Wells Fargo & Company Increases OneMain (NYSE:OMF) Price Target to $57.00

OneMain (NYSE:OMF - Free Report) had its price objective raised by Wells Fargo & Company from $52.00 to $57.00 in a research note published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider's stock.

Several other equities analysts also recently commented on OMF. JMP Securities increased their target price on shares of OneMain from $60.00 to $62.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 31st. StockNews.com downgraded shares of OneMain from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Compass Point increased their target price on shares of OneMain from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Stephens started coverage on shares of OneMain in a research report on Wednesday, November 13th. They set an "overweight" rating and a $62.00 target price on the stock. Finally, Barclays downgraded shares of OneMain from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $52.00 to $46.00 in a research report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $56.69.

OneMain Stock Performance

Shares of NYSE:OMF traded up $1.01 during midday trading on Tuesday, hitting $55.76. 804,384 shares of the stock were exchanged, compared to its average volume of 828,140. OneMain has a 52-week low of $41.70 and a 52-week high of $57.97. The business's fifty day simple moving average is $54.47 and its two-hundred day simple moving average is $50.43. The company has a market capitalization of $6.65 billion, a PE ratio of 12.20, a P/E/G ratio of 0.48 and a beta of 1.58.

OneMain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 7.46%. The ex-dividend date of this dividend was Tuesday, November 12th. OneMain's dividend payout ratio is currently 91.03%.

Insider Buying and Selling

In other OneMain news, CEO Douglas H. Shulman sold 20,000 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total transaction of $1,083,800.00. Following the completion of the transaction, the chief executive officer now owns 392,474 shares in the company, valued at $21,268,166.06. This trade represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael A. Hedlund sold 1,992 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total transaction of $103,584.00. Following the transaction, the senior vice president now owns 18,955 shares of the company's stock, valued at approximately $985,660. This represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,492 shares of company stock valued at $1,582,384 over the last three months. 0.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new position in shares of OneMain in the third quarter valued at approximately $17,016,000. Janus Henderson Group PLC raised its stake in shares of OneMain by 69.0% in the third quarter. Janus Henderson Group PLC now owns 772,864 shares of the financial services provider's stock valued at $36,377,000 after acquiring an additional 315,640 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in shares of OneMain in the second quarter valued at approximately $6,760,000. Argent Capital Management LLC raised its stake in shares of OneMain by 20.2% in the third quarter. Argent Capital Management LLC now owns 809,176 shares of the financial services provider's stock valued at $38,088,000 after acquiring an additional 136,224 shares during the last quarter. Finally, Basswood Capital Management L.L.C. increased its holdings in shares of OneMain by 12.3% in the third quarter. Basswood Capital Management L.L.C. now owns 1,030,423 shares of the financial services provider's stock valued at $48,502,000 after purchasing an additional 113,018 shares in the last quarter. 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.