Wedge Capital Management L L P NC Reduces Position in OneMain Holdings, Inc. (NYSE:OMF)

Wedge Capital Management L L P NC lowered its stake in OneMain Holdings, Inc. (NYSE:OMF) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 346,554 shares of the financial services provider’s stock after selling 8,287 shares during the quarter. Wedge Capital Management L L P NC owned about 0.29% of OneMain worth $17,050,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in OMF. Handelsbanken Fonder AB lifted its holdings in OneMain by 8.6% in the fourth quarter. Handelsbanken Fonder AB now owns 18,881 shares of the financial services provider’s stock valued at $929,000 after acquiring an additional 1,500 shares during the period. Signaturefd LLC increased its position in OneMain by 11.1% during the 4th quarter. Signaturefd LLC now owns 6,414 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 642 shares in the last quarter. Verdence Capital Advisors LLC increased its position in OneMain by 1.3% during the 4th quarter. Verdence Capital Advisors LLC now owns 36,163 shares of the financial services provider’s stock worth $1,779,000 after purchasing an additional 455 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in OneMain in the 4th quarter worth approximately $209,000. Finally, Xponance Inc. purchased a new position in OneMain in the 4th quarter worth approximately $201,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Stock Up 0.2 %

Shares of NYSE:OMF traded up $0.09 during midday trading on Tuesday, reaching $49.25. The company’s stock had a trading volume of 49,192 shares, compared to its average volume of 1,016,733. The firm has a 50 day moving average of $48.26 and a 200-day moving average of $45.00. The firm has a market capitalization of $5.90 billion, a P/E ratio of 9.24, a PEG ratio of 0.67 and a beta of 1.65. OneMain Holdings, Inc. has a 12-month low of $33.67 and a 12-month high of $51.65.

OneMain (NYSE:OMF) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.02. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $913.90 million. OneMain had a net margin of 14.04% and a return on equity of 21.07%. During the same period last year, the firm posted $1.56 earnings per share. On average, research analysts predict that OneMain Holdings, Inc. will post 5.67 EPS for the current year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 20th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 8.12%. The ex-dividend date of this dividend was Friday, February 16th. OneMain’s dividend payout ratio is presently 75.19%.

Analysts Set New Price Targets

Several equities analysts have recently commented on OMF shares. Deutsche Bank Aktiengesellschaft assumed coverage on OneMain in a research note on Wednesday, January 10th. They set a “buy” rating and a $68.00 target price for the company. JMP Securities reissued a “market outperform” rating and set a $57.00 price target on shares of OneMain in a report on Wednesday, April 17th. Barclays decreased their price target on OneMain from $57.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, February 8th. Northland Securities downgraded OneMain from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $46.00 to $49.00 in a research note on Wednesday, January 17th. Finally, Wells Fargo & Company lifted their price objective on OneMain from $43.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, January 4th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, OneMain currently has an average rating of “Moderate Buy” and a consensus target price of $51.54.

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.