DAVENPORT & Co LLC Sells 5,502 Shares of OneMain Holdings, Inc. (NYSE:OMF)

DAVENPORT & Co LLC decreased its stake in OneMain Holdings, Inc. (NYSE:OMF) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,101 shares of the financial services provider’s stock after selling 5,502 shares during the period. DAVENPORT & Co LLC’s holdings in OneMain were worth $4,958,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Legend Financial Advisors Inc. bought a new stake in shares of OneMain in the 4th quarter worth approximately $26,000. FNY Investment Advisers LLC bought a new stake in shares of OneMain in the 4th quarter valued at about $26,000. Albion Financial Group UT purchased a new stake in OneMain during the 4th quarter valued at about $26,000. Continuum Advisory LLC purchased a new position in OneMain in the 3rd quarter worth approximately $28,000. Finally, R Squared Ltd purchased a new stake in shares of OneMain during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Compass Point raised their price target on shares of OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada raised their target price on shares of OneMain from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. decreased their price target on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Stephens reissued an “overweight” rating and issued a $62.00 target price on shares of OneMain in a research report on Monday. Finally, Wells Fargo & Company boosted their target price on shares of OneMain from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.15.

OneMain Stock Performance

NYSE OMF opened at $54.60 on Tuesday. The stock has a 50 day moving average price of $54.74 and a 200-day moving average price of $50.87. OneMain Holdings, Inc. has a one year low of $41.70 and a one year high of $58.90. The company has a market capitalization of $6.52 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.48 and a beta of 1.59.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Wednesday, February 12th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 7.62%. The ex-dividend date is Wednesday, February 12th. OneMain’s dividend payout ratio (DPR) is presently 98.11%.

Insiders Place Their Bets

In other news, CEO Douglas H. Shulman sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total value of $1,083,800.00. Following the sale, the chief executive officer now directly owns 392,474 shares in the company, valued at approximately $21,268,166.06. This trade represents a 4.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.45% of the company’s stock.

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.