IMA Wealth Inc. Trims Stock Holdings in OneMain Holdings, Inc. (NYSE:OMF)

IMA Wealth Inc. lowered its holdings in OneMain Holdings, Inc. (NYSE:OMF) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,243 shares of the financial services provider’s stock after selling 7,858 shares during the period. OneMain comprises 2.0% of IMA Wealth Inc.’s portfolio, making the stock its 16th largest position. IMA Wealth Inc. owned 0.07% of OneMain worth $3,899,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in OneMain in the third quarter valued at about $26,000. Blue Trust Inc. lifted its holdings in OneMain by 49.9% during the 4th quarter. Blue Trust Inc. now owns 730 shares of the financial services provider’s stock worth $36,000 after buying an additional 243 shares during the last quarter. Operose Advisors LLC bought a new position in OneMain during the 3rd quarter worth approximately $40,000. Allworth Financial LP lifted its holdings in OneMain by 368.4% during the 3rd quarter. Allworth Financial LP now owns 1,068 shares of the financial services provider’s stock worth $43,000 after buying an additional 840 shares during the last quarter. Finally, ZRC Wealth Management LLC bought a new position in OneMain during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on OMF shares. Piper Sandler downgraded OneMain from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $49.00 in a report on Thursday, February 8th. Wells Fargo & Company increased their price target on OneMain from $43.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 4th. Citigroup dropped their price target on OneMain from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Royal Bank of Canada increased their price target on OneMain from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on OneMain in a research report on Wednesday, January 10th. They set a “buy” rating and a $68.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.54.

OneMain Stock Up 0.7 %

NYSE OMF traded up $0.37 on Friday, reaching $50.89. 622,531 shares of the stock traded hands, compared to its average volume of 837,788. The firm’s fifty day simple moving average is $48.60 and its 200 day simple moving average is $45.26. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 9.57, a P/E/G ratio of 0.70 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 issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $1.39 earnings per share (EPS) 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 return on equity of 21.07% and a net margin of 14.04%. During the same period last year, the company posted $1.56 EPS. As a group, equities research analysts forecast that OneMain Holdings, Inc. will post 5.67 EPS for the current fiscal year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 20th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 7.86%. The ex-dividend date of this dividend was Friday, February 16th. OneMain’s payout ratio is currently 75.19%.

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.