Citizens Jmp Cuts OneMain (NYSE:OMF) Price Target to $68.00

OneMain (NYSE:OMF) had its price objective reduced by Citizens Jmp from $70.00 to $68.00 in a research note released on Monday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the financial services provider’s stock.

OMF has been the subject of a number of other reports. Wells Fargo & Company assumed coverage on OneMain in a report on Monday, August 25th. They set an “equal weight” rating for the company. JMP Securities set a $68.00 price target on shares of OneMain in a research report on Monday. Wall Street Zen upgraded shares of OneMain from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Royal Bank Of Canada upped their target price on shares of OneMain from $68.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Finally, Citigroup reissued a “market outperform” rating on shares of OneMain in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.63.

OneMain Stock Performance

NYSE:OMF opened at $61.88 on Monday. OneMain has a fifty-two week low of $38.00 and a fifty-two week high of $63.24. The company has a 50 day moving average price of $57.80 and a 200 day moving average price of $57.01. The stock has a market capitalization of $7.29 billion, a P/E ratio of 11.17, a PEG ratio of 0.45 and a beta of 1.37.

OneMain (NYSE:OMF) last announced its earnings results on Friday, October 31st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.32. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The company had revenue of $747.00 million for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the company earned $1.31 earnings per share. Research analysts forecast that OneMain will post 6.46 earnings per share for the current fiscal year.

OneMain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 10th were paid a $1.05 dividend. This is an increase from OneMain’s previous quarterly dividend of $1.04. This represents a $4.20 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date was Monday, November 10th. OneMain’s payout ratio is presently 71.19%.

Insider Buying and Selling

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $59.20, for a total value of $296,000.00. Following the sale, the chief operating officer directly owned 88,221 shares of the company’s stock, valued at approximately $5,222,683.20. This represents a 5.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Douglas H. Shulman sold 35,000 shares of OneMain stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $59.54, for a total transaction of $2,083,900.00. Following the sale, the chief executive officer directly owned 231,600 shares of the company’s stock, valued at approximately $13,789,464. This trade represents a 13.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in OneMain by 2.1% in the third quarter. Vanguard Group Inc. now owns 11,970,406 shares of the financial services provider’s stock valued at $675,849,000 after purchasing an additional 249,785 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of OneMain during the 2nd quarter worth approximately $611,102,000. Capital International Investors boosted its holdings in shares of OneMain by 0.8% in the 3rd quarter. Capital International Investors now owns 10,376,590 shares of the financial services provider’s stock valued at $585,868,000 after buying an additional 82,202 shares in the last quarter. Brave Warrior Advisors LLC grew its position in shares of OneMain by 7.2% in the 2nd 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 last quarter. Finally, Dimensional Fund Advisors LP raised its stake in OneMain by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,980,031 shares of the financial services provider’s stock worth $224,723,000 after acquiring an additional 63,774 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

About OneMain

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.