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 note released on Saturday.

A number of other equities analysts have also commented on OMF. Wells Fargo & Company assumed coverage on OneMain in a research note on Monday, August 25th. They set an “equal weight” rating on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a research note on Wednesday, October 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 price objective (down previously from $63.00) on shares of OneMain in a research note on Tuesday, October 7th. Finally, Barclays raised their price objective on OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.50.

OneMain Trading Up 2.1%

NYSE:OMF opened at $53.23 on Friday. The stock has a market cap of $6.33 billion, a P/E ratio of 9.61, a PEG ratio of 0.42 and a beta of 1.32. The stock has a 50 day simple moving average of $58.68 and a 200 day simple moving average of $54.31. OneMain has a 1-year low of $38.00 and a 1-year high of $63.24.

OneMain (NYSE:OMF) last released its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.20. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm posted $1.02 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that OneMain will post 6.46 EPS for the current year.

OneMain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were given a dividend of $1.04 per share. The ex-dividend date was Monday, August 4th. This represents a $4.16 dividend on an annualized basis and a yield of 7.8%. OneMain’s payout ratio is currently 75.09%.

Insiders Place Their Bets

In related news, CEO Douglas H. Shulman sold 35,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the sale, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. The trade was a 11.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OneMain

A number of hedge funds and other institutional investors have recently bought and sold shares of OMF. Alpine Bank Wealth Management bought a new stake in OneMain during the 1st quarter worth $27,000. SVB Wealth LLC bought a new stake in OneMain during the 1st quarter worth $34,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in OneMain during the 1st quarter worth $42,000. Headlands Technologies LLC bought a new stake in OneMain during the 1st quarter worth $46,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in OneMain by 79.4% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 820 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 363 shares during the last quarter. 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.