OneMain (NYSE:OMF) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of OneMain (NYSE:OMF) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Several other equities analysts have also recently issued reports on the company. Northland Securities raised their price target on OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and issued a $58.00 price objective on shares of OneMain in a report on Wednesday, October 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price objective on shares of OneMain in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of OneMain from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company reduced their price target on OneMain from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

OneMain Stock Down 2.2 %

Shares of NYSE OMF opened at $46.60 on Friday. OneMain has a 12-month low of $35.00 and a 12-month high of $54.94. The firm’s 50-day simple moving average is $46.92 and its 200 day simple moving average is $48.35. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 0.87 and a beta of 1.56.

OneMain (NYSE:OMF) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.12. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.63%. During the same quarter last year, the business posted $1.01 earnings per share. On average, equities analysts expect that OneMain will post 4.91 earnings per share for the current year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.93%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s dividend payout ratio is currently 81.09%.

Insider Activity

In other news, SVP Michael A. Hedlund sold 2,400 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $46.00, for a total value of $110,400.00. Following the completion of the transaction, the senior vice president now owns 25,747 shares in the company, valued at $1,184,362. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Micah R. Conrad sold 886 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $44,300.00. Following the completion of the transaction, the chief operating officer now directly owns 104,739 shares in the company, valued at approximately $5,236,950. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael A. Hedlund sold 2,400 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $46.00, for a total transaction of $110,400.00. Following the transaction, the senior vice president now directly owns 25,747 shares of the company’s stock, valued at $1,184,362. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,300 shares of company stock worth $1,534,275 in the last 90 days. Corporate insiders own 0.45% of the company’s stock.

Institutional Trading of OneMain

Institutional investors have recently made changes to their positions in the business. EdgeRock Capital LLC acquired a new stake in OneMain in the 2nd quarter valued at $31,000. International Assets Investment Management LLC bought a new stake in OneMain during the second quarter worth about $34,000. Blue Trust Inc. boosted its position in OneMain by 43.4% during the second quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 225 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake in OneMain by 46.1% in the first quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 304 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of OneMain by 32.6% during the 2nd quarter. UMB Bank n.a. now owns 1,779 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 437 shares during the last quarter. Institutional investors own 85.82% 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.