Analysts Set OneMain Holdings, Inc. (NYSE:OMF) PT at $68.40

Shares of OneMain Holdings, Inc. (NYSE:OMF) have received a consensus rating of “Moderate Buy” from the twelve research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $68.40.

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of OneMain in a research note on Friday, July 10th. TD Cowen upped their price target on OneMain from $66.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Evercore set a $66.00 price objective on OneMain in a research note on Monday, July 6th. Barclays cut their target price on OneMain from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of OneMain in a report on Tuesday, July 7th.

OneMain Price Performance

NYSE OMF opened at $63.10 on Tuesday. OneMain has a 12 month low of $45.78 and a 12 month high of $71.93. The firm has a market capitalization of $7.26 billion, a PE ratio of 9.50, a P/E/G ratio of 0.48 and a beta of 1.22. The company’s 50 day simple moving average is $62.51 and its 200 day simple moving average is $58.03.

OneMain (NYSE:OMF) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.05. OneMain had a return on equity of 23.49% and a net margin of 13.92%.The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the business posted $1.45 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts anticipate that OneMain will post 7.11 earnings per share for the current fiscal year.

OneMain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 6.7%. The ex-dividend date was Monday, August 10th. OneMain’s payout ratio is presently 63.25%.

Insider Transactions at OneMain

In other OneMain news, SVP Michael 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 value of $160,000.00. Following the completion of the transaction, the senior vice president directly owned 10,627 shares in the company, valued at $680,128. This trade represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah Conrad sold 5,000 shares of OneMain stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total transaction of $327,000.00. Following the completion of the transaction, the chief operating officer directly owned 91,250 shares in the company, valued at approximately $5,967,750. This trade represents a 5.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,348 shares of company stock valued at $911,576 over the last ninety days. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On OneMain

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OMF. Cidel Asset Management Inc. acquired a new stake in OneMain during the 2nd quarter valued at $213,000. Integrated Wealth Concepts LLC boosted its position in shares of OneMain by 49.4% in the second quarter. Integrated Wealth Concepts LLC now owns 22,710 shares of the financial services provider’s stock worth $1,385,000 after buying an additional 7,512 shares during the period. NewEdge Advisors LLC boosted its position in shares of OneMain by 55.4% in the second quarter. NewEdge Advisors LLC now owns 13,959 shares of the financial services provider’s stock worth $851,000 after buying an additional 4,974 shares during the period. IFP Advisors Inc grew its holdings in shares of OneMain by 102.0% during the second quarter. IFP Advisors Inc now owns 3,935 shares of the financial services provider’s stock valued at $240,000 after buying an additional 1,987 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of OneMain by 4.7% during the second quarter. Squarepoint Ops LLC now owns 204,499 shares of the financial services provider’s stock valued at $12,468,000 after buying an additional 9,179 shares in the last quarter. Institutional investors and hedge funds 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.