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

Royal Bank of Canada restated their outperform rating on shares of OneMain (NYSE:OMF - Free Report) in a research report released on Wednesday, Benzinga reports. They currently have a $58.00 target price on the financial services provider's stock.

OMF has been the subject of several other research reports. StockNews.com downgraded shares of OneMain from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on OneMain from $64.00 to $61.00 and set a "buy" rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. reduced their target price on OneMain from $56.00 to $51.00 and set an "overweight" rating on the stock in a report on Monday, October 7th. Northland Securities lifted their target price on OneMain from $53.00 to $55.00 and gave the stock a "market perform" rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company dropped their price target on OneMain from $53.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, OneMain currently has a consensus rating of "Moderate Buy" and an average target price of $54.00.

OneMain Stock Performance

Shares of NYSE OMF traded up $1.35 during midday trading on Wednesday, reaching $48.03. 1,028,070 shares of the company's stock were exchanged, compared to its average volume of 990,656. OneMain has a 52-week low of $35.00 and a 52-week high of $54.94. The business's fifty day moving average price is $46.75 and its two-hundred day moving average price is $48.41. The stock has a market capitalization of $5.75 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 0.87 and a beta of 1.56.

OneMain (NYSE:OMF - Get Free Report) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.12. OneMain had a return on equity of 20.63% and a net margin of 12.33%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $918.74 million. During the same period in the prior year, the company posted $1.01 EPS. Analysts predict that OneMain will post 4.91 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 8.66%. The ex-dividend date was Monday, August 12th. OneMain's payout ratio is 81.09%.

Insider Buying and Selling at OneMain

In other news, CEO Douglas H. Shulman sold 15,000 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $46.30, for a total transaction of $694,500.00. Following the completion of the transaction, the chief executive officer now directly owns 422,474 shares in the company, valued at approximately $19,560,546.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Micah R. Conrad sold 2,500 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Douglas H. Shulman sold 15,000 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $46.30, for a total transaction of $694,500.00. Following the sale, the chief executive officer now owns 422,474 shares in the company, 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. Over the last 90 days, insiders have sold 32,300 shares of company stock worth $1,534,275. 0.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in OneMain by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 11,943,855 shares of the financial services provider's stock valued at $587,638,000 after purchasing an additional 125,032 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in OneMain by 6.1% during 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 buying an additional 200 shares in the last quarter. Quadrature Capital Ltd grew its holdings in OneMain by 8.7% during the fourth quarter. Quadrature Capital Ltd now owns 31,800 shares of the financial services provider's stock worth $1,566,000 after acquiring an additional 2,533 shares during the period. Alaska Permanent Fund Corp raised its position in OneMain by 1.1% in the first quarter. Alaska Permanent Fund Corp now owns 54,831 shares of the financial services provider's stock worth $2,801,000 after acquiring an additional 609 shares in the last quarter. Finally, Fulton Bank N.A. lifted its holdings in OneMain by 5.2% in the 1st 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. 85.82% of the stock is currently owned by institutional investors.

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.