OneMain (NYSE:OMF) Earns Overweight Rating from Analysts at Stephens

Stephens began coverage on shares of OneMain (NYSE:OMF) in a report released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $62.00 price objective on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. dropped their price target on OneMain from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Northland Securities increased their price target on OneMain from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. JMP Securities increased their price objective on OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. StockNews.com downgraded OneMain from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 price objective on shares of OneMain in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, OneMain has an average rating of “Moderate Buy” and a consensus price target of $55.46.

OneMain Price Performance

OMF stock traded up $0.72 during trading on Wednesday, reaching $55.49. 991,176 shares of the stock traded hands, compared to its average volume of 1,019,010. OneMain has a 52-week low of $37.78 and a 52-week high of $56.28. The business’s 50 day moving average price is $48.27 and its 200-day moving average price is $48.66. The firm has a market capitalization of $6.62 billion, a PE ratio of 12.14, a P/E/G ratio of 0.67 and a beta of 1.54.

OneMain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Tuesday, November 12th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $4.16 annualized dividend and a dividend yield of 7.50%. OneMain’s dividend payout ratio (DPR) is presently 91.03%.

Insider Buying and Selling

In related news, COO Micah R. Conrad sold 2,500 shares of OneMain stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $48.00, for a total transaction of $120,000.00. Following the completion of the sale, the chief operating officer now directly owns 112,025 shares of the company’s stock, valued at $5,377,200. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas H. Shulman sold 20,000 shares of OneMain stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $54.19, for a total value of $1,083,800.00. Following 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 trade represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,292 shares of company stock worth $2,307,784 in the last 90 days. 0.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On OneMain

A number of institutional investors have recently made changes to their positions in OMF. Clearbridge Investments LLC grew its stake in OneMain by 64.8% in the first quarter. Clearbridge Investments LLC now owns 1,890,017 shares of the financial services provider’s stock valued at $96,561,000 after acquiring an additional 743,034 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of OneMain in the second quarter valued at about $608,000. Swedbank AB bought a new stake in shares of OneMain in the first quarter valued at about $817,000. Argent Capital Management LLC lifted its holdings in shares of OneMain by 33.6% in the second quarter. Argent Capital Management LLC now owns 672,952 shares of the financial services provider’s stock valued at $32,631,000 after purchasing an additional 169,339 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of OneMain by 13.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 271 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

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.