OneMain (NYSE:OMF) Price Target Cut to $58.00 by Analysts at Royal Bank of Canada

OneMain (NYSE:OMF) had its target price decreased by Royal Bank of Canada from $60.00 to $58.00 in a research note issued to investors on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of OneMain from $64.00 to $61.00 and set a buy rating for the company in a report on Tuesday, July 9th. Northland Securities lifted their target price on shares of OneMain from $53.00 to $55.00 and gave the stock a market perform rating in a report on Thursday, August 1st. Barclays cut shares of OneMain from an overweight rating to an equal weight rating and decreased their target price for the stock from $52.00 to $46.00 in a report on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of OneMain from $56.00 to $51.00 and set an overweight rating for the company in a report on Monday. Finally, JMP Securities reaffirmed a market outperform rating and issued a $60.00 target price on shares of OneMain in a report on Tuesday, September 24th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $54.33.

OneMain Price Performance

NYSE OMF traded up $0.88 during trading hours on Thursday, reaching $46.51. 60,377 shares of the company’s stock traded hands, compared to its average volume of 986,978. OneMain has a 52-week low of $35.00 and a 52-week high of $54.94. The firm has a market cap of $5.57 billion, a PE ratio of 9.37, a PEG ratio of 0.87 and a beta of 1.56. The firm has a 50-day simple moving average of $46.66 and a 200 day simple moving average of $48.52.

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

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $4.16 annualized dividend and a yield of 8.94%. OneMain’s dividend payout ratio (DPR) is 85.42%.

Insider Activity at OneMain

In related news, COO Micah R. Conrad sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total transaction of $114,375.00. Following the completion of the sale, the chief operating officer now directly owns 117,025 shares in the company, valued at approximately $5,353,893.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other OneMain news, CEO Douglas H. Shulman sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $46.30, for a total value of $694,500.00. Following the completion of the transaction, the chief executive officer now directly owns 422,474 shares in the company, valued at $19,560,546.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Micah R. Conrad sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $45.75, for a total transaction of $114,375.00. Following the completion of the transaction, the chief operating officer now owns 117,025 shares of the company’s stock, valued at approximately $5,353,893.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,300 shares of company stock worth $1,534,275. 0.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On OneMain

A number of hedge funds have recently modified their holdings of OMF. EdgeRock Capital LLC purchased a new position in shares of OneMain in the second quarter worth $31,000. International Assets Investment Management LLC purchased a new position in shares of OneMain in the second quarter worth $34,000. Blue Trust Inc. lifted its holdings in shares of OneMain by 43.4% in the second quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock worth $38,000 after buying an additional 225 shares in the last quarter. Abich Financial Wealth Management LLC lifted its holdings in shares of OneMain by 46.1% in the first quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock worth $49,000 after buying an additional 304 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of OneMain by 557.8% in the first quarter. UMB Bank n.a. now owns 1,342 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,138 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors.

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.