OneMain (NYSE:OMF) Shares Gap Down – Here’s What Happened

OneMain Holdings, Inc. (NYSE:OMF)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $70.88, but opened at $68.58. OneMain shares last traded at $67.22, with a volume of 153,082 shares.

Analyst Ratings Changes

OMF has been the subject of a number of recent analyst reports. Evercore ISI set a $75.00 target price on OneMain in a research note on Tuesday, January 6th. JMP Securities set a $68.00 price target on OneMain in a research note on Monday, November 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of OneMain in a research note on Monday, December 29th. Truist Financial started coverage on shares of OneMain in a report on Monday, December 8th. They set a “buy” rating and a $75.00 price objective for the company. Finally, TD Cowen upped their target price on shares of OneMain from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.30.

OneMain Price Performance

The stock has a market cap of $7.84 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 0.39 and a beta of 1.33. The stock’s 50 day simple moving average is $64.63 and its two-hundred day simple moving average is $60.43.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.32. The business had revenue of $747.00 million for the quarter, compared to analyst estimates of $1.24 billion. OneMain had a net margin of 13.15% and a return on equity of 22.70%. During the same period last year, the business posted $1.31 earnings per share. As a group, analysts forecast that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were paid a $1.05 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $4.20 annualized dividend and a dividend yield of 6.3%. This is a positive change from OneMain’s previous quarterly dividend of $1.04. OneMain’s dividend payout ratio (DPR) is 71.19%.

Insider Transactions at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $59.20, for a total transaction of $296,000.00. Following the completion of the transaction, the chief operating officer directly owned 88,221 shares in the company, valued at approximately $5,222,683.20. This trade represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael A. Hedlund sold 652 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $62.00, for a total value of $40,424.00. Following the completion of the sale, the senior vice president owned 15,179 shares in the company, valued at $941,098. The trade was a 4.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 98,152 shares of company stock valued at $6,353,899 over the last three months. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Pallas Capital Advisors LLC acquired a new position in shares of OneMain in the second quarter valued at about $350,000. Empowered Funds LLC grew its position in OneMain by 30.2% in the second quarter. Empowered Funds LLC now owns 60,125 shares of the financial services provider’s stock valued at $3,427,000 after acquiring an additional 13,963 shares during the last quarter. Thrivent Financial for Lutherans grew its position in OneMain by 5.6% in the second quarter. Thrivent Financial for Lutherans now owns 321,007 shares of the financial services provider’s stock valued at $18,297,000 after acquiring an additional 16,975 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in OneMain by 24.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 209,282 shares of the financial services provider’s stock worth $11,680,000 after acquiring an additional 41,670 shares in the last quarter. Finally, Norges Bank bought a new position in shares of OneMain in the second quarter worth about $85,541,000. Institutional investors own 85.82% of the company’s stock.

OneMain Company Profile

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.