Stephens Reiterates “Overweight” Rating for OneMain (NYSE:OMF)

Stephens reaffirmed their overweight rating on shares of OneMain (NYSE:OMF) in a report released on Monday morning,Benzinga reports. The brokerage currently has a $62.00 price objective on the financial services provider’s stock.

Other equities analysts also recently issued reports about the company. Barclays downgraded OneMain from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $52.00 to $46.00 in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price objective on shares of OneMain in a report on Thursday, January 16th. Compass Point lifted their price objective 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. Finally, JMP Securities reissued a “market outperform” rating and issued a $65.00 target price on shares of OneMain in a report on Monday. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $57.15.

OneMain Trading Up 3.4 %

NYSE:OMF opened at $56.80 on Monday. OneMain has a 12-month low of $41.70 and a 12-month high of $58.90. The firm has a market cap of $6.78 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.48 and a beta of 1.59. The stock has a fifty day moving average price of $54.69 and a 200 day moving average price of $50.94.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Wednesday, February 12th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 7.32%. The ex-dividend date of this dividend is Wednesday, February 12th. OneMain’s payout ratio is currently 98.11%.

Insider Buying and Selling

In other news, CEO Douglas H. Shulman sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total value of $1,083,800.00. Following the completion of the sale, the chief executive officer now directly owns 392,474 shares of the company’s stock, valued at approximately $21,268,166.06. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OneMain

Several institutional investors have recently added to or reduced their stakes in OMF. Legend Financial Advisors Inc. acquired a new stake in OneMain during the 4th quarter worth approximately $26,000. FNY Investment Advisers LLC purchased a new stake in shares of OneMain during the fourth quarter worth approximately $26,000. Albion Financial Group UT acquired a new stake in shares of OneMain during the fourth quarter worth $26,000. Continuum Advisory LLC purchased a new position in OneMain in the 3rd quarter valued at $28,000. Finally, IFP Advisors Inc increased its stake in OneMain by 180.0% in the 4th quarter. IFP Advisors Inc now owns 770 shares of the financial services provider’s stock valued at $40,000 after buying an additional 495 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.