OneMain (NYSE:OMF) Given “Outperform” Rating at Royal Bank of Canada

OneMain (NYSE:OMF)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a research note issued on Wednesday, Benzinga reports. They currently have a $58.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 21.87% from the company’s previous close.

Several other research firms have also recently issued reports on OMF. JMP Securities reiterated a “market outperform” rating and set a $60.00 target price on shares of OneMain in a research report on Monday. Barclays downgraded shares of OneMain from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $52.00 to $46.00 in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of OneMain from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. decreased their target price on shares of OneMain from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Finally, Wells Fargo & Company dropped their price target on OneMain from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Monday. Seven investment 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, OneMain presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

OneMain Price Performance

Shares of OMF stock traded up $0.91 during trading hours on Wednesday, reaching $47.59. 28,847 shares of the company traded hands, compared to its average volume of 985,661. The firm has a 50-day moving average price of $46.72 and a 200 day moving average price of $48.44. The company has a market cap of $5.70 billion, a P/E ratio of 9.25, a P/E/G ratio of 0.87 and a beta of 1.56. OneMain has a 12-month low of $35.00 and a 12-month high of $54.94.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $918.74 million. During the same period in the prior year, the business posted $1.01 earnings per share. Sell-side analysts predict that OneMain will post 4.91 EPS for the current year.

Insider Activity

In related news, COO Micah R. Conrad sold 2,500 shares of the company’s 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 transaction, the chief operating officer now owns 117,025 shares in the company, valued at $5,353,893.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other OneMain news, COO Micah R. Conrad sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total value of $114,375.00. Following the transaction, the chief operating officer now directly owns 117,025 shares of the company’s stock, valued at $5,353,893.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas H. Shulman sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $46.30, for a total value of $694,500.00. Following the completion of the sale, the chief executive officer now owns 422,474 shares of the company’s stock, valued at $19,560,546.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,300 shares of company stock worth $1,534,275 over the last 90 days. 0.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OneMain

A number of hedge funds have recently modified their holdings of OMF. Vanguard Group Inc. raised its stake in OneMain by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 11,943,855 shares of the financial services provider’s stock worth $587,638,000 after purchasing an additional 125,032 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of OneMain by 6.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the financial services provider’s stock worth $171,000 after buying an additional 200 shares during the last quarter. Quadrature Capital Ltd increased its holdings in shares of OneMain by 8.7% during the 4th quarter. Quadrature Capital Ltd now owns 31,800 shares of the financial services provider’s stock worth $1,566,000 after buying an additional 2,533 shares during the last quarter. Alaska Permanent Fund Corp raised its position in shares of OneMain by 1.1% during the 1st quarter. Alaska Permanent Fund Corp now owns 54,831 shares of the financial services provider’s stock valued at $2,801,000 after buying an additional 609 shares during the period. Finally, Fulton Bank N.A. lifted its holdings in OneMain by 5.2% in the first quarter. Fulton Bank N.A. now owns 6,707 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

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.