Platinum Investment Management Ltd. Sells 347 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Platinum Investment Management Ltd. lessened its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 17.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,666 shares of the financial services provider’s stock after selling 347 shares during the period. Platinum Investment Management Ltd.’s holdings in OneMain were worth $87,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantinno Capital Management LP grew its position in OneMain by 0.7% in the 3rd quarter. Quantinno Capital Management LP now owns 27,732 shares of the financial services provider’s stock worth $1,305,000 after purchasing an additional 204 shares in the last quarter. SlateStone Wealth LLC raised its position in OneMain by 3.2% during the 4th quarter. SlateStone Wealth LLC now owns 7,074 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 220 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of OneMain by 5.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 4,724 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 231 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of OneMain by 4.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,884 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 234 shares during the period. Finally, Avitas Wealth Management LLC grew its stake in shares of OneMain by 0.6% in the 4th quarter. Avitas Wealth Management LLC now owns 45,432 shares of the financial services provider’s stock worth $2,368,000 after buying an additional 256 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Buying and Selling at OneMain

In other news, SVP Michael A. Hedlund sold 2,808 shares of OneMain stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $56.09, for a total value of $157,500.72. Following the transaction, the senior vice president now owns 15,831 shares of the company’s stock, valued at $887,960.79. The trade was a 15.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.45% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on OMF shares. JPMorgan Chase & Co. lowered their price target on OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company lifted their price target on OneMain from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. StockNews.com raised shares of OneMain from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Stephens reaffirmed an “overweight” rating and set a $62.00 price target on shares of OneMain in a research note on Monday, February 3rd. Finally, JMP Securities reissued a “market outperform” rating and set a $65.00 price objective on shares of OneMain in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.27.

OneMain Stock Down 0.6 %

OMF stock opened at $48.31 on Wednesday. OneMain Holdings, Inc. has a fifty-two week low of $41.70 and a fifty-two week high of $58.90. The firm’s 50-day simple moving average is $53.63 and its 200 day simple moving average is $51.80. The stock has a market cap of $5.77 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.44 and a beta of 1.62.

OneMain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Wednesday, February 12th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $4.16 annualized dividend and a yield of 8.61%. OneMain’s payout ratio is 98.11%.

About OneMain

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.