Sumitomo Mitsui Trust Group Inc. Trims Stock Position in OneMain Holdings, Inc. (NYSE:OMF)

Sumitomo Mitsui Trust Group Inc. lowered its stake in OneMain Holdings, Inc. (NYSE:OMF) by 41.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,491 shares of the financial services provider’s stock after selling 16,478 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in OneMain were worth $1,106,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of OneMain during the 3rd quarter worth approximately $238,000. State of New Jersey Common Pension Fund D grew its holdings in shares of OneMain by 3.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 40,581 shares of the financial services provider’s stock worth $1,910,000 after buying an additional 1,215 shares in the last quarter. Covestor Ltd lifted its position in OneMain by 10.8% during the third quarter. Covestor Ltd now owns 3,188 shares of the financial services provider’s stock worth $150,000 after buying an additional 311 shares during the period. Atria Investments Inc raised its stake in OneMain by 44.2% during the third quarter. Atria Investments Inc now owns 56,920 shares of the financial services provider’s stock worth $2,679,000 after purchasing an additional 17,457 shares during the period. Finally, Assetmark Inc. lifted its position in OneMain by 13.3% during the third quarter. Assetmark Inc. now owns 8,650 shares of the financial services provider’s stock valued at $407,000 after buying an additional 1,016 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

OneMain Stock Down 1.0 %

OMF stock opened at $54.51 on Wednesday. OneMain Holdings, Inc. has a 12 month low of $37.78 and a 12 month high of $56.28. The firm has a 50 day moving average of $48.72 and a two-hundred day moving average of $48.68. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 0.68 and a beta of 1.54.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Tuesday, November 12th were given a $1.04 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.63%. OneMain’s dividend payout ratio is currently 91.03%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JMP Securities upped their target price on shares of OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. StockNews.com cut OneMain from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Stephens began coverage on OneMain in a research note on Wednesday, November 13th. They set an “overweight” rating and a $62.00 target price on the stock. Compass Point upped their price target on shares of OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of OneMain in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, OneMain presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.46.

Insider Activity at OneMain

In related news, CEO Douglas H. Shulman sold 5,000 shares of OneMain stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the chief executive officer now owns 417,474 shares in the company, valued at $20,873,700. This trade represents a 1.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Micah R. Conrad sold 2,500 shares of OneMain stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $48.00, for a total value of $120,000.00. Following the sale, the chief operating officer now directly owns 112,025 shares in the company, valued at $5,377,200. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,292 shares of company stock valued at $2,307,784. Corporate 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.