Concurrent Investment Advisors LLC Reduces Stake in OneMain Holdings, Inc. $OMF

Concurrent Investment Advisors LLC reduced its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 18.9% in the second quarter, Holdings Channel reports. The fund owned 8,686 shares of the financial services provider’s stock after selling 2,019 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in OneMain were worth $495,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in OneMain in the first quarter valued at approximately $27,000. SVB Wealth LLC bought a new stake in shares of OneMain in the first quarter valued at $34,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of OneMain during the 1st quarter valued at $42,000. Headlands Technologies LLC bought a new position in shares of OneMain during the 1st quarter worth $46,000. Finally, Legend Financial Advisors Inc. purchased a new stake in OneMain in the 2nd quarter worth about $57,000. Institutional investors own 85.82% of the company’s stock.

Insider Transactions at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the transaction, the chief executive officer owned 275,100 shares of the company’s stock, valued at $16,360,197. The trade was a 11.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays upped their price objective on shares of OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. Wells Fargo & Company initiated coverage on shares of OneMain in a report on Monday, August 25th. They issued an “equal weight” rating for the company. JMP Securities lowered their target price on shares of OneMain from $65.00 to $63.00 and set a “market outperform” rating on the stock in a report on Monday, October 13th. Citigroup restated an “outperform” rating on shares of OneMain in a research report on Monday, October 13th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.50.

OneMain Price Performance

Shares of NYSE:OMF opened at $54.19 on Friday. The firm has a fifty day moving average price of $58.57 and a two-hundred day moving average price of $54.42. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 0.43 and a beta of 1.32. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $63.24.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.20. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the company earned $1.02 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Equities research analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Monday, August 4th. OneMain’s dividend payout ratio (DPR) is currently 75.09%.

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.