OneMain Holdings, Inc. (NYSE:OMF) Receives $68.40 Average PT from Brokerages

OneMain Holdings, Inc. (NYSE:OMF) has been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $68.40.

OMF has been the topic of several recent research reports. Royal Bank Of Canada upped their price target on OneMain from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Citigroup reaffirmed a “market outperform” rating on shares of OneMain in a research report on Thursday, July 30th. Barclays lowered their price objective on OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 7th. Evercore set a $66.00 target price on OneMain in a report on Monday, July 6th. Finally, Citizens Jmp increased their target price on OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th.

OneMain Price Performance

NYSE:OMF opened at $61.99 on Tuesday. OneMain has a one year low of $45.78 and a one year high of $71.93. The company’s 50-day simple moving average is $62.38 and its 200 day simple moving average is $57.92. The firm has a market capitalization of $7.13 billion, a P/E ratio of 9.34, a PEG ratio of 0.48 and a beta of 1.22.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.05. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the company earned $1.45 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts expect that OneMain will post 7.11 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were paid a $1.05 dividend. The ex-dividend date was Monday, August 10th. This represents a $4.20 dividend on an annualized basis and a yield of 6.8%. OneMain’s payout ratio is presently 63.25%.

Insider Transactions at OneMain

In other OneMain news, SVP Michael A. Hedlund sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total transaction of $160,000.00. Following the completion of the sale, the senior vice president directly owned 10,627 shares in the company, valued at approximately $680,128. This trade represents a 19.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $62.00, for a total transaction of $310,000.00. Following the completion of the transaction, the chief operating officer directly owned 96,250 shares of the company’s stock, valued at $5,967,500. This trade represents a 4.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 14,348 shares of company stock worth $911,576. 0.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OMF. Kendall Capital Management purchased a new position in shares of OneMain in the 2nd quarter worth $1,483,000. Bank of New York Mellon Corp purchased a new stake in OneMain during the second quarter valued at $63,980,000. The Manufacturers Life Insurance Company increased its position in OneMain by 73.8% during the first quarter. The Manufacturers Life Insurance Company now owns 37,962 shares of the financial services provider’s stock valued at $2,031,000 after acquiring an additional 16,117 shares during the last quarter. Bank of America Corp DE lifted its holdings in OneMain by 117.8% in the first quarter. Bank of America Corp DE now owns 843,912 shares of the financial services provider’s stock valued at $45,141,000 after acquiring an additional 456,470 shares during the period. Finally, BlackRock Inc. bought a new position in OneMain in the second quarter valued at about $633,893,000. Institutional investors own 85.82% of the company’s stock.

About OneMain

OneMain Holdings, Inc (NYSE: OMF) is a consumer finance company that provides personal lending and related financial products to consumers in the United States. Its primary business operates under the OneMain Financial brand and focuses on serving individuals who may not be fully served by traditional banks.

OneMain offers unsecured and secured personal loans, including loans used for debt consolidation, home improvements, major purchases and other personal expenses. The company also provides optional insurance and debt-cancellation products, as well as credit-related services designed to complement its lending business.