OneMain (NYSE:OMF) Trading Up 7.4% Following Dividend Announcement

by · The Markets Daily

OneMain Holdings, Inc. (NYSE:OMF – Get Free Report)’s share price was up 7.4% on Wednesday following a dividend announcement from the company. The stock traded as high as $51.63 and last traded at $50.99. Approximately 346,857 shares were traded during trading, a decline of 65% from the average daily volume of 983,246 shares. The stock had previously closed at $47.48.

The newly announced dividend which will be paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $4.16 annualized dividend and a dividend yield of 8.37%. OneMain’s payout ratio is 91.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of OneMain in a research note on Wednesday, October 16th. JMP Securities increased their price objective on shares of OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of OneMain from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Barclays cut shares of OneMain from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $52.00 to $46.00 in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. cut their price objective on OneMain from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, OneMain has an average rating of “Moderate Buy” and an average price target of $55.08.

Read Our Latest Research Report on OneMain

OneMain Stock Down 4.3 %

The firm has a market cap of $5.95 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 0.98 and a beta of 1.56. The business has a 50 day simple moving average of $47.08 and a two-hundred day simple moving average of $48.32.

OneMain (NYSE:OMF – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.12. OneMain had a net margin of 11.27% and a return on equity of 19.31%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $918.74 million. During the same period in the previous year, the company earned $1.01 EPS. Equities analysts forecast that OneMain Holdings, Inc. will post 4.91 earnings per share for the current year.

Insiders Place Their Bets

In other OneMain news, COO Micah R. Conrad sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total value of $114,375.00. Following the completion of the transaction, the chief operating officer now directly owns 117,025 shares in the company, valued at approximately $5,353,893.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Micah R. Conrad sold 2,500 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $45.75, for a total transaction of $114,375.00. Following the completion of the sale, the chief operating officer now owns 117,025 shares in the company, valued at approximately $5,353,893.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Micah R. Conrad sold 886 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $50.00, for a total value of $44,300.00. Following the transaction, the chief operating officer now directly owns 104,739 shares in the company, valued at $5,236,950. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,300 shares of company stock worth $1,534,275. 0.45% of the stock is currently owned by company insiders.

Institutional Trading of OneMain

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in OneMain by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 12,317,755 shares of the financial services provider’s stock worth $629,314,000 after buying an additional 373,900 shares during the last quarter. Capital International Investors grew its holdings in OneMain by 10.2% in the 1st quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock valued at $488,937,000 after buying an additional 889,387 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 worth $159,465,000 after acquiring an additional 270,207 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of OneMain by 1.3% during the 2nd quarter. Clearbridge Investments LLC now owns 1,914,355 shares of the financial services provider’s stock valued at $92,827,000 after acquiring an additional 24,338 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of OneMain by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 1,169,590 shares of the financial services provider’s stock valued at $56,713,000 after purchasing an additional 12,938 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

About OneMain

(Get Free Report)

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.

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