OneMain (NYSE:OMF) Price Target Raised to $57.00

OneMain (NYSE:OMF) had its price target upped by Wells Fargo & Company from $52.00 to $57.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. JMP Securities upped their price target on OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. reduced their price target on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Stephens started coverage on shares of OneMain in a research report on Wednesday, November 13th. They set an “overweight” rating and a $62.00 price objective on the stock. StockNews.com downgraded shares of OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $62.00 price target on shares of OneMain in a report on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.69.

OneMain Stock Performance

Shares of NYSE:OMF opened at $58.03 on Tuesday. OneMain has a 52 week low of $41.70 and a 52 week high of $58.22. The company has a market cap of $6.93 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 0.48 and a beta of 1.58. The firm has a 50 day simple moving average of $54.52 and a 200 day simple moving average of $50.47.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.04 per share. The ex-dividend date was Tuesday, November 12th. This represents a $4.16 annualized dividend and a yield of 7.17%. OneMain’s dividend payout ratio (DPR) is presently 91.03%.

Insider Transactions at OneMain

In other OneMain news, SVP Michael A. Hedlund sold 1,992 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total transaction of $103,584.00. Following the completion of the sale, the senior vice president now directly owns 18,955 shares in the company, valued at $985,660. This represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas H. Shulman sold 20,000 shares of OneMain stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $54.19, for a total value of $1,083,800.00. Following the completion of the transaction, the chief executive officer now owns 392,474 shares in the company, valued at $21,268,166.06. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,492 shares of company stock worth $1,582,384. 0.45% of the stock is owned by insiders.

Institutional Investors Weigh In On OneMain

Several hedge funds have recently modified their holdings of the business. State Street Corp raised its stake in OneMain by 0.8% during the 3rd quarter. State Street Corp now owns 2,140,861 shares of the financial services provider’s stock valued at $100,770,000 after purchasing an additional 16,615 shares during the last quarter. Geode Capital Management LLC raised its position in shares of OneMain by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,139,793 shares of the financial services provider’s stock valued at $100,935,000 after buying an additional 13,978 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of OneMain by 1.3% in the second quarter. Clearbridge Investments LLC now owns 1,914,355 shares of the financial services provider’s stock valued at $92,827,000 after buying an additional 24,338 shares during the period. Charles Schwab Investment Management Inc. grew its position in OneMain by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,412,436 shares of the financial services provider’s stock worth $66,483,000 after buying an additional 30,558 shares in the last quarter. Finally, Basswood Capital Management L.L.C. increased its stake in OneMain by 12.3% during the third quarter. Basswood Capital Management L.L.C. now owns 1,030,423 shares of the financial services provider’s stock valued at $48,502,000 after acquiring an additional 113,018 shares during the period. 85.82% of the stock is owned by institutional investors.

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.