OneMain Holdings, Inc. (NYSE:OMF) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its position in OneMain Holdings, Inc. (NYSE:OMF) by 12.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,458 shares of the financial services provider’s stock after selling 1,050 shares during the period. Kovack Advisors Inc.’s holdings in OneMain were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OMF. EdgeRock Capital LLC acquired a new position in shares of OneMain in the second quarter valued at about $31,000. International Assets Investment Management LLC purchased a new stake in OneMain in the second quarter valued at approximately $34,000. Blue Trust Inc. raised its position in OneMain by 43.4% during the 2nd quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock worth $38,000 after buying an additional 225 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in OneMain by 46.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 304 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of OneMain by 32.6% in the 2nd quarter. UMB Bank n.a. now owns 1,779 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

OneMain Stock Up 1.3 %

OMF stock opened at $55.46 on Friday. The stock has a market capitalization of $6.62 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.67 and a beta of 1.54. OneMain Holdings, Inc. has a 52 week low of $37.78 and a 52 week high of $56.28. The firm has a 50-day simple moving average of $48.27 and a 200-day simple moving average of $48.66.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.50%. OneMain’s payout ratio is currently 91.03%.

Insider Activity

In other OneMain news, CEO Douglas H. Shulman sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $54.19, for a total value of $1,083,800.00. Following the transaction, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Micah R. Conrad sold 886 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $44,300.00. Following the sale, the chief operating officer now directly owns 104,739 shares of the company’s stock, valued at $5,236,950. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,292 shares of company stock worth $2,307,784 over the last quarter. 0.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

OMF has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on shares of OneMain from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Northland Securities boosted their price objective on OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Stephens initiated coverage on OneMain in a report on Wednesday. They set an “overweight” rating and a $62.00 target price on the stock. StockNews.com lowered OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, JMP Securities lifted their target price on shares of OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.46.

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.