Frank Rimerman Advisors LLC Acquires New Position in OneMain Holdings, Inc. (NYSE:OMF)

Frank Rimerman Advisors LLC bought a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 12,542 shares of the financial services provider’s stock, valued at approximately $608,000.

Several other institutional investors also recently bought and sold shares of the business. EdgeRock Capital LLC purchased a new stake in OneMain during the second quarter worth approximately $31,000. International Assets Investment Management LLC bought a new position in OneMain in the second quarter worth about $34,000. Blue Trust Inc. grew its holdings in shares of OneMain by 43.4% during the second quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 225 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in shares of OneMain during the fourth quarter valued at approximately $47,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of OneMain by 46.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 304 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OMF. Northland Securities upped their price objective on OneMain from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. BTIG Research began coverage on shares of OneMain in a research note on Friday, June 7th. They set a “neutral” rating for the company. Barclays dropped their price target on shares of OneMain from $55.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. JMP Securities increased their price objective on OneMain from $59.00 to $60.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. lifted their target price on OneMain from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.25.

OneMain Stock Down 1.5 %

NYSE:OMF opened at $48.33 on Tuesday. OneMain Holdings, Inc. has a 52-week low of $35.00 and a 52-week high of $54.94. The firm has a market cap of $5.79 billion, a P/E ratio of 9.42, a PEG ratio of 0.72 and a beta of 1.56. The business’s 50-day moving average price is $48.17 and its 200 day moving average price is $48.78.

OneMain (NYSE:OMF) last released its earnings results on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, beating the consensus estimate of $0.90 by $0.12. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.63%. During the same period in the prior year, the business earned $1.01 earnings per share. Sell-side analysts expect that OneMain Holdings, Inc. will post 5.2 EPS for the current year.

OneMain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.61%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s payout ratio is 81.09%.

Insider Transactions at OneMain

In related news, COO Micah R. Conrad sold 2,500 shares of OneMain stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $45.75, for a total value of $114,375.00. Following the transaction, the chief operating officer now owns 117,025 shares of the company’s stock, valued at approximately $5,353,893.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Michael A. Hedlund sold 2,400 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $46.00, for a total value of $110,400.00. Following the completion of the sale, the senior vice president now owns 25,747 shares in the company, valued at approximately $1,184,362. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 2,500 shares of OneMain stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $45.75, for a total transaction of $114,375.00. Following the transaction, the chief operating officer now owns 117,025 shares in the company, valued at $5,353,893.75. The disclosure for this sale can be found here. Insiders have sold 32,300 shares of company stock valued at $1,534,275 over the last three months. Company insiders own 0.45% of the company’s stock.

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.