Redmont Wealth Advisors LLC Makes New Investment in OneMain Holdings, Inc. (NYSE:OMF)

Redmont Wealth Advisors LLC purchased a new position in shares of OneMain Holdings, Inc. (NYSE:OMF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,255 shares of the financial services provider’s stock, valued at approximately $209,000.

Several other hedge funds have also made changes to their positions in OMF. Capital International Investors increased its position in shares of OneMain by 77.1% during the first quarter. Capital International Investors now owns 9,842,786 shares of the financial services provider’s stock worth $466,646,000 after acquiring an additional 4,284,232 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in OneMain by 38.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,317,008 shares of the financial services provider’s stock worth $143,799,000 after purchasing an additional 1,204,312 shares during the period. Norges Bank acquired a new stake in OneMain in the fourth quarter worth approximately $38,089,000. Millennium Management LLC increased its holdings in shares of OneMain by 51.0% in the fourth quarter. Millennium Management LLC now owns 990,504 shares of the financial services provider’s stock valued at $32,994,000 after buying an additional 334,545 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of OneMain by 396.4% in the first quarter. Envestnet Asset Management Inc. now owns 402,749 shares of the financial services provider’s stock valued at $3,201,000 after buying an additional 321,613 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Price Performance

Shares of NYSE OMF traded up $0.50 during mid-day trading on Friday, reaching $48.40. 359,285 shares of the company’s stock traded hands, compared to its average volume of 1,027,427. The stock has a market cap of $5.80 billion, a P/E ratio of 9.10, a PEG ratio of 0.65 and a beta of 1.65. The business has a 50-day simple moving average of $48.13 and a 200 day simple moving average of $44.75. OneMain Holdings, Inc. has a 1-year low of $33.67 and a 1-year high of $51.65.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.37 by $0.02. OneMain had a net margin of 14.04% and a return on equity of 21.07%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $913.90 million. During the same quarter in the previous year, the firm posted $1.56 earnings per share. Equities research analysts anticipate that OneMain Holdings, Inc. will post 5.67 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 20th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 8.26%. The ex-dividend date was Friday, February 16th. OneMain’s dividend payout ratio is currently 75.19%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OMF. JPMorgan Chase & Co. upped their price objective on shares of OneMain from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Citigroup dropped their price target on shares of OneMain from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. JMP Securities reaffirmed a “market outperform” rating and set a $57.00 price objective on shares of OneMain in a report on Wednesday. StockNews.com raised shares of OneMain from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th. Finally, Stephens decreased their price target on shares of OneMain from $61.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.54.

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.