OneMain (NYSE:OMF) Price Target Cut to $65.00

OneMain (NYSE:OMFGet Rating) had its price objective reduced by Wells Fargo & Company from $70.00 to $65.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 38.18% from the company’s current price.

Other equities research analysts also recently issued reports about the company. StockNews.com initiated coverage on OneMain in a report on Thursday, March 31st. They issued a “buy” rating for the company. Barclays decreased their price target on OneMain from $77.00 to $72.00 and set an “overweight” rating for the company in a report on Monday, January 10th. Zacks Investment Research downgraded OneMain from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Finally, JPMorgan Chase & Co. decreased their price target on OneMain from $64.00 to $56.00 in a report on Wednesday, January 19th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $69.08.

OMF stock opened at $47.04 on Monday. The firm has a market capitalization of $6.00 billion, a P/E ratio of 4.78 and a beta of 1.78. OneMain has a twelve month low of $42.13 and a twelve month high of $63.19. The company has a 50 day moving average price of $47.36.

OneMain (NYSE:OMFGet Rating) last posted its quarterly earnings data on Wednesday, February 2nd. The financial services provider reported $2.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.07. The business had revenue of $784.00 million during the quarter, compared to the consensus estimate of $1.06 billion. OneMain had a return on equity of 44.08% and a net margin of 28.60%. During the same period in the prior year, the company earned $2.77 earnings per share. On average, equities analysts anticipate that OneMain will post 8.51 earnings per share for the current fiscal year.

In other news, CEO Douglas H. Shulman purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, March 1st. The stock was acquired at an average price of $48.37 per share, for a total transaction of $48,370.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

A number of institutional investors have recently bought and sold shares of OMF. Morgan Stanley increased its position in OneMain by 20.0% during the 2nd quarter. Morgan Stanley now owns 497,369 shares of the financial services provider’s stock worth $29,796,000 after purchasing an additional 82,778 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in OneMain by 2.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 47,809 shares of the financial services provider’s stock worth $2,645,000 after purchasing an additional 1,367 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in OneMain during the 3rd quarter worth about $220,000. Amalgamated Bank increased its position in OneMain by 6.3% during the 3rd quarter. Amalgamated Bank now owns 32,152 shares of the financial services provider’s stock worth $1,779,000 after purchasing an additional 1,910 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in OneMain by 75.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 55,946 shares of the financial services provider’s stock worth $3,095,000 after buying an additional 24,040 shares during the last quarter. Hedge funds and other institutional investors own 90.92% of the company’s stock.

About OneMain (Get Rating)

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses. The company originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit insurance products comprising life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.

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