Quest Partners LLC Grows Position in OneMain Holdings, Inc. (NYSE:OMF)

Quest Partners LLC raised its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 430.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,622 shares of the financial services provider's stock after buying an additional 31,341 shares during the quarter. Quest Partners LLC's holdings in OneMain were worth $1,818,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Clearbridge Investments LLC grew its holdings in OneMain by 64.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,890,017 shares of the financial services provider's stock valued at $96,561,000 after buying an additional 743,034 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in OneMain during the 2nd quarter valued at about $608,000. Swedbank AB purchased a new position in OneMain during the 1st quarter valued at about $817,000. Argent Capital Management LLC grew its holdings in OneMain by 33.6% during the 2nd quarter. Argent Capital Management LLC now owns 672,952 shares of the financial services provider's stock valued at $32,631,000 after buying an additional 169,339 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of OneMain by 13.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider's stock worth $110,000 after purchasing an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

OneMain Trading Down 1.0 %

OMF stock traded down $0.53 during midday trading on Tuesday, hitting $54.52. The company had a trading volume of 749,838 shares, compared to its average volume of 1,017,693. OneMain Holdings, Inc. has a 52 week low of $37.78 and a 52 week high of $56.28. The stock's 50 day moving average price is $48.27 and its 200 day moving average price is $48.62. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 0.68 and a beta of 1.54.

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were issued a dividend of $1.04 per share. 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 7.63%. OneMain's dividend payout ratio is presently 91.03%.

Insider Activity at OneMain

In other news, SVP Michael A. Hedlund sold 2,400 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $46.00, for a total value of $110,400.00. Following the transaction, the senior vice president now owns 25,747 shares of the company's stock, valued at $1,184,362. This trade represents a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas H. Shulman sold 20,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was 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 of the company's stock, valued at $21,268,166.06. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,292 shares of company stock worth $2,307,784 over the last quarter. 0.45% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OMF shares. Stephens started coverage on OneMain in a report on Wednesday, November 13th. They set an "overweight" rating and a $62.00 price objective for the company. Wells Fargo & Company boosted their price objective on OneMain from $49.00 to $52.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Royal Bank of Canada restated an "outperform" rating and issued a $58.00 target price on shares of OneMain in a research report on Wednesday, October 16th. Northland Securities boosted their target price on OneMain from $53.00 to $55.00 and gave the stock a "market perform" rating in a research report on Thursday, August 1st. Finally, JMP Securities boosted their target price on OneMain from $60.00 to $62.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, OneMain has a consensus 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.