Royal Bank of Canada Reaffirms Outperform Rating for OneMain (NYSE:OMF)

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

Other research analysts have also recently issued reports about the company. JMP Securities raised their target price on OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Barclays downgraded shares of OneMain from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $52.00 to $46.00 in a report on Tuesday, October 8th. Wells Fargo & Company upped their target price on shares of OneMain from $49.00 to $52.00 and gave the company an “equal weight” 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 note on Tuesday, November 5th. Finally, Compass Point increased their target price on OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, OneMain currently has an average rating of “Moderate Buy” and an average price target of $56.31.

OneMain Stock Performance

NYSE:OMF opened at $54.48 on Thursday. OneMain has a 52-week low of $41.70 and a 52-week high of $57.97. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.44 and a beta of 1.58. The firm’s 50-day moving average is $54.45 and its 200-day moving average is $50.23.

Insider Buying and Selling at OneMain

In related news, CEO Douglas H. Shulman sold 5,000 shares of OneMain stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $53.00, for a total transaction of $265,000.00. Following the completion of the sale, the chief executive officer now owns 412,474 shares of the company’s stock, valued at approximately $21,861,122. The trade was a 1.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael A. Hedlund sold 1,992 shares of the 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 transaction, the senior vice president now directly owns 18,955 shares in the company, valued at approximately $985,660. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,492 shares of company stock valued at $1,582,384 in the last 90 days. 0.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OneMain

Several institutional investors and hedge funds have recently made changes to their positions in OMF. Dimensional Fund Advisors LP boosted its stake in OneMain by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,288,643 shares of the financial services provider’s stock valued at $159,465,000 after purchasing an additional 270,207 shares during the period. State Street Corp grew its stake in shares of OneMain by 0.8% in the third quarter. State Street Corp now owns 2,140,861 shares of the financial services provider’s stock valued at $100,770,000 after acquiring an additional 16,615 shares in the last quarter. Geode Capital Management LLC increased its position in 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 worth $100,935,000 after acquiring an additional 13,978 shares during the period. Clearbridge Investments LLC raised its stake in OneMain by 1.3% in the 2nd quarter. Clearbridge Investments LLC now owns 1,914,355 shares of the financial services provider’s stock worth $92,827,000 after purchasing an additional 24,338 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in OneMain by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,412,436 shares of the financial services provider’s stock valued at $66,483,000 after purchasing an additional 30,558 shares during the period. Institutional investors and hedge funds 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.