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

Royal Bank of Canada reaffirmed their outperform rating on shares of OneMain (NYSE:OMF) in a research note published on Thursday morning,Benzinga reports. They currently have a $62.00 price objective on the financial services provider’s stock.

OMF has been the subject of several other research reports. Compass Point raised their price target on shares of OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered their target price on OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday. Barclays lowered OneMain from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $52.00 to $46.00 in a report on Tuesday, October 8th. StockNews.com lowered shares of OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Stephens initiated coverage on shares of OneMain in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $62.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.31.

OneMain Price Performance

NYSE OMF opened at $54.74 on Thursday. The business’s fifty day moving average is $54.46 and its 200-day moving average is $50.26. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.44 and a beta of 1.58. OneMain has a one year low of $41.70 and a one year high of $57.97.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 7.60%. The ex-dividend date was Tuesday, November 12th. OneMain’s dividend payout ratio is 91.03%.

Insiders Place Their Bets

In related news, COO Micah R. Conrad sold 2,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total value of $130,000.00. Following the completion of the transaction, the chief operating officer now directly owns 102,239 shares in the company, valued at approximately $5,316,428. The trade was a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Hedlund sold 1,992 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total value of $103,584.00. Following the sale, the senior vice president now owns 18,955 shares in the company, valued at $985,660. The trade was a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,492 shares of company stock worth $1,582,384 in the last ninety days. 0.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OneMain

Hedge funds have recently made changes to their positions in the business. Legend Financial Advisors Inc. purchased a new position in shares of OneMain in the fourth quarter worth about $26,000. FNY Investment Advisers LLC purchased a new stake in shares of OneMain in the 4th quarter worth about $26,000. Continuum Advisory LLC bought a new stake in OneMain during the 3rd quarter valued at approximately $28,000. Blue Trust Inc. boosted its position in shares of OneMain by 64.1% during the third quarter. Blue Trust Inc. now owns 1,219 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 476 shares in the last quarter. Finally, Abich Financial Wealth Management LLC grew its position in shares of OneMain by 27.4% in 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.

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.