OneMain (NYSE:OMF) Stock Rating Reaffirmed by JMP Securities

JMP Securities restated their market outperform rating on shares of OneMain (NYSE:OMF) in a research note published on Monday morning, Benzinga reports. The firm currently has a $60.00 price objective on the financial services provider’s stock.

Several other research analysts have also commented on OMF. Royal Bank of Canada cut their price target on shares of OneMain from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their price target on shares of OneMain from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Barclays lowered shares of OneMain from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $52.00 to $46.00 in a report on Tuesday, October 8th. StockNews.com lowered shares of OneMain from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Northland Securities raised their price target on shares of OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.00.

OneMain Price Performance

Shares of OMF stock opened at $48.03 on Monday. The firm has a market cap of $5.75 billion, a P/E ratio of 9.36, a PEG ratio of 0.87 and a beta of 1.56. OneMain has a 1-year low of $35.00 and a 1-year high of $54.94. The firm’s 50-day simple moving average is $46.75 and its 200-day simple moving average is $48.41.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.12. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.63%. During the same period in the prior year, the firm posted $1.01 EPS. Analysts expect that OneMain will post 4.91 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.66%. The ex-dividend date was Monday, August 12th. OneMain’s payout ratio is currently 81.09%.

Insider Transactions at OneMain

In other 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 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 approximately $1,184,362. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other OneMain news, CEO Douglas H. Shulman sold 15,000 shares of OneMain stock in a transaction 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 owns 422,474 shares of the company’s stock, valued at $19,560,546.20. The trade was 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 link. Also, SVP Michael A. Hedlund sold 2,400 shares of OneMain stock in a transaction on Monday, September 16th. The stock was sold at an average price of $46.00, for a total transaction of $110,400.00. Following the completion of the transaction, the senior vice president now directly owns 25,747 shares of the company’s stock, valued at approximately $1,184,362. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,300 shares of company stock valued at $1,534,275. 0.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OneMain

Hedge funds have recently added to or reduced their stakes in the business. EdgeRock Capital LLC acquired a new position in OneMain in the second quarter worth $31,000. International Assets Investment Management LLC acquired a new position in OneMain in the second quarter worth $34,000. Blue Trust Inc. boosted its holdings in 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 purchasing an additional 225 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in 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 purchasing an additional 304 shares during the period. Finally, UMB Bank n.a. boosted its holdings in OneMain by 32.6% in the second quarter. UMB Bank n.a. now owns 1,779 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 437 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

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.