Summit Trail Advisors LLC Acquires New Holdings in OneMain Holdings, Inc. (NYSE:OMF)

Summit Trail Advisors LLC bought a new position in shares of OneMain Holdings, Inc. (NYSE:OMF) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,888 shares of the financial services provider’s stock, valued at approximately $431,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. EdgeRock Capital LLC bought a new stake in shares of OneMain during the 2nd quarter worth $31,000. International Assets Investment Management LLC acquired a new stake in shares of OneMain in the second quarter valued at about $34,000. Blue Trust Inc. increased its stake in shares of OneMain by 43.4% in the second quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in shares of OneMain during the 4th quarter worth about $47,000. Finally, Abich Financial Wealth Management LLC boosted its stake in OneMain by 46.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 304 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Activity

In related news, SVP Michael A. Hedlund sold 2,400 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $50.00, for a total value of $120,000.00. Following the completion of the sale, the senior vice president now owns 20,947 shares in the company, valued at $1,047,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Michael A. Hedlund sold 2,400 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $120,000.00. Following the completion of the transaction, the senior vice president now directly owns 20,947 shares in the company, valued at approximately $1,047,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas H. Shulman sold 15,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $46.30, for a total transaction of $694,500.00. Following the completion of the sale, the chief executive officer now owns 422,474 shares in the company, valued at $19,560,546.20. The disclosure for this sale can be found here. Insiders have sold a total of 32,300 shares of company stock valued at $1,534,275 in the last 90 days. 0.45% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on OMF shares. Barclays cut their price target on OneMain from $55.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of OneMain from $64.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. BTIG Research began coverage on shares of OneMain in a report on Friday, June 7th. They set a “neutral” rating on the stock. Northland Securities increased their target price on shares of OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Finally, JMP Securities boosted their price target on OneMain from $59.00 to $60.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, OneMain presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.25.

OneMain Stock Performance

NYSE:OMF opened at $48.33 on Tuesday. The stock’s fifty day moving average price is $48.17 and its two-hundred day moving average price is $48.78. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 0.72 and a beta of 1.56. OneMain Holdings, Inc. has a 52-week low of $35.00 and a 52-week high of $54.94.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.12. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $918.74 million. OneMain had a return on equity of 20.63% and a net margin of 12.33%. During the same period in the previous year, the business posted $1.01 EPS. On average, equities analysts predict that OneMain Holdings, Inc. will post 5.2 EPS for the current fiscal year.

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 8.61%. The ex-dividend date was Monday, August 12th. OneMain’s payout ratio is 81.09%.

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.