OneMain (OMF) Stock Price Up 0.4% After Dividend Announcement

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OneMain Holdings Inc (NYSE:OMF) rose 0.4% on Wednesday after the company announced a dividend. The stock traded as high as $34.60 and last traded at $33.85. Approximately 357,375 shares were traded during trading, a decline of 39% from the average daily volume of 588,592 shares. The stock had previously closed at $33.71.

The newly announced dividend which will be paid on Friday, March 15th. Investors of record on Tuesday, February 26th will be issued a $0.25 dividend. The ex-dividend date is Monday, February 25th.

OMF has been the topic of a number of research analyst reports. Zacks Investment Research upgraded OneMain from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday, December 25th. JPMorgan Chase & Co. upgraded OneMain from an “underweight” rating to a “neutral” rating and reduced their target price for the company from $34.50 to $32.00 in a report on Wednesday, January 16th. ValuEngine cut OneMain from a “sell” rating to a “strong sell” rating in a report on Thursday, December 13th. Barclays set a $34.00 target price on OneMain and gave the company a “hold” rating in a report on Friday, December 14th. Finally, BMO Capital Markets lifted their target price on OneMain from $43.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $37.11.

The company has a market capitalization of $4.08 billion, a P/E ratio of 9.56, a PEG ratio of 0.72 and a beta of 2.55.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Monday, February 11th. The financial services provider reported $1.39 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.06. The company had revenue of $882.00 million for the quarter, compared to analysts’ expectations of $730.46 million. OneMain had a return on equity of 18.65% and a net margin of 8.27%. On average, equities analysts forecast that OneMain Holdings Inc will post 5.01 earnings per share for the current year.

In related news, Director Jay N. Levine acquired 10,000 shares of OneMain stock in a transaction on Tuesday, November 20th. The shares were bought at an average price of $27.65 per share, for a total transaction of $276,500.00. Following the completion of the purchase, the director now directly owns 3,107,296 shares in the company, valued at approximately $85,916,734.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 43.93% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of OneMain by 1.3% during the third quarter. Vanguard Group Inc. now owns 6,508,786 shares of the financial services provider’s stock worth $218,760,000 after purchasing an additional 86,411 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of OneMain by 1.3% during the third quarter. Vanguard Group Inc now owns 6,508,786 shares of the financial services provider’s stock worth $218,760,000 after purchasing an additional 86,411 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of OneMain by 14.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,450,176 shares of the financial services provider’s stock worth $83,806,000 after purchasing an additional 423,499 shares in the last quarter. BlackRock Inc. lifted its stake in shares of OneMain by 7.7% during the third quarter. BlackRock Inc. now owns 3,415,729 shares of the financial services provider’s stock worth $114,801,000 after purchasing an additional 245,159 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of OneMain by 48.0% during the third quarter. Clearbridge Investments LLC now owns 2,058,533 shares of the financial services provider’s stock worth $69,187,000 after purchasing an additional 667,296 shares in the last quarter. Institutional investors own 91.65% of the company’s stock.

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About OneMain (NYSE:OMF)

OneMain Holdings, Inc, through its subsidiaries, provides consumer finance and insurance products and services. The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing. It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.

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