KLP Kapitalforvaltning AS Makes New $1.29 Million Investment in OneMain Holdings, Inc. (NYSE:OMF)

KLP Kapitalforvaltning AS purchased a new stake in OneMain Holdings, Inc. (NYSE:OMF) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 24,700 shares of the financial services provider’s stock, valued at approximately $1,288,000.

Other institutional investors have also recently made changes to their positions in the company. William Blair Investment Management LLC bought a new stake in OneMain in the 4th quarter valued at about $46,195,000. Janus Henderson Group PLC increased its holdings in shares of OneMain by 69.0% during the third quarter. Janus Henderson Group PLC now owns 772,864 shares of the financial services provider’s stock valued at $36,377,000 after acquiring an additional 315,640 shares in the last quarter. American Century Companies Inc. raised its position in shares of OneMain by 29.2% during the fourth quarter. American Century Companies Inc. now owns 957,589 shares of the financial services provider’s stock worth $49,919,000 after purchasing an additional 216,157 shares during the period. Basswood Capital Management L.L.C. lifted its holdings in shares of OneMain by 12.3% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 1,030,423 shares of the financial services provider’s stock worth $48,502,000 after purchasing an additional 113,018 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in OneMain by 12.1% in the 3rd quarter. Principal Financial Group Inc. now owns 805,256 shares of the financial services provider’s stock valued at $37,903,000 after purchasing an additional 87,084 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on OMF. Royal Bank of Canada upped their price objective on shares of OneMain from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Evercore ISI began coverage on shares of OneMain in a research report on Tuesday, March 25th. They issued an “in-line” rating and a $58.00 price target on the stock. Wells Fargo & Company lifted their price target on OneMain from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. JMP Securities reissued a “market outperform” rating and issued a $65.00 price objective on shares of OneMain in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their target price on OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.17.

OneMain Price Performance

NYSE OMF opened at $48.43 on Friday. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 0.44 and a beta of 1.62. The business’s fifty day moving average is $53.20 and its 200-day moving average is $51.99. OneMain Holdings, Inc. has a one year low of $41.70 and a one year high of $58.90.

OneMain Dividend Announcement

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 $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 8.59%. The ex-dividend date of this dividend was Wednesday, February 12th. OneMain’s payout ratio is 98.11%.

Insider Activity

In related news, SVP Michael A. Hedlund sold 2,808 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was 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 in the company, valued at approximately $887,960.79. This represents a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.45% of the company’s stock.

OneMain Company 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.