OneMain (NYSE:OMF) Rating Lowered to Equal Weight at Barclays

Barclays cut shares of OneMain (NYSE:OMF) from an overweight rating to an equal weight rating in a report issued on Tuesday, MarketBeat Ratings reports. They currently have $46.00 price target on the financial services provider’s stock, down from their previous price target of $52.00.

A number of other brokerages have also issued reports on OMF. JPMorgan Chase & Co. decreased their price target on OneMain from $56.00 to $51.00 and set an overweight rating for the company in a research note on Monday, October 7th. Northland Securities raised their target price on OneMain from $53.00 to $55.00 and gave the company a market perform rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft dropped their price target 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. Royal Bank of Canada restated an outperform rating and set a $60.00 price objective on shares of OneMain in a research report on Tuesday, September 17th. Finally, JMP Securities reiterated a market outperform rating and issued a $60.00 target price on shares of OneMain in a report on Tuesday, September 24th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $54.33.

OneMain Stock Performance

Shares of OMF opened at $46.18 on Tuesday. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth ratio of 0.87 and a beta of 1.56. The stock’s fifty day moving average is $46.68 and its 200-day moving average is $48.49. OneMain has a one year low of $35.00 and a one year high of $54.94.

OneMain (NYSE:OMF) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.12. The company had revenue of $1.22 billion for 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 period in the previous year, the firm earned $1.01 EPS. Analysts forecast that OneMain will post 4.91 EPS for the current fiscal year.

OneMain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were given a $1.04 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $4.16 annualized dividend and a dividend yield of 9.01%. OneMain’s dividend payout ratio (DPR) is presently 85.42%.

Insider Buying and Selling

In other OneMain news, SVP Michael A. Hedlund sold 2,400 shares of the business’s stock in a transaction on Monday, September 16th. The shares were 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 of the company’s stock, valued at $1,184,362. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Micah R. Conrad sold 1,614 shares of the business’s 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 transaction, the chief operating officer now directly owns 110,411 shares of the company’s stock, valued at approximately $5,520,550. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael A. Hedlund sold 2,400 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $46.00, for a total transaction of $110,400.00. Following the completion of the transaction, the senior vice president now owns 25,747 shares in the company, valued at approximately $1,184,362. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,300 shares of company stock valued at $1,534,275. Company insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On OneMain

A number of institutional investors have recently modified their holdings of the stock. EdgeRock Capital LLC purchased a new stake in shares of OneMain during the second quarter worth $31,000. International Assets Investment Management LLC acquired a new stake in shares of OneMain during the 2nd quarter valued at about $34,000. Blue Trust Inc. lifted its holdings in shares of OneMain by 43.4% during the 2nd quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock valued at $38,000 after buying an additional 225 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake in shares of OneMain by 46.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock valued at $49,000 after buying an additional 304 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in OneMain by 557.8% in the first quarter. UMB Bank n.a. now owns 1,342 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,138 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.