Principal Financial Group Inc. Acquires 87,084 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Principal Financial Group Inc. increased its stake in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 12.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 805,256 shares of the financial services provider's stock after purchasing an additional 87,084 shares during the quarter. Principal Financial Group Inc. owned about 0.67% of OneMain worth $37,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Empowered Funds LLC boosted its stake in OneMain by 10.3% during the first quarter. Empowered Funds LLC now owns 22,700 shares of the financial services provider's stock valued at $1,160,000 after buying an additional 2,119 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of OneMain by 12.2% during the first quarter. Concurrent Investment Advisors LLC now owns 5,481 shares of the financial services provider's stock worth $280,000 after acquiring an additional 597 shares during the last quarter. US Bancorp DE boosted its position in OneMain by 1.8% in the first quarter. US Bancorp DE now owns 14,040 shares of the financial services provider's stock valued at $717,000 after buying an additional 245 shares during the last quarter. Vanguard Group Inc. grew its position in shares of OneMain by 3.1% during the first quarter. Vanguard Group Inc. now owns 12,317,755 shares of the financial services provider's stock worth $629,314,000 after buying an additional 373,900 shares in the last quarter. Finally, Cercano Management LLC lifted its holdings in shares of OneMain by 434.1% during the 1st quarter. Cercano Management LLC now owns 194,631 shares of the financial services provider's stock worth $9,944,000 after acquiring an additional 158,187 shares during the period. Hedge funds and other institutional investors own 85.82% of the company's stock.

OneMain Price Performance

Shares of OneMain stock traded down $1.78 during trading hours on Tuesday, hitting $54.03. The company had a trading volume of 945,068 shares, compared to its average volume of 1,015,174. The company has a market cap of $6.45 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 0.68 and a beta of 1.54. OneMain Holdings, Inc. has a twelve month low of $36.80 and a twelve month high of $56.28. The company's 50-day moving average is $47.66 and its two-hundred day moving average is $48.52.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Tuesday, November 12th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $4.16 dividend on an annualized basis and a yield of 7.70%. OneMain's payout ratio is presently 91.03%.

Wall Street Analysts Forecast Growth

OMF has been the topic of a number of analyst reports. JMP Securities upped their price objective on OneMain from $60.00 to $62.00 and gave the stock a "market outperform" rating in a research note 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 report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on OneMain from $49.00 to $52.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. StockNews.com lowered OneMain from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Finally, Barclays lowered OneMain from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $52.00 to $46.00 in a report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.08.

Insider Transactions at OneMain

In other OneMain 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 transaction of $114,375.00. Following the completion of the sale, the chief operating officer now owns 117,025 shares of the company's stock, valued at $5,353,893.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other OneMain news, COO Micah R. Conrad sold 2,500 shares of the company's stock in a transaction 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 completion of the sale, the chief operating officer now owns 117,025 shares in the company, valued at $5,353,893.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Hedlund sold 2,400 shares of the company's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $46.00, for a total value of $110,400.00. Following the sale, the senior vice president now directly owns 25,747 shares in the company, valued at $1,184,362. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,792 shares of company stock worth $2,032,859. Corporate 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.