OneMain’s (OMF) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of OneMain (NYSE:OMF) in a report published on Thursday,Benzinga reports. The brokerage currently has a $62.00 target price on the financial services provider’s stock.

OMF has been the subject of several other research reports. Barclays lowered 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 research report on Tuesday, October 8th. JPMorgan Chase & Co. lowered their target price on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company raised their price target on shares of OneMain from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Stephens began coverage on shares of OneMain in a research report on Wednesday, November 13th. They set an “overweight” rating and a $62.00 price objective for the company. Finally, StockNews.com cut shares of OneMain from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, OneMain presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.31.

OneMain Stock Performance

Shares of OneMain stock opened at $54.73 on Thursday. OneMain has a 1 year low of $41.70 and a 1 year high of $57.97. The firm’s 50-day simple moving average is $54.46 and its 200-day simple moving average is $50.31. The firm has a market cap of $6.53 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 0.44 and a beta of 1.58.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.04 per share. The ex-dividend date was Tuesday, November 12th. This represents a $4.16 dividend on an annualized basis and a yield of 7.60%. OneMain’s dividend payout ratio (DPR) is presently 91.03%.

Insider Transactions at OneMain

In related news, CEO Douglas H. Shulman sold 20,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total value of $1,083,800.00. Following the completion of the transaction, the chief executive officer now owns 392,474 shares in the company, valued at $21,268,166.06. This represents a 4.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Micah R. Conrad sold 2,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total transaction of $130,000.00. Following the sale, the chief operating officer now owns 102,239 shares in the company, valued at $5,316,428. This trade represents a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,492 shares of company stock valued at $1,582,384. 0.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OneMain

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMF. Commonwealth Equity Services LLC lifted its holdings in shares of OneMain by 13.4% in the second quarter. Commonwealth Equity Services LLC now owns 11,608 shares of the financial services provider’s stock valued at $563,000 after buying an additional 1,374 shares during the period. Victory Capital Management Inc. lifted its stake in OneMain by 6.9% during the second quarter. Victory Capital Management Inc. now owns 37,999 shares of the financial services provider’s stock valued at $1,843,000 after purchasing an additional 2,446 shares during the last quarter. Choreo LLC acquired a new position in OneMain in the second quarter worth approximately $246,000. Envestnet Asset Management Inc. increased its holdings in shares of OneMain by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 93,670 shares of the financial services provider’s stock valued at $4,542,000 after buying an additional 1,299 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of OneMain by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,288,643 shares of the financial services provider’s stock valued at $159,465,000 after acquiring an additional 270,207 shares during the last quarter. 85.82% of the stock is owned by institutional investors.

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.