OneMain (NYSE:OMF) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of OneMain (NYSE:OMF) in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a $58.00 price objective on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company decreased their price objective on OneMain from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of OneMain from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Barclays cut shares of OneMain from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $52.00 to $46.00 in a research note on Tuesday, October 8th. JMP Securities reissued a “market outperform” rating and set a $60.00 price target on shares of OneMain in a report on Monday. Finally, StockNews.com cut shares of OneMain from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, OneMain presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

OneMain Trading Up 2.9 %

Shares of NYSE:OMF opened at $48.03 on Wednesday. OneMain has a twelve month low of $35.00 and a twelve month high of $54.94. The company has a market cap of $5.75 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 0.87 and a beta of 1.56. The company’s 50 day moving average is $46.75 and its 200 day moving average is $48.41.

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

OneMain Dividend Announcement

The company also recently declared 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. This represents a $4.16 annualized dividend and a dividend yield of 8.66%. The ex-dividend date was Monday, August 12th. OneMain’s payout ratio is 81.09%.

Insider Activity at OneMain

In other news, SVP Michael A. Hedlund sold 2,400 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $46.00, for a total transaction of $110,400.00. Following the completion of the sale, the senior vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other OneMain news, SVP Michael A. Hedlund sold 2,400 shares of the firm’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 transaction, the senior vice president now directly owns 25,747 shares of the company’s stock, valued at $1,184,362. This trade represents a 0.00 % decrease in their position. 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 shares were sold at an average price of $45.75, for a total value of $114,375.00. Following the completion of the sale, the chief operating officer now owns 117,025 shares of the company’s stock, valued at $5,353,893.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,300 shares of company stock valued at $1,534,275. 0.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in OneMain by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 11,943,855 shares of the financial services provider’s stock worth $587,638,000 after purchasing an additional 125,032 shares during the period. PNC Financial Services Group Inc. raised its position in shares of OneMain by 6.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the financial services provider’s stock valued at $171,000 after buying an additional 200 shares during the period. Quadrature Capital Ltd lifted its holdings in OneMain by 8.7% in the fourth quarter. Quadrature Capital Ltd now owns 31,800 shares of the financial services provider’s stock valued at $1,566,000 after acquiring an additional 2,533 shares during the last quarter. Alaska Permanent Fund Corp grew its position in OneMain by 1.1% in the first quarter. Alaska Permanent Fund Corp now owns 54,831 shares of the financial services provider’s stock worth $2,801,000 after acquiring an additional 609 shares during the period. Finally, Fulton Bank N.A. increased its stake in OneMain by 5.2% during the first quarter. Fulton Bank N.A. now owns 6,707 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 329 shares during the last quarter. Hedge funds and other 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.