OneMain (NYSE:OMF) Stock Rating Reaffirmed by Royal Bank of Canada

OneMain (NYSE:OMF)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research note issued on Wednesday, Benzinga reports. They presently have a $58.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 21.87% from the stock’s current price.

OMF has been the subject of several other reports. JMP Securities reiterated a “market outperform” rating and issued a $60.00 target price on shares of OneMain in a research report on Monday. StockNews.com lowered OneMain from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on shares of OneMain from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Wells Fargo & Company reduced their price objective on shares of OneMain from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Barclays cut shares of OneMain from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $52.00 to $46.00 in a research report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, OneMain currently has an average rating of “Moderate Buy” and an average target price of $54.00.

OneMain Stock Performance

Shares of NYSE OMF traded up $0.91 during mid-day trading on Wednesday, reaching $47.59. The company had a trading volume of 28,847 shares, compared to its average volume of 985,661. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 0.87 and a beta of 1.56. The business’s 50-day simple moving average is $46.72 and its 200 day simple moving average is $48.44. OneMain has a one year low of $35.00 and a one year high of $54.94.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, beating the consensus estimate of $0.90 by $0.12. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.63%. During the same quarter in the prior year, the firm earned $1.01 EPS. On average, sell-side analysts anticipate that OneMain will post 4.91 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On OneMain

A number of large investors have recently added to or reduced their stakes in OMF. Vanguard Group Inc. increased its position in shares of 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 during the last quarter. PNC Financial Services Group Inc. raised its position in OneMain by 6.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 200 shares during the period. Quadrature Capital Ltd boosted its holdings in OneMain by 8.7% during the 4th quarter. Quadrature Capital Ltd now owns 31,800 shares of the financial services provider’s stock valued at $1,566,000 after acquiring an additional 2,533 shares during the period. Alaska Permanent Fund Corp boosted its stake in shares of OneMain by 1.1% during the first quarter. Alaska Permanent Fund Corp now owns 54,831 shares of the financial services provider’s stock valued at $2,801,000 after purchasing an additional 609 shares during the period. Finally, Fulton Bank N.A. increased its stake in shares of OneMain by 5.2% in the first quarter. Fulton Bank N.A. now owns 6,707 shares of the financial services provider’s stock worth $343,000 after buying an additional 329 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

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.