Raymond James Financial Inc. Makes New $2.08 Million Investment in OneMain Holdings, Inc. (NYSE:OMF)

Raymond James Financial Inc. acquired a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 39,811 shares of the financial services provider’s stock, valued at approximately $2,075,000.

Other hedge funds have also recently modified their holdings of the company. Ieq Capital LLC bought a new stake in OneMain in the fourth quarter worth $896,000. IFP Advisors Inc lifted its holdings in shares of OneMain by 180.0% in the 4th quarter. IFP Advisors Inc now owns 770 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 495 shares during the last quarter. TCW Group Inc. boosted its stake in shares of OneMain by 23.7% during the 3rd quarter. TCW Group Inc. now owns 55,999 shares of the financial services provider’s stock worth $2,636,000 after purchasing an additional 10,744 shares during the period. Sanctuary Advisors LLC grew its holdings in OneMain by 143.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,405 shares of the financial services provider’s stock valued at $819,000 after purchasing an additional 10,253 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in OneMain by 12.1% in the 3rd quarter. Principal Financial Group Inc. now owns 805,256 shares of the financial services provider’s stock worth $37,903,000 after purchasing an additional 87,084 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Transactions at OneMain

In other news, SVP Michael A. Hedlund sold 2,808 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $56.09, for a total transaction of $157,500.72. Following the transaction, the senior vice president now directly owns 15,831 shares of the company’s stock, valued at approximately $887,960.79. The trade was a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OMF. Wells Fargo & Company boosted their target price on shares of OneMain from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. dropped their target price on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Barclays set a $56.00 price target on shares of OneMain in a research note on Friday, March 14th. Evercore ISI assumed coverage on OneMain in a research note on Tuesday, March 25th. They issued an “in-line” rating and a $58.00 price objective on the stock. Finally, StockNews.com upgraded OneMain from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.17.

OneMain Stock Down 4.1 %

Shares of NYSE:OMF opened at $48.43 on Monday. The company has a market capitalization of $5.78 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.44 and a beta of 1.62. OneMain Holdings, Inc. has a 52-week low of $41.70 and a 52-week high of $58.90. The stock’s fifty day simple moving average is $53.20 and its 200-day simple moving average is $52.05.

OneMain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Wednesday, February 12th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $4.16 annualized dividend and a dividend yield of 8.59%. OneMain’s dividend payout ratio is presently 98.11%.

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.