StockNews.com cut shares of OneMain (NYSE:OMF – Free Report) from a buy rating to a hold rating in a report issued on Thursday morning.
Other equities research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of OneMain from $64.00 to $61.00 and set a buy rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. dropped their price objective on OneMain from $56.00 to $51.00 and set an overweight rating on the stock in a report on Monday. Royal Bank of Canada reduced their price target on OneMain from $60.00 to $58.00 and set an outperform rating for the company in a research report on Thursday. Barclays downgraded shares of OneMain from an overweight rating to an equal weight rating and decreased their price objective for the stock from $52.00 to $46.00 in a report on Tuesday. Finally, JMP Securities reaffirmed a market outperform rating and issued a $60.00 target price on shares of OneMain in a report on Tuesday, September 24th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $54.33.
Get Our Latest Stock Analysis on OneMain
OneMain Price Performance
OneMain (NYSE:OMF – Get Free Report) last released its earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.12. OneMain had a return on equity of 20.63% and a net margin of 12.33%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $918.74 million. During the same period in the prior year, the firm posted $1.01 earnings per share. On average, equities analysts anticipate that OneMain will post 4.91 earnings per share for the current year.
OneMain Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were given a $1.04 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $4.16 dividend on an annualized basis and a yield of 8.94%. OneMain’s payout ratio is 85.42%.
Insider Buying and Selling at OneMain
In other OneMain news, COO Micah R. Conrad sold 1,614 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $50.00, for a total value of $80,700.00. Following the transaction, the chief operating officer now directly owns 110,411 shares of the company’s stock, valued at approximately $5,520,550. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Michael A. Hedlund sold 2,400 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 $120,000.00. Following the sale, the senior vice president now owns 20,947 shares of the company’s stock, valued at $1,047,350. This trade represents 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 hyperlink. Also, COO Micah R. Conrad sold 1,614 shares of OneMain stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $50.00, for a total transaction of $80,700.00. Following the completion of the transaction, the chief operating officer now directly owns 110,411 shares in the company, valued at approximately $5,520,550. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,300 shares of company stock worth $1,534,275. Company insiders own 0.45% of the company’s stock.
Institutional Trading of OneMain
Several hedge funds and other institutional investors have recently modified their holdings of OMF. EdgeRock Capital LLC acquired a new position in shares of OneMain during the 2nd quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new stake in OneMain in the 2nd quarter worth about $34,000. Blue Trust Inc. boosted its stake in shares of OneMain by 43.4% in the second quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock valued at $38,000 after buying an additional 225 shares during the period. Abich Financial Wealth Management LLC lifted its position in shares of OneMain by 46.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 304 shares during the period. Finally, UMB Bank n.a. grew its stake in OneMain by 557.8% during the first quarter. UMB Bank n.a. now owns 1,342 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,138 shares in the last quarter. 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.
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