OneMain (NYSE:OMF) Price Target Raised to $62.00

OneMain (NYSE:OMF) had its price target boosted by equities research analysts at JMP Securities from $60.00 to $62.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the financial services provider’s stock. JMP Securities’ target price would indicate a potential upside of 24.20% from the stock’s current price.

A number of other analysts also recently commented on the company. Compass Point boosted their target price on OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company cut their price target on OneMain from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on OneMain from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Barclays downgraded shares of OneMain from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $52.00 to $46.00 in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of OneMain from $56.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, OneMain currently has a consensus rating of “Moderate Buy” and an average target price of $54.85.

OneMain Stock Performance

NYSE:OMF traded down $2.00 during trading hours on Thursday, hitting $49.92. The company’s stock had a trading volume of 1,041,210 shares, compared to its average volume of 999,358. OneMain has a 52-week low of $35.53 and a 52-week high of $54.94. The business’s 50-day moving average is $47.08 and its two-hundred day moving average is $48.32. The company has a market capitalization of $5.98 billion, a PE ratio of 9.70, a PEG ratio of 0.89 and a beta of 1.56.

OneMain (NYSE:OMF) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.12. OneMain had a net margin of 12.33% and a return on equity of 20.63%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $918.74 million. During the same period in the prior year, the business posted $1.01 earnings per share. As a group, analysts predict that OneMain will post 4.91 EPS for the current fiscal year.

Insider Buying and Selling at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief executive officer now directly owns 417,474 shares of the company’s stock, valued at $20,873,700. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Douglas H. Shulman sold 15,000 shares of OneMain stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $46.30, for a total transaction of $694,500.00. Following the transaction, the chief executive officer now directly owns 422,474 shares of the company’s stock, valued at $19,560,546.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas H. Shulman sold 5,000 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 transaction of $250,000.00. Following the completion of the sale, the chief executive officer now directly owns 417,474 shares of the company’s stock, valued at $20,873,700. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,300 shares of company stock worth $1,534,275 over the last 90 days. Insiders own 0.45% of the company’s stock.

Institutional Trading of OneMain

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EdgeRock Capital LLC bought a new position in shares of OneMain in the second quarter valued at $31,000. International Assets Investment Management LLC purchased a new position in OneMain in the 2nd quarter worth about $34,000. Blue Trust Inc. raised its holdings in OneMain by 43.4% during the 2nd quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock worth $38,000 after buying an additional 225 shares during the period. Abich Financial Wealth Management LLC lifted its stake in OneMain by 46.1% during the first quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock valued at $49,000 after buying an additional 304 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of OneMain by 32.6% in the second quarter. UMB Bank n.a. now owns 1,779 shares of the financial services provider’s stock worth $86,000 after buying an additional 437 shares during the period. 85.82% of the stock is currently owned by institutional investors.

About OneMain

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.