Royal Bank of Canada Reiterates “Outperform” Rating for OneMain (NYSE:OMF)

OneMain (NYSE:OMF)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a report released on Thursday,Benzinga reports. They currently have a $62.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 13.28% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. JMP Securities raised their price target on shares of OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Barclays lowered OneMain from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $52.00 to $46.00 in a research note on Tuesday, October 8th. StockNews.com lowered OneMain from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their target price on OneMain from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Compass Point raised their price target on shares of OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, OneMain currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.31.

OneMain Stock Performance

Shares of OMF stock opened at $54.73 on Thursday. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.44 and a beta of 1.58. The stock’s 50-day simple moving average is $54.46 and its 200-day simple moving average is $50.30. OneMain has a fifty-two week low of $41.70 and a fifty-two week high of $57.97.

Insider Activity at OneMain

In related news, COO Micah R. Conrad sold 2,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total value of $130,000.00. Following the completion of the sale, the chief operating officer now owns 102,239 shares of the company’s stock, valued at approximately $5,316,428. The trade was a 2.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael A. Hedlund sold 1,992 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total transaction of $103,584.00. Following the transaction, the senior vice president now directly owns 18,955 shares in the company, valued at approximately $985,660. The trade was a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,492 shares of company stock worth $1,582,384 in the last 90 days. Corporate insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On OneMain

Several large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new stake in shares of OneMain in the third quarter worth approximately $17,016,000. Janus Henderson Group PLC boosted its stake in OneMain by 69.0% during the 3rd quarter. Janus Henderson Group PLC now owns 772,864 shares of the financial services provider’s stock worth $36,377,000 after purchasing an additional 315,640 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of OneMain by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,288,643 shares of the financial services provider’s stock worth $159,465,000 after buying an additional 270,207 shares in the last quarter. Lodge Hill Capital LLC acquired a new stake in shares of OneMain in the second quarter valued at about $6,789,000. Finally, Magnolia Capital Advisors LLC purchased a new position in shares of OneMain in the second quarter worth about $6,760,000. 85.82% of the stock is currently owned by hedge funds and other 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.