OneMain (NYSE:OMF) Now Covered by Evercore ISI

Evercore ISI initiated coverage on shares of OneMain (NYSE:OMF) in a research note published on Tuesday morning, Marketbeat reports. The brokerage issued an in-line rating and a $58.00 price target on the financial services provider’s stock.

Several other research analysts have also recently issued reports on OMF. JPMorgan Chase & Co. cut their target price on OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Stephens reaffirmed an “overweight” rating and set a $62.00 price objective on shares of OneMain in a report on Monday, February 3rd. StockNews.com upgraded shares of OneMain from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of OneMain from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $65.00 price objective on shares of OneMain in a research note on Monday, February 3rd. Six investment 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 has an average rating of “Moderate Buy” and a consensus price target of $59.17.

OneMain Price Performance

Shares of OneMain stock opened at $51.57 on Tuesday. The stock’s 50-day moving average is $53.48 and its 200 day moving average is $51.91. OneMain has a one year low of $41.70 and a one year high of $58.90. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.44 and a beta of 1.62.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 8.07%. The ex-dividend date of this dividend was Wednesday, February 12th. OneMain’s payout ratio is currently 98.11%.

Insider Activity at OneMain

In other news, SVP Michael A. Hedlund sold 2,808 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $56.09, for a total value of $157,500.72. Following the completion of the sale, the senior vice president now directly owns 15,831 shares of the company’s stock, valued at $887,960.79. This represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OneMain

Several institutional investors and hedge funds have recently modified their holdings of OMF. Charles Schwab Investment Management Inc. grew its holdings in shares of OneMain by 2.2% in the third 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 in the last quarter. Cerity Partners LLC lifted its position in OneMain by 23.6% during the third quarter. Cerity Partners LLC now owns 41,863 shares of the financial services provider’s stock valued at $1,970,000 after purchasing an additional 7,989 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of OneMain in the 3rd quarter worth $1,424,000. Independent Advisor Alliance raised its position in shares of OneMain by 6.4% during the 3rd quarter. Independent Advisor Alliance now owns 11,158 shares of the financial services provider’s stock valued at $525,000 after buying an additional 669 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of OneMain during the 3rd quarter valued at about $2,565,000. Institutional investors own 85.82% of the company’s stock.

OneMain Company Profile

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.