OneMain (NYSE:OMF) Shares Gap Down – Here’s Why

Shares of OneMain Holdings, Inc. (NYSE:OMF) gapped down prior to trading on Monday . The stock had previously closed at $70.88, but opened at $68.58. OneMain shares last traded at $67.22, with a volume of 153,082 shares traded.

Analyst Ratings Changes

A number of research firms have recently issued reports on OMF. Truist Financial initiated coverage on OneMain in a research report on Monday, December 8th. They set a “buy” rating and a $75.00 price objective on the stock. Wall Street Zen upgraded shares of OneMain from a “hold” rating to a “buy” rating in a research note on Saturday. JMP Securities set a $68.00 price objective on shares of OneMain in a report on Monday, November 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research report on Monday, December 29th. Finally, Citigroup reissued a “market outperform” rating on shares of OneMain in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.30.

OneMain Stock Performance

The stock has a market cap of $7.84 billion, a P/E ratio of 11.29, a P/E/G ratio of 0.39 and a beta of 1.33. The company has a 50-day simple moving average of $64.63 and a 200-day simple moving average of $60.43.

OneMain (NYSE:OMF) last announced its earnings results on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.58 by $0.32. OneMain had a return on equity of 22.70% and a net margin of 13.15%.The company had revenue of $747.00 million for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. As a group, sell-side analysts expect that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 6.3%. The ex-dividend date was Monday, November 10th. This is a boost from OneMain’s previous quarterly dividend of $1.04. OneMain’s dividend payout ratio is 71.19%.

Insider Transactions at OneMain

In other OneMain news, SVP Michael A. Hedlund sold 652 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $62.00, for a total transaction of $40,424.00. Following the transaction, the senior vice president owned 15,179 shares of the company’s stock, valued at approximately $941,098. This represents a 4.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas H. Shulman sold 57,500 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $68.41, for a total value of $3,933,575.00. Following the completion of the transaction, the chief executive officer owned 174,100 shares in the company, valued at $11,910,181. The trade was a 24.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 98,152 shares of company stock worth $6,353,899. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On OneMain

Several hedge funds have recently added to or reduced their stakes in OMF. Kingstone Capital Partners Texas LLC bought a new stake in OneMain during the 2nd quarter worth about $611,102,000. Norges Bank bought a new stake in shares of OneMain during the second quarter worth approximately $85,541,000. Certuity LLC boosted its stake in OneMain by 107.6% in the third quarter. Certuity LLC now owns 1,930,792 shares of the financial services provider’s stock valued at $109,013,000 after acquiring an additional 1,000,654 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in OneMain by 57.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,965,244 shares of the financial services provider’s stock worth $110,958,000 after acquiring an additional 713,670 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in OneMain by 254.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 741,752 shares of the financial services provider’s stock worth $41,879,000 after acquiring an additional 532,324 shares during the period. Institutional investors own 85.82% of the company’s stock.

OneMain Company Profile

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.