Range Financial Group LLC Invests $1.85 Million in OneMain Holdings, Inc. (NYSE:OMF)

Range Financial Group LLC acquired a new position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 35,434 shares of the financial services provider's stock, valued at approximately $1,847,000.

A number of other hedge funds have also bought and sold shares of the business. Continuum Advisory LLC bought a new stake in shares of OneMain during the 3rd quarter valued at about $28,000. Blue Trust Inc. grew its position in OneMain by 64.1% during the third quarter. Blue Trust Inc. now owns 1,219 shares of the financial services provider's stock valued at $59,000 after buying an additional 476 shares during the period. Abich Financial Wealth Management LLC increased its holdings in OneMain by 27.4% during the second quarter. Abich Financial Wealth Management LLC now owns 1,227 shares of the financial services provider's stock valued at $59,000 after buying an additional 264 shares during the last quarter. UMB Bank n.a. raised its position in OneMain by 13.9% in the third quarter. UMB Bank n.a. now owns 2,026 shares of the financial services provider's stock worth $95,000 after acquiring an additional 247 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of OneMain by 13.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider's stock worth $110,000 after acquiring an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

OneMain Stock Up 0.4 %

OneMain stock traded up $0.22 during midday trading on Tuesday, reaching $53.41. 1,241,605 shares of the stock traded hands, compared to its average volume of 852,901. OneMain Holdings, Inc. has a 12 month low of $41.70 and a 12 month high of $57.97. The stock's fifty day moving average is $54.26 and its 200-day moving average is $50.06. The stock has a market cap of $6.37 billion, a P/E ratio of 11.69, a PEG ratio of 0.69 and a beta of 1.58.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 7.79%. The ex-dividend date was Tuesday, November 12th. OneMain's dividend payout ratio is presently 91.03%.

Insider Activity at OneMain

In other news, SVP Michael A. Hedlund sold 1,992 shares of OneMain stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total value of $103,584.00. Following the completion of the transaction, the senior vice president now owns 18,955 shares in the company, valued at approximately $985,660. The trade was a 9.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas H. Shulman sold 20,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total value of $1,083,800.00. Following the sale, the chief executive officer now owns 392,474 shares in the company, valued at $21,268,166.06. The trade was a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,492 shares of company stock valued at $1,582,384 over the last 90 days. 0.45% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on OMF. Wells Fargo & Company raised their target price on OneMain from $49.00 to $52.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on OneMain from $56.00 to $59.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Compass Point raised their target price on shares of OneMain from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Stephens began coverage on shares of OneMain in a report on Wednesday, November 13th. They set an "overweight" rating and a $62.00 price target on the stock. Finally, JMP Securities lifted their target price on shares of OneMain from $60.00 to $62.00 and gave the company a "market outperform" rating in a research note on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, OneMain currently has an average rating of "Moderate Buy" and an average price target of $56.08.

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.