OneMain Holdings, Inc. (NYSE:OMF) is Basswood Capital Management L.L.C.’s 9th Largest Position

Basswood Capital Management L.L.C. raised its stake in OneMain Holdings, Inc. (NYSE:OMF) by 12.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,030,423 shares of the financial services provider’s stock after acquiring an additional 113,018 shares during the quarter. OneMain makes up approximately 2.5% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 9th largest position. Basswood Capital Management L.L.C.’s holdings in OneMain were worth $48,502,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OMF. Dimensional Fund Advisors LP boosted its position in OneMain by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,288,643 shares of the financial services provider’s stock worth $159,465,000 after purchasing an additional 270,207 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of OneMain by 1.3% during the 2nd quarter. Clearbridge Investments LLC now owns 1,914,355 shares of the financial services provider’s stock valued at $92,827,000 after buying an additional 24,338 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in OneMain by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,412,436 shares of the financial services provider’s stock valued at $66,483,000 after acquiring an additional 30,558 shares during the period. Bank of New York Mellon Corp increased its holdings in OneMain by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,169,590 shares of the financial services provider’s stock worth $56,713,000 after acquiring an additional 12,938 shares in the last quarter. Finally, Argent Capital Management LLC increased its holdings in OneMain by 20.2% in the 3rd quarter. Argent Capital Management LLC now owns 809,176 shares of the financial services provider’s stock worth $38,088,000 after acquiring an additional 136,224 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at OneMain

In other OneMain news, SVP Michael A. Hedlund sold 2,400 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $50.00, for a total transaction of $120,000.00. Following the completion of the transaction, the senior vice president now owns 20,947 shares of the company’s stock, valued at $1,047,350. This trade represents a 10.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas H. Shulman sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the sale, the chief executive officer now directly owns 417,474 shares in the company, valued at $20,873,700. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,178 shares of company stock worth $2,107,084 in the last 90 days. Insiders own 0.45% of the company’s stock.

OneMain Trading Up 0.7 %

Shares of OMF stock opened at $57.35 on Monday. OneMain Holdings, Inc. has a twelve month low of $41.70 and a twelve month high of $57.97. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 0.71 and a beta of 1.54. The company’s 50-day moving average price is $50.24 and its 200-day moving average price is $48.99.

OneMain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were paid a $1.04 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $4.16 annualized dividend and a dividend yield of 7.25%. OneMain’s dividend payout ratio (DPR) is 91.03%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com lowered shares of OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Stephens assumed coverage on OneMain in a report on Wednesday, November 13th. They issued an “overweight” rating and a $62.00 price objective on the stock. Barclays cut OneMain from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $52.00 to $46.00 in a report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 price target on shares of OneMain in a research note on Wednesday, October 16th. Finally, JMP Securities increased their price objective on OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, OneMain presently has an average rating of “Moderate Buy” and an average price target of $55.46.

OneMain 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.