OneMain (NYSE:OMF) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of OneMain (NYSE:OMF) from a buy rating to a hold rating in a research report report published on Sunday.

Several other equities research analysts have also issued reports on the company. Royal Bank Of Canada raised their price objective on OneMain from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. restated an “underweight” rating and set a $65.00 price target (up previously from $59.00) on shares of OneMain in a report on Monday, January 12th. Evercore ISI set a $75.00 price target on OneMain in a research report on Tuesday, January 6th. TD Cowen boosted their price objective on shares of OneMain from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Truist Financial started coverage on shares of OneMain in a research note on Monday, December 8th. They issued a “buy” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $71.30.

OneMain Stock Down 3.0%

OMF stock opened at $63.42 on Friday. OneMain has a 52 week low of $38.00 and a 52 week high of $71.93. The firm has a market capitalization of $7.47 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 0.36 and a beta of 1.33. The company has a fifty day simple moving average of $65.36 and a two-hundred day simple moving average of $60.79.

OneMain (NYSE:OMF) last posted its earnings results on Friday, October 31st. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.32. The firm had revenue of $747.00 million for the quarter, compared to the consensus estimate of $1.24 billion. OneMain had a net margin of 13.15% and a return on equity of 22.70%. During the same period in the previous year, the firm posted $1.31 EPS. As a group, analysts anticipate that OneMain will post 6.46 EPS for the current year.

OneMain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 10th were paid a dividend of $1.05 per share. This is a boost from OneMain’s previous quarterly dividend of $1.04. This represents a $4.20 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend was Monday, November 10th. OneMain’s payout ratio is presently 71.19%.

Insider Buying and Selling

In other OneMain news, SVP Michael A. Hedlund sold 652 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $62.00, for a total value of $40,424.00. Following the completion of the sale, the senior vice president directly owned 15,179 shares in the company, valued at approximately $941,098. This represents a 4.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas H. Shulman sold 57,500 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $68.41, for a total value of $3,933,575.00. Following the transaction, the chief executive officer directly owned 174,100 shares in the company, valued at $11,910,181. The trade was a 24.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 98,152 shares of company stock valued at $6,353,899 over the last quarter. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of OneMain

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in OneMain during the 2nd quarter worth about $85,541,000. Certuity LLC lifted its position in shares of OneMain by 107.6% in the 3rd quarter. Certuity LLC now owns 1,930,792 shares of the financial services provider’s stock worth $109,013,000 after purchasing an additional 1,000,654 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of OneMain by 57.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,965,244 shares of the financial services provider’s stock valued at $110,958,000 after purchasing an additional 713,670 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of OneMain by 254.2% during the third quarter. Qube Research & Technologies Ltd now owns 741,752 shares of the financial services provider’s stock valued at $41,879,000 after purchasing an additional 532,324 shares in the last quarter. Finally, Brave Warrior Advisors LLC increased its holdings in OneMain by 7.2% during the second quarter. Brave Warrior Advisors LLC now owns 7,870,085 shares of the financial services provider’s stock valued at $448,595,000 after buying an additional 526,449 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.

OneMain Company Profile

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.