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 Sunday.

Other analysts have also issued research reports about the stock. Truist Financial began coverage on shares of OneMain in a report on Monday, December 8th. They set a “buy” rating and a $75.00 price objective for the company. Royal Bank Of Canada lifted their price objective on OneMain from $68.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. TD Cowen increased their target price on OneMain from $72.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Barclays lifted their price target on OneMain from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Finally, JMP Securities set a $68.00 price objective on shares of OneMain in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.30.

OneMain Price Performance

OneMain stock opened at $65.50 on Friday. The firm has a market capitalization of $7.71 billion, a P/E ratio of 11.10, a P/E/G ratio of 0.36 and a beta of 1.33. The stock has a fifty day moving average price of $65.17 and a two-hundred day moving average price of $60.72. OneMain has a 52-week low of $38.00 and a 52-week high of $71.93.

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 the consensus estimate of $1.58 by $0.32. OneMain had a net margin of 13.15% and a return on equity of 22.70%. The business had revenue of $747.00 million for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. On average, equities research analysts predict that OneMain will post 6.46 EPS for the current fiscal year.

OneMain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were issued a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $4.20 annualized dividend and a yield of 6.4%. This is an increase from OneMain’s previous quarterly dividend of $1.04. OneMain’s dividend payout ratio (DPR) is presently 71.19%.

Insider Buying and Selling at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $59.20, for a total value of $296,000.00. Following the transaction, the chief operating officer owned 88,221 shares of the company’s stock, valued at approximately $5,222,683.20. This trade represents a 5.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas H. Shulman sold 57,500 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $68.41, for a total transaction of $3,933,575.00. Following the sale, the chief executive officer directly owned 174,100 shares of the company’s stock, valued at approximately $11,910,181. This trade represents a 24.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 98,152 shares of company stock worth $6,353,899. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OMF. Geneos Wealth Management Inc. grew its stake in shares of OneMain by 9.1% during the second quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 176 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in OneMain by 3.9% during the third quarter. Prime Capital Investment Advisors LLC now owns 4,710 shares of the financial services provider’s stock worth $266,000 after buying an additional 177 shares during the last quarter. KLP Kapitalforvaltning AS grew its position in shares of OneMain by 0.8% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 24,800 shares of the financial services provider’s stock worth $1,400,000 after buying an additional 200 shares during the period. Central Pacific Bank Trust Division increased its stake in shares of OneMain by 2.5% in the 3rd quarter. Central Pacific Bank Trust Division now owns 8,284 shares of the financial services provider’s stock valued at $468,000 after acquiring an additional 205 shares during the last quarter. Finally, Forum Financial Management LP raised its position in shares of OneMain by 4.6% in the 2nd quarter. Forum Financial Management LP now owns 4,749 shares of the financial services provider’s stock valued at $271,000 after acquiring an additional 209 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

About OneMain

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.