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

Shares of OneMain Holdings, Inc. (NYSE:OMF) gapped down prior to trading on Friday . The stock had previously closed at $57.39, but opened at $55.50. OneMain shares last traded at $55.76, with a volume of 203,985 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently commented on OMF. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price objective on shares of OneMain in a research note on Thursday, January 16th. StockNews.com downgraded shares of OneMain from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. decreased their target price on OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Stephens started coverage on OneMain in a report on Wednesday, November 13th. They set an “overweight” rating and a $62.00 target price for the company. Finally, Barclays cut 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 report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.69.

OneMain Stock Performance

The company has a market capitalization of $6.69 billion, a PE ratio of 12.28, a PEG ratio of 0.50 and a beta of 1.58. The company has a 50 day moving average price of $54.82 and a 200 day moving average price of $50.85.

Insider Activity at OneMain

In related news, CEO Douglas H. Shulman sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $54.19, for a total transaction of $1,083,800.00. Following the sale, the chief executive officer now directly owns 392,474 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On OneMain

Institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new stake in OneMain in the third quarter worth $17,016,000. Janus Henderson Group PLC increased its position in OneMain by 69.0% in the third quarter. Janus Henderson Group PLC now owns 772,864 shares of the financial services provider’s stock worth $36,377,000 after buying an additional 315,640 shares during the period. Argent Capital Management LLC increased its position in OneMain by 20.2% in the third quarter. Argent Capital Management LLC now owns 809,176 shares of the financial services provider’s stock worth $38,088,000 after buying an additional 136,224 shares during the period. Basswood Capital Management L.L.C. increased its position in OneMain by 12.3% in the third quarter. Basswood Capital Management L.L.C. now owns 1,030,423 shares of the financial services provider’s stock worth $48,502,000 after buying an additional 113,018 shares during the period. Finally, Principal Financial Group Inc. increased its position in OneMain by 12.1% in the third quarter. Principal Financial Group Inc. now owns 805,256 shares of the financial services provider’s stock worth $37,903,000 after buying an additional 87,084 shares during the period. 85.82% of the stock is owned by institutional investors and hedge funds.

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.