Redmont Wealth Advisors LLC Has $175,000 Stock Position in OneMain Holdings, Inc. (NYSE:OMF)

18 Oct 2024, 13:46 by Jessica Moore · The Cerbat Gem

Redmont Wealth Advisors LLC lessened its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF – Free Report) by 8.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,723 shares of the financial services provider’s stock after selling 345 shares during the quarter. Redmont Wealth Advisors LLC’s holdings in OneMain were worth $175,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMF. Capital International Investors raised its position in shares of OneMain by 10.2% during the first quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock worth $488,937,000 after purchasing an additional 889,387 shares during the period. Clearbridge Investments LLC raised 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 worth $96,561,000 after buying an additional 743,034 shares during the period. Principal Financial Group Inc. lifted its stake in OneMain by 7,566.2% in the second quarter. Principal Financial Group Inc. now owns 718,172 shares of the financial services provider’s stock valued at $34,824,000 after buying an additional 708,804 shares in the last quarter. Argent Capital Management LLC lifted its stake in OneMain by 608.1% in the first quarter. Argent Capital Management LLC now owns 503,613 shares of the financial services provider’s stock valued at $25,730,000 after buying an additional 432,492 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of OneMain by 3.1% in the first quarter. Vanguard Group Inc. now owns 12,317,755 shares of the financial services provider’s stock valued at $629,314,000 after buying an additional 373,900 shares during the period. 85.82% of the stock is currently owned by institutional investors.

Insider Transactions at OneMain

In other news, COO Micah R. Conrad sold 886 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $44,300.00. Following the transaction, the chief operating officer now owns 104,739 shares in the company, valued at approximately $5,236,950. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other OneMain news, SVP Michael A. Hedlund sold 2,400 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $46.00, for a total value of $110,400.00. Following the completion of the sale, the senior vice president now owns 25,747 shares of the company’s stock, valued at $1,184,362. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Micah R. Conrad sold 886 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $44,300.00. Following the transaction, the chief operating officer now directly owns 104,739 shares in the company, valued at $5,236,950. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,300 shares of company stock worth $1,534,275 over the last quarter. Company insiders own 0.45% of the company’s stock.

OneMain Stock Down 0.6 %

OMF opened at $47.75 on Friday. OneMain Holdings, Inc. has a 12-month low of $35.00 and a 12-month high of $54.94. The business has a 50 day moving average of $46.85 and a 200-day moving average of $48.40. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 0.87 and a beta of 1.56.

OneMain (NYSE:OMF – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, beating the consensus estimate of $0.90 by $0.12. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.63%. During the same period in the previous year, the company earned $1.01 earnings per share. As a group, analysts expect that OneMain Holdings, Inc. will post 4.91 earnings per share for the current year.

OneMain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $4.16 annualized dividend and a yield of 8.71%. OneMain’s dividend payout ratio (DPR) is presently 81.09%.

Analyst Ratings Changes

Several research firms recently commented on OMF. Deutsche Bank Aktiengesellschaft cut their price objective on shares of OneMain from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Barclays cut OneMain from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $52.00 to $46.00 in a research report on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 target price on shares of OneMain in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on OneMain from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Finally, Wells Fargo & Company lowered their price objective on shares of OneMain from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Monday. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, OneMain has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Read Our Latest Report on OneMain

About OneMain

(Free Report)

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.