Barclays Downgrades OneMain (NYSE:OMF) to Equal Weight

Barclays lowered shares of OneMain (NYSE:OMF) from an overweight rating to an equal weight rating in a report released on Tuesday morning, Marketbeat reports. Barclays currently has $46.00 price objective on the financial services provider’s stock, down from their previous price objective of $52.00.

Several other research firms have also recently issued reports on OMF. Northland Securities raised their price objective on OneMain from $53.00 to $55.00 and gave the stock a market perform rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their price target on OneMain from $64.00 to $61.00 and set a buy rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. dropped their price objective on shares of OneMain from $56.00 to $51.00 and set an overweight rating for the company in a research note on Monday, October 7th. JMP Securities reissued a market outperform rating and issued a $60.00 target price on shares of OneMain in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $60.00 price target on shares of OneMain in a research report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, OneMain currently has a consensus rating of Moderate Buy and a consensus price target of $54.33.

OneMain Trading Up 1.2 %

Shares of OMF stock opened at $46.18 on Tuesday. OneMain has a twelve month low of $35.00 and a twelve month high of $54.94. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 0.87 and a beta of 1.56. The firm has a 50-day moving average price of $46.68 and a 200 day moving average price of $48.49.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, beating 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 quarter in the previous year, the business posted $1.01 earnings per share. As a group, research analysts predict that OneMain will post 4.91 earnings per share for the current year.

OneMain Dividend Announcement

The business also recently disclosed 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 dividend yield of 9.01%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s dividend payout ratio is presently 85.42%.

Insider Activity

In other OneMain news, CEO Douglas H. Shulman sold 5,000 shares of the company’s 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 transaction, the chief executive officer now owns 417,474 shares in the company, valued at $20,873,700. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Michael A. Hedlund sold 2,400 shares of OneMain stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $46.00, for a total transaction of $110,400.00. Following the sale, the senior vice president now directly owns 25,747 shares of the company’s stock, valued at approximately $1,184,362. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas H. Shulman sold 5,000 shares of the stock in a transaction dated 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 $20,873,700. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,300 shares of company stock worth $1,534,275. 0.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OneMain

Several hedge funds and other institutional investors have recently modified their holdings of OMF. Asio Capital LLC grew its stake in OneMain by 1.7% in the third quarter. Asio Capital LLC now owns 84,479 shares of the financial services provider’s stock worth $3,976,000 after purchasing an additional 1,445 shares in the last quarter. Peak Financial Advisors LLC lifted its stake in OneMain by 7.5% in the third quarter. Peak Financial Advisors LLC now owns 9,278 shares of the financial services provider’s stock valued at $437,000 after buying an additional 648 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of OneMain by 13.9% during the third quarter. UMB Bank n.a. now owns 2,026 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 247 shares during the period. CWM LLC increased its holdings in shares of OneMain by 8.9% in the 3rd quarter. CWM LLC now owns 37,144 shares of the financial services provider’s stock worth $1,748,000 after acquiring an additional 3,033 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in OneMain by 31.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 35,881 shares of the financial services provider’s stock valued at $1,689,000 after purchasing an additional 8,500 shares during 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.