OneMain’s (OMF) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of OneMain (NYSE:OMF) in a report issued on Tuesday morning, Benzinga reports. JMP Securities currently has a $60.00 price objective on the financial services provider’s stock.

Several other equities analysts have also commented on OMF. BTIG Research assumed coverage on shares of OneMain in a research report on Friday, June 7th. They issued a neutral rating for the company. Northland Securities increased their price objective on shares of OneMain from $53.00 to $55.00 and gave the company a market perform rating in a research report on Thursday, August 1st. Barclays reduced their price target on shares of OneMain from $55.00 to $52.00 and set an overweight rating for the company in a research report on Tuesday, July 9th. 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. Finally, Royal Bank of Canada reissued an outperform rating and set a $60.00 price target on shares of OneMain in a research report on Tuesday, September 17th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $55.25.

OneMain Stock Performance

NYSE:OMF opened at $46.49 on Tuesday. The stock has a market capitalization of $5.57 billion, a P/E ratio of 9.06, a P/E/G ratio of 0.81 and a beta of 1.56. The company’s 50-day simple moving average is $47.78 and its 200-day simple moving average is $48.72. OneMain has a fifty-two week low of $35.00 and a fifty-two week high of $54.94.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, beating the consensus estimate of $0.90 by $0.12. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.63%. During the same period last year, the firm posted $1.01 EPS. On average, research analysts forecast that OneMain will post 5.11 EPS for the current year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 8.95%. The ex-dividend date was Monday, August 12th. OneMain’s dividend payout ratio (DPR) is 81.09%.

Insider Activity

In other news, 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 of the company’s stock, valued at approximately $5,520,550. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Micah R. Conrad sold 886 shares of OneMain stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total value of $44,300.00. Following the sale, the chief operating officer now owns 104,739 shares of the company’s stock, valued at approximately $5,236,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Micah R. Conrad sold 1,614 shares of OneMain stock in a transaction 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 sale, the chief operating officer now directly owns 110,411 shares in the company, valued at approximately $5,520,550. The disclosure for this sale can be found here. Insiders sold a total of 32,300 shares of company stock valued at $1,534,275 in the last three months. 0.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OneMain

A number of institutional investors have recently added to or reduced their stakes in OMF. Norges Bank acquired a new stake in OneMain in the 4th quarter valued at $62,732,000. Brave Warrior Advisors LLC grew its stake in OneMain by 21.1% in the 4th quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock valued at $315,707,000 after acquiring an additional 1,118,166 shares during the period. Capital International Investors grew its stake in OneMain by 10.2% in the 1st quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock valued at $488,937,000 after acquiring an additional 889,387 shares during the period. Clearbridge Investments LLC grew its stake in OneMain by 64.8% in the 1st 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. Finally, Principal Financial Group Inc. boosted its stake in OneMain by 7,566.2% during the 2nd quarter. Principal Financial Group Inc. now owns 718,172 shares of the financial services provider’s stock worth $34,824,000 after purchasing an additional 708,804 shares during 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.