OneMain (NYSE:OMF) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of OneMain (NYSE:OMF) from a buy rating to a hold rating in a research note issued to investors on Friday.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price target on shares of OneMain from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Wells Fargo & Company assumed coverage on OneMain in a research note on Monday, August 25th. They issued an “equal weight” rating on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of OneMain in a report on Wednesday. JMP Securities set a $68.00 price target on shares of OneMain in a research report on Monday. Finally, Citigroup reaffirmed a “market outperform” rating on shares of OneMain in a report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.63.

OneMain Stock Performance

OneMain stock opened at $62.03 on Friday. OneMain has a fifty-two week low of $38.00 and a fifty-two week high of $63.24. The stock has a market cap of $7.30 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 0.45 and a beta of 1.37. The firm’s 50-day simple moving average is $57.83 and its 200 day simple moving average is $57.12.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.58 by $0.32. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The firm had revenue of $747.00 million during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the business posted $1.31 EPS. As a group, analysts predict that OneMain will post 6.46 EPS for the current fiscal year.

OneMain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 6.8%. This is a boost from OneMain’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Monday, November 10th. OneMain’s dividend payout ratio is presently 71.19%.

Insider Activity

In related news, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $59.54, for a total transaction of $2,083,900.00. Following the completion of the transaction, the chief executive officer directly owned 231,600 shares of the company’s stock, valued at approximately $13,789,464. This represents a 13.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $59.20, for a total transaction of $296,000.00. Following the completion of the sale, the chief operating officer owned 88,221 shares in the company, valued at $5,222,683.20. This represents a 5.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.40% of the company’s stock.

Institutional Trading of OneMain

Several hedge funds and other institutional investors have recently bought and sold shares of OMF. Root Financial Partners LLC purchased a new position in shares of OneMain during the third quarter valued at approximately $26,000. Activest Wealth Management boosted its position in OneMain by 1,102.1% during the 3rd quarter. Activest Wealth Management now owns 577 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 529 shares in the last quarter. SVB Wealth LLC purchased a new position in OneMain in the first quarter valued at about $34,000. Bayforest Capital Ltd raised its stake in shares of OneMain by 591.8% during the 3rd quarter. Bayforest Capital Ltd now owns 671 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 574 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of OneMain by 57.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 718 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 262 shares in the last quarter. Hedge funds and other 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.