.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 167,612 shares of the financial services provider’s stock valued at $9,758,000 after purchasing an additional 46,035 shares in the last quarter. CWM LLC lifted its holdings in shares of OneMain by 18.3% in the second quarter. CWM LLC now owns 45,981 shares of the financial services provider’s stock valued at $2,621,000 after purchasing an additional 7,109 shares in the last quarter. Finally, Sippican Capital Advisors lifted its holdings in shares of OneMain by 1.3% in the second quarter. Sippican Capital Advisors now owns 32,964 shares of the financial services provider’s stock valued at $1,879,000 after purchasing an additional 425 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

OneMain Price Performance

NYSE:OMF opened at $53.23 on Tuesday. The business has a fifty day simple moving average of $58.68 and a two-hundred day simple moving average of $54.31. OneMain Holdings, Inc. has a 1 year low of $38.00 and a 1 year high of $63.24. The company has a market capitalization of $6.33 billion, a P/E ratio of 9.61, a P/E/G ratio of 0.42 and a beta of 1.32.

OneMain (NYSE:OMF) last released its earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share (EPS) 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 business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $1.02 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend was Monday, August 4th. OneMain’s dividend payout ratio (DPR) is currently 75.09%.

Insider Transactions at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 275,100 shares of the company’s stock, valued at $16,360,197. This trade represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

OMF has been the topic of a number of recent research reports. Wall Street Zen lowered OneMain from a “buy” rating to a “hold” rating in a report on Saturday. JMP Securities dropped their target price on OneMain from $65.00 to $63.00 and set a “market outperform” rating on the stock in a report on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a report on Wednesday, October 8th. Wells Fargo & Company started coverage on OneMain in a research report on Monday, August 25th. They set an “equal weight” rating for the company. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 price target (down from $63.00) on shares of OneMain in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, OneMain has an average rating of “Moderate Buy” and a consensus price target of $60.50.

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.