OneMain (NYSE:OMF) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of OneMain (NYSE:OMF) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Several other research analysts have also weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 target price on shares of OneMain in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft cut their price objective 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. JPMorgan Chase & Co. decreased their target price on shares of OneMain from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Barclays downgraded shares of OneMain from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $52.00 to $46.00 in a report on Tuesday, October 8th. Finally, Wells Fargo & Company decreased their price objective on shares of OneMain from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.00.

OneMain Trading Down 2.2 %

Shares of OneMain stock opened at $46.60 on Friday. OneMain has a 1 year low of $35.00 and a 1 year high of $54.94. The company has a market cap of $5.58 billion, a P/E ratio of 9.08, a P/E/G ratio of 0.87 and a beta of 1.56. The stock has a 50-day moving average price of $46.92 and a 200 day moving average price of $48.35.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share (EPS) 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 firm earned $1.01 earnings per share. On average, equities analysts forecast that OneMain will post 4.91 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were paid a dividend of $1.04 per share. The ex-dividend date was Monday, August 12th. This represents a $4.16 annualized dividend and a yield of 8.93%. OneMain’s payout ratio is 81.09%.

Insider Buying and Selling at OneMain

In other news, CEO Douglas H. Shulman sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the sale, the chief executive officer now directly owns 417,474 shares of the company’s stock, valued at approximately $20,873,700. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Michael A. Hedlund sold 2,400 shares of OneMain stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $120,000.00. Following the sale, the senior vice president now directly owns 20,947 shares of the company’s stock, valued at $1,047,350. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas H. Shulman sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the transaction, the chief executive officer now directly owns 417,474 shares of the company’s stock, valued at approximately $20,873,700. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,300 shares of company stock valued at $1,534,275 in the last 90 days. 0.45% of the stock is currently owned by insiders.

Institutional Trading of OneMain

A number of institutional investors and hedge funds have recently modified their holdings of OMF. PNC Financial Services Group Inc. increased its stake in 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 during the period. Blue Trust Inc. boosted its holdings in OneMain by 43.4% during 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 in the last quarter. US Bancorp DE grew its stake in shares of OneMain by 1.8% in the 1st 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. UMB Bank n.a. raised its holdings in shares of OneMain by 13.9% in the 3rd quarter. UMB Bank n.a. now owns 2,026 shares of the financial services provider’s stock worth $95,000 after buying an additional 247 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its position in shares of OneMain by 27.4% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,227 shares of the financial services provider’s stock worth $59,000 after buying an additional 264 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.