Arrowstreet Capital Limited Partnership Reduces Holdings in OneMain Holdings, Inc. (NYSE:OMF)

Arrowstreet Capital Limited Partnership reduced its stake in OneMain Holdings, Inc. (NYSE:OMF) by 17.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,808,347 shares of the financial services provider’s stock after selling 369,452 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in OneMain were worth $94,269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Orion Portfolio Solutions LLC raised its holdings in OneMain by 66.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 17,681 shares of the financial services provider’s stock valued at $922,000 after buying an additional 7,060 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of OneMain by 16.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 19,118 shares of the financial services provider’s stock valued at $997,000 after acquiring an additional 2,693 shares during the last quarter. Norges Bank purchased a new stake in shares of OneMain during the fourth quarter worth about $72,936,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of OneMain by 3.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 57,892 shares of the financial services provider’s stock worth $3,018,000 after purchasing an additional 1,870 shares during the last quarter. Finally, Barnett & Company Inc. increased its holdings in OneMain by 1.4% during the 4th quarter. Barnett & Company Inc. now owns 127,523 shares of the financial services provider’s stock valued at $6,648,000 after purchasing an additional 1,700 shares during the period. Institutional investors own 85.82% of the company’s stock.

Insider Transactions at OneMain

In other OneMain news, SVP Michael A. Hedlund sold 2,808 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $56.09, for a total transaction of $157,500.72. Following the completion of the sale, the senior vice president now directly owns 15,831 shares in the company, valued at approximately $887,960.79. This trade represents a 15.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.45% of the stock is owned by insiders.

OneMain Stock Up 0.9 %

OneMain stock opened at $48.84 on Tuesday. OneMain Holdings, Inc. has a twelve month low of $41.70 and a twelve month high of $58.90. The company has a market capitalization of $5.83 billion, a P/E ratio of 11.52, a PEG ratio of 0.44 and a beta of 1.62. The stock’s 50 day moving average is $53.08 and its 200 day moving average is $52.08.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Wednesday, February 12th were issued 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 dividend yield of 8.52%. OneMain’s payout ratio is presently 98.11%.

Analyst Ratings Changes

Several research firms have weighed in on OMF. Evercore ISI started coverage on OneMain in a report on Tuesday, March 25th. They issued an “in-line” rating and a $58.00 price objective for the company. Royal Bank of Canada raised their price target on OneMain from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Stephens reissued an “overweight” rating and set a $62.00 price objective on shares of OneMain in a research report on Monday, February 3rd. StockNews.com raised shares of OneMain from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, Barclays set a $56.00 price target on shares of OneMain in a research report on Friday, March 14th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, OneMain presently has a consensus rating of “Moderate Buy” and an average target price of $59.17.

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.