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 research note issued to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

Several other research firms have also recently commented on OMF. StockNews.com cut OneMain from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Stephens initiated coverage on shares of OneMain in a research report on Wednesday, November 13th. They set an “overweight” rating and a $62.00 target price on the stock. Compass Point increased their price target on shares of OneMain from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays lowered shares of OneMain from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $52.00 to $46.00 in a research report on Tuesday, October 8th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.69.

OneMain Stock Up 1.8 %

NYSE OMF opened at $55.76 on Tuesday. The stock has a market capitalization of $6.65 billion, a P/E ratio of 12.20, a P/E/G ratio of 0.48 and a beta of 1.58. OneMain has a 52-week low of $41.70 and a 52-week high of $57.97. The firm has a 50-day moving average price of $54.47 and a 200 day moving average price of $50.43.

OneMain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 7.46%. The ex-dividend date of this dividend was Tuesday, November 12th. OneMain’s payout ratio is 91.03%.

Insider Buying and Selling at OneMain

In other news, CEO Douglas H. Shulman sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total transaction of $1,083,800.00. Following the completion of the transaction, the chief executive officer now owns 392,474 shares of the company’s stock, valued at $21,268,166.06. This represents a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael A. Hedlund sold 1,992 shares of the firm’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 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,492 shares of company stock worth $1,582,384. Corporate insiders own 0.45% of the company’s stock.

Institutional Trading of OneMain

Institutional investors and hedge funds have recently made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new stake in OneMain during the fourth quarter valued at about $26,000. FNY Investment Advisers LLC acquired a new position in shares of OneMain in the 4th quarter valued at about $26,000. Albion Financial Group UT purchased a new stake in shares of OneMain during the 4th quarter worth about $26,000. Continuum Advisory LLC purchased a new position in OneMain in the third quarter valued at approximately $28,000. Finally, Blue Trust Inc. lifted its position in OneMain by 64.1% during the third quarter. Blue Trust Inc. now owns 1,219 shares of the financial services provider’s stock valued at $59,000 after buying an additional 476 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

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.