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

Royal Bank of Canada reaffirmed their outperform rating on shares of OneMain (NYSE:OMF) in a report issued on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a $60.00 target price on the financial services provider’s stock.

Several other analysts also recently commented on the stock. BTIG Research initiated coverage on shares of OneMain in a research report on Friday, June 7th. They set a neutral rating for the company. 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. JPMorgan Chase & Co. lifted their price target 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. JMP Securities lifted their price target 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, 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. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $55.25.

OneMain Stock Up 3.9 %

Shares of OMF stock opened at $50.15 on Tuesday. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 9.78, 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 firm has a 50 day moving average of $48.24 and a 200-day moving average of $48.76.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, topping the consensus estimate of $0.90 by $0.12. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.63%. During the same quarter last year, the firm posted $1.01 EPS. Analysts anticipate that OneMain will post 5.2 earnings per share for the current year.

OneMain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 8.30%. The ex-dividend date was Monday, August 12th. OneMain’s dividend payout ratio is 81.09%.

Insiders Place Their Bets

In other news, SVP Michael A. Hedlund sold 2,400 shares of OneMain stock in a transaction on Monday, September 16th. The stock was sold at an average price of $46.00, for a total transaction of $110,400.00. Following the sale, the senior vice president now directly owns 25,747 shares in the company, valued at approximately $1,184,362. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Michael A. Hedlund sold 2,400 shares of OneMain stock in a transaction on Monday, September 16th. The stock was sold at an average price of $46.00, for a total transaction of $110,400.00. Following the sale, the senior vice president now directly owns 25,747 shares in the company, valued at approximately $1,184,362. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Micah R. Conrad sold 1,614 shares of OneMain stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $50.00, for a total value of $80,700.00. Following the sale, the chief operating officer now owns 110,411 shares in the company, valued at $5,520,550. The disclosure for this sale can be found here. Insiders have sold 24,014 shares of company stock valued at $1,119,975 in the last three months. 0.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OneMain

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OMF. Norges Bank bought a new stake in OneMain in the 4th quarter valued at about $62,732,000. Brave Warrior Advisors LLC raised 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 raised 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 raised 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. raised its stake in OneMain by 7,566.2% in the 2nd quarter. Principal Financial Group Inc. now owns 718,172 shares of the financial services provider’s stock valued at $34,824,000 after acquiring an additional 708,804 shares during the period. 85.82% of the stock is currently owned by institutional investors.

OneMain Company Profile

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.