OneMain’s (OMF) “Outperform” Rating Reiterated at Royal Bank of Canada

OneMain (NYSE:OMF)‘s stock had its “outperform” rating reaffirmed by stock analysts at Royal Bank of Canada in a research note issued on Thursday,Benzinga reports. They currently have a $62.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 13.80% from the stock’s current price.

A number of other research analysts have also recently issued reports on OMF. JPMorgan Chase & Co. decreased their price objective on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday. Wells Fargo & Company upped their price objective on OneMain from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Compass Point boosted their target price on OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com cut shares of OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, JMP Securities increased their price objective on shares of OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.31.

OneMain Stock Up 1.9 %

OMF opened at $54.48 on Thursday. OneMain has a twelve month low of $41.70 and a twelve month high of $57.97. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 0.44 and a beta of 1.58. The company has a 50-day simple moving average of $54.45 and a 200 day simple moving average of $50.23.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OMF. Arkadios Wealth Advisors boosted its holdings in shares of OneMain by 9.8% during the 4th quarter. Arkadios Wealth Advisors now owns 4,927 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 439 shares during the last quarter. Argent Capital Management LLC lifted its holdings in OneMain by 2.3% during the fourth quarter. Argent Capital Management LLC now owns 827,710 shares of the financial services provider’s stock valued at $43,149,000 after purchasing an additional 18,534 shares in the last quarter. Burney Co. lifted its position in shares of OneMain by 11.0% in the fourth quarter. Burney Co. now owns 29,456 shares of the financial services provider’s stock valued at $1,536,000 after acquiring an additional 2,927 shares in the last quarter. Peak Financial Advisors LLC lifted its holdings in OneMain by 3.3% in the 4th quarter. Peak Financial Advisors LLC now owns 9,588 shares of the financial services provider’s stock worth $500,000 after purchasing an additional 310 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in OneMain by 11.5% during the 4th quarter. Park Avenue Securities LLC now owns 8,784 shares of the financial services provider’s stock valued at $458,000 after buying an additional 904 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.