Wealthfront Advisers LLC Makes New Investment in OneMain Holdings, Inc. (NYSE:OMF)

Wealthfront Advisers LLC purchased a new position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,548 shares of the financial services provider's stock, valued at approximately $1,280,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp increased its position in OneMain by 0.8% in the third quarter. State Street Corp now owns 2,140,861 shares of the financial services provider's stock worth $100,770,000 after buying an additional 16,615 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of OneMain by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,139,793 shares of the financial services provider's stock worth $100,935,000 after acquiring an additional 13,978 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of OneMain by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,412,436 shares of the financial services provider's stock worth $66,483,000 after acquiring an additional 30,558 shares during the period. Basswood Capital Management L.L.C. boosted its stake in shares of OneMain by 12.3% in the third quarter. Basswood Capital Management L.L.C. now owns 1,030,423 shares of the financial services provider's stock worth $48,502,000 after acquiring an additional 113,018 shares during the period. Finally, Argent Capital Management LLC boosted its stake in shares of OneMain by 2.3% in the fourth quarter. Argent Capital Management LLC now owns 827,710 shares of the financial services provider's stock worth $43,149,000 after acquiring an additional 18,534 shares during the period. Hedge funds and other institutional investors own 85.82% of the company's stock.

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OneMain Stock Up 3.0 %

Shares of OneMain stock traded up $1.46 during trading on Wednesday, reaching $49.80. The company's stock had a trading volume of 962,487 shares, compared to its average volume of 946,735. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 0.44 and a beta of 1.62. OneMain Holdings, Inc. has a 1-year low of $41.70 and a 1-year high of $58.90. The company has a 50-day simple moving average of $53.63 and a two-hundred day simple moving average of $51.80.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Wednesday, February 12th were given a $1.04 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.35%. OneMain's payout ratio is 98.11%.

Analyst Upgrades and Downgrades

OMF has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a "market outperform" rating and issued a $65.00 price objective on shares of OneMain in a research note on Monday, February 3rd. Stephens reaffirmed an "overweight" rating and issued a $62.00 price objective on shares of OneMain in a research note on Monday, February 3rd. Barclays set a $56.00 price target on OneMain in a research note on Friday. Wells Fargo & Company increased their price target on OneMain from $52.00 to $57.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Finally, StockNews.com raised OneMain from a "hold" rating to a "buy" rating in a research note on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, OneMain presently has an average rating of "Moderate Buy" and a consensus target price of $59.27.

Insider Transactions at OneMain

In other news, SVP Michael A. Hedlund sold 2,808 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $56.09, for a total value of $157,500.72. Following the completion of the sale, the senior vice president now owns 15,831 shares of the company's stock, valued at $887,960.79. This trade represents a 15.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.45% of the company's stock.

OneMain Company 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.