OneMain (NYSE:OMF) Stock Price Down 10.1% – What’s Next?

OneMain Holdings, Inc. (NYSE:OMF)’s stock price was down 10.1% during mid-day trading on Monday . The company traded as low as $47.57 and last traded at $46.8250. Approximately 2,630,839 shares traded hands during mid-day trading, an increase of 70% from the average daily volume of 1,549,233 shares. The stock had previously closed at $52.06.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OMF shares. Wall Street Zen cut OneMain from a “buy” rating to a “hold” rating in a research report on Sunday, January 18th. Stephens lowered their price objective on OneMain to $76.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. JPMorgan Chase & Co. dropped their price objective on shares of OneMain from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Friday, February 6th. TD Cowen reiterated a “buy” rating on shares of OneMain in a research report on Thursday, January 8th. Finally, Barclays set a $71.00 price target on shares of OneMain in a research report on Friday, February 6th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.89.

OneMain Stock Down 1.1%

The company has a fifty day moving average price of $60.15 and a 200 day moving average price of $60.84. The stock has a market cap of $5.84 billion, a PE ratio of 7.59, a P/E/G ratio of 0.36 and a beta of 1.34.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.04. OneMain had a return on equity of 23.76% and a net margin of 14.35%.The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $1.16 EPS. As a group, research analysts predict that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Tuesday, February 17th were given a $1.05 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 8.4%. OneMain’s payout ratio is presently 63.93%.

Insider Transactions at OneMain

In related news, CEO Douglas H. Shulman sold 57,500 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $68.41, for a total value of $3,933,575.00. Following the sale, the chief executive officer directly owned 174,100 shares of the company’s stock, valued at $11,910,181. This trade represents a 24.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $58.00, for a total value of $290,000.00. Following the transaction, the chief operating officer owned 106,250 shares in the company, valued at approximately $6,162,500. This represents a 4.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On OneMain

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC boosted its holdings in OneMain by 117.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 202 shares in the last quarter. Root Financial Partners LLC bought a new position in OneMain in the 3rd quarter worth $26,000. Core Wealth Advisors LLC purchased a new stake in shares of OneMain in the 4th quarter worth about $31,000. Activest Wealth Management boosted its stake in shares of OneMain by 1,102.1% during the 3rd quarter. Activest Wealth Management now owns 577 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 529 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of OneMain during the fourth quarter valued at about $36,000. Institutional investors own 85.82% of the company’s stock.

About OneMain

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.