Algert Global LLC Cuts Stock Position in OneMain Holdings, Inc. (NYSE:OMF)

Algert Global LLC trimmed its holdings in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 14.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,838 shares of the financial services provider's stock after selling 18,774 shares during the quarter. Algert Global LLC owned approximately 0.09% of OneMain worth $5,076,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EdgeRock Capital LLC purchased a new stake in OneMain in the 2nd quarter valued at about $31,000. International Assets Investment Management LLC purchased a new stake in shares of OneMain in the second quarter valued at approximately $34,000. Blue Trust Inc. increased its holdings in OneMain by 43.4% during the 2nd 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. Abich Financial Wealth Management LLC raised its position 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 in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of OneMain by 32.6% in the 2nd quarter. UMB Bank n.a. now owns 1,779 shares of the financial services provider's stock worth $86,000 after buying an additional 437 shares during the period. 85.82% of the stock is owned by institutional investors.

OneMain Stock Up 1.4 %

Shares of OneMain stock traded up $0.78 during midday trading on Monday, hitting $57.38. The company had a trading volume of 1,309,140 shares, compared to its average volume of 1,014,969. The company has a fifty day simple moving average of $49.39 and a 200 day simple moving average of $48.76. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.70 and a beta of 1.54. OneMain Holdings, Inc. has a 12-month low of $37.93 and a 12-month high of $57.97.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Tuesday, November 12th were issued a $1.04 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.25%. OneMain's dividend payout ratio is currently 91.03%.

Insider Transactions at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total transaction of $1,083,800.00. Following the completion of the transaction, the chief executive officer now directly owns 392,474 shares of the company's stock, valued at approximately $21,268,166.06. This trade represents a 4.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Micah R. Conrad sold 1,614 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $50.00, for a total transaction of $80,700.00. Following the completion of the sale, the chief operating officer now owns 110,411 shares in the company, valued at $5,520,550. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,792 shares of company stock worth $2,187,784. Company insiders own 0.45% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on OMF shares. Wells Fargo & Company increased their target price on shares of OneMain from $49.00 to $52.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. JMP Securities increased their price objective 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. Northland Securities boosted their price objective on shares of OneMain from $53.00 to $55.00 and gave the stock a "market perform" rating in a research note on Thursday, August 1st. Barclays lowered OneMain from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $52.00 to $46.00 in a report on Tuesday, October 8th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $58.00 price target on shares of OneMain in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $55.46.

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.