OneMain’s (OMF) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of OneMain (NYSE:OMF) in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a $60.00 price target on the financial services provider’s stock.

OMF has been the topic of a number of other reports. Barclays reduced their price objective on shares of OneMain from $55.00 to $52.00 and set an overweight rating on the stock in a report on Tuesday, July 9th. Northland Securities raised their price objective on shares of OneMain from $53.00 to $55.00 and gave the company a market perform rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of OneMain from $64.00 to $61.00 and set a buy rating on the stock in a research report on Tuesday, July 9th. JMP Securities increased their target price on shares of OneMain from $59.00 to $60.00 and gave the company a market outperform rating in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of OneMain from $52.00 to $54.00 and gave the company an overweight rating in a research report on Monday, July 8th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, OneMain presently has an average rating of Moderate Buy and a consensus target price of $55.25.

OneMain Stock Up 3.3 %

OneMain stock opened at $48.56 on Tuesday. The firm has a market cap of $5.82 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 0.72 and a beta of 1.56. OneMain has a 52-week low of $35.00 and a 52-week high of $54.94. The company’s 50 day moving average is $48.17 and its two-hundred day moving average is $48.75.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.12. OneMain had a net margin of 12.33% and a return on equity of 20.63%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $918.74 million. During the same period last year, the business earned $1.01 EPS. On average, equities research analysts anticipate that OneMain will post 5.2 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 8.57%. The ex-dividend date was Monday, August 12th. OneMain’s payout ratio is currently 81.09%.

Insiders Place Their Bets

In other OneMain news, CEO Douglas H. Shulman sold 15,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $46.30, for a total transaction of $694,500.00. Following the transaction, the chief executive officer now directly owns 422,474 shares of the company’s stock, valued at approximately $19,560,546.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Douglas H. Shulman sold 15,000 shares of OneMain stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $46.30, for a total value of $694,500.00. Following the sale, the chief executive officer now owns 422,474 shares of the company’s stock, valued at $19,560,546.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 2,500 shares of OneMain stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total transaction of $114,375.00. Following the completion of the sale, the chief operating officer now directly owns 117,025 shares in the company, valued at approximately $5,353,893.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,614 shares of company stock valued at $1,009,575. Insiders own 0.45% of the company’s stock.

Institutional Trading of OneMain

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in shares of OneMain by 6.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 200 shares in the last quarter. Blue Trust Inc. lifted 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 purchasing an additional 225 shares during the period. US Bancorp DE lifted its stake in shares of OneMain by 1.8% in the first quarter. US Bancorp DE now owns 14,040 shares of the financial services provider’s stock valued at $717,000 after purchasing an additional 245 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of OneMain by 21.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,405 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 251 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of OneMain by 27.4% in the second quarter. Abich Financial Wealth Management LLC now owns 1,227 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 264 shares during the period. Hedge funds and other institutional investors 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.