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

Royal Bank of Canada reaffirmed their outperform rating on shares of OneMain (NYSE:OMF) in a research report report published on Tuesday, Benzinga reports. The firm currently has a $60.00 price objective on the financial services provider’s stock.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of OneMain from $52.00 to $54.00 and gave the stock an overweight rating in a research report on Monday, July 8th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of OneMain from $64.00 to $61.00 and set a buy rating on the stock in a research report on Tuesday, July 9th. Northland Securities upped their price target on shares of OneMain from $53.00 to $55.00 and gave the stock a market perform rating in a research report on Thursday, August 1st. Barclays dropped their price target on shares of OneMain from $55.00 to $52.00 and set an overweight rating on the stock in a research report on Tuesday, July 9th. Finally, BTIG Research began coverage on shares of OneMain in a research report on Friday, June 7th. They set a neutral rating on the stock. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $55.25.

OneMain Trading Down 2.1 %

Shares of OMF opened at $49.08 on Tuesday. OneMain has a 12 month low of $35.00 and a 12 month high of $54.94. The firm has a fifty day simple moving average of $48.23 and a 200 day simple moving average of $48.77. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 0.72 and a beta of 1.56.

OneMain (NYSE:OMF) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $1.02 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 business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $918.74 million. During the same quarter in the prior year, the company posted $1.01 earnings per share. As a group, research analysts predict that OneMain will post 5.2 earnings per share for the current fiscal year.

OneMain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 8.48%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s payout ratio is presently 81.09%.

Insider Activity

In related news, CEO Douglas H. Shulman sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $46.30, for a total transaction of $694,500.00. Following the transaction, the chief executive officer now directly owns 422,474 shares of the company’s stock, valued at $19,560,546.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Douglas H. Shulman sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $46.30, for a total transaction of $694,500.00. Following the transaction, the chief executive officer now directly owns 422,474 shares of the company’s stock, valued at $19,560,546.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Micah R. Conrad sold 886 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $44,300.00. Following the transaction, the chief operating officer now directly owns 104,739 shares in the company, valued at $5,236,950. The disclosure for this sale can be found here. Insiders have sold 32,300 shares of company stock valued at $1,534,275 over the last ninety days. 0.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OneMain

A number of hedge funds have recently bought and sold shares of OMF. Norges Bank bought a new position in OneMain during the fourth quarter worth about $62,732,000. Brave Warrior Advisors LLC grew its stake in OneMain by 21.1% during the fourth quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock worth $315,707,000 after buying an additional 1,118,166 shares in the last quarter. Capital International Investors grew its stake in OneMain by 10.2% during the first quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock worth $488,937,000 after buying an additional 889,387 shares in the last quarter. Clearbridge Investments LLC grew its stake in OneMain by 64.8% during the first quarter. Clearbridge Investments LLC now owns 1,890,017 shares of the financial services provider’s stock worth $96,561,000 after buying an additional 743,034 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in OneMain by 7,566.2% during the second quarter. Principal Financial Group Inc. now owns 718,172 shares of the financial services provider’s stock worth $34,824,000 after buying an additional 708,804 shares in 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.