OneMain (NYSE:OMF) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of OneMain (NYSE:OMF) in a report issued on Tuesday morning, Benzinga reports. The firm currently has a $60.00 target price on the financial services provider’s stock.

A number of other brokerages also recently weighed in on OMF. BTIG Research started coverage on shares of OneMain in a research note on Friday, June 7th. They issued a neutral rating for the company. Northland Securities boosted their target price on shares of OneMain from $53.00 to $55.00 and gave the stock a market perform rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of OneMain from $64.00 to $61.00 and set a buy rating for the company in a research note on Tuesday, July 9th. Barclays dropped their target price on shares of OneMain from $55.00 to $52.00 and set an overweight rating for the company in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of OneMain from $52.00 to $54.00 and gave the stock an overweight rating in a research note on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $55.25.

OneMain Price Performance

Shares of NYSE:OMF opened at $49.08 on Tuesday. The business’s fifty day moving average price is $48.23 and its two-hundred day moving average price is $48.77. OneMain has a fifty-two week low of $35.00 and a fifty-two week high of $54.94. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 0.72 and a beta of 1.56.

OneMain (NYSE:OMF) last announced its quarterly earnings results 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 return on equity of 20.63% and a net margin of 12.33%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $918.74 million. During the same period in the prior year, the business posted $1.01 earnings per share. Research analysts expect that OneMain will post 5.2 EPS 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 $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 8.48%. The ex-dividend date was Monday, August 12th. OneMain’s payout ratio is presently 81.09%.

Insider Buying and Selling at OneMain

In other OneMain news, COO Micah R. Conrad sold 2,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 117,025 shares of the company’s stock, valued at $5,353,893.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other OneMain news, COO Micah R. Conrad sold 2,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 117,025 shares of the company’s stock, valued at $5,353,893.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael A. Hedlund sold 2,400 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $46.00, for a total transaction of $110,400.00. Following the completion of the sale, the senior vice president now directly owns 25,747 shares of the company’s stock, valued at approximately $1,184,362. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,300 shares of company stock valued at $1,534,275. Corporate insiders own 0.45% of the company’s stock.

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 holdings in shares of OneMain by 3.1% in the first quarter. Vanguard Group Inc. now owns 12,317,755 shares of the financial services provider’s stock valued at $629,314,000 after buying an additional 373,900 shares during the period. Capital International Investors boosted its holdings in shares of OneMain by 10.2% in the first quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock valued at $488,937,000 after buying an additional 889,387 shares during the period. Brave Warrior Advisors LLC boosted its holdings in shares of OneMain by 21.1% in the fourth quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock valued at $315,707,000 after buying an additional 1,118,166 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of OneMain by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,288,643 shares of the financial services provider’s stock valued at $159,465,000 after buying an additional 270,207 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of OneMain by 1.3% in the second quarter. Clearbridge Investments LLC now owns 1,914,355 shares of the financial services provider’s stock valued at $92,827,000 after buying an additional 24,338 shares during the period. Institutional investors and hedge funds 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.