JMP Securities Boosts OneMain (NYSE:OMF) Price Target to $62.00

OneMain (NYSE:OMF) had its price objective lifted by JMP Securities from $57.00 to $62.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a market outperform rating on the financial services provider’s stock.

Several other equities research analysts have also commented on OMF. Citigroup dropped their price target on shares of OneMain from $54.00 to $52.00 and set a buy rating on the stock in a research note on Thursday, February 8th. Barclays lowered their target price on OneMain from $57.00 to $54.00 and set an overweight rating on the stock in a research report on Thursday, February 8th. Royal Bank of Canada boosted their price target on OneMain from $50.00 to $55.00 and gave the stock an outperform rating in a research report on Monday, April 1st. Wells Fargo & Company lifted their price objective on shares of OneMain from $43.00 to $48.00 and gave the company an equal weight rating in a research note on Thursday, January 4th. Finally, Northland Securities downgraded shares of OneMain from an outperform rating to a market perform rating and upped their price objective for the stock from $46.00 to $49.00 in a report on Wednesday, January 17th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $54.62.

OneMain Price Performance

Shares of OMF opened at $51.20 on Wednesday. OneMain has a 12 month low of $33.67 and a 12 month high of $53.65. The stock has a fifty day moving average price of $49.05 and a 200 day moving average price of $45.71. The company has a market cap of $6.14 billion, a P/E ratio of 9.98, a PEG ratio of 0.71 and a beta of 1.63.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.07. OneMain had a net margin of 13.29% and a return on equity of 20.94%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $907.93 million. During the same quarter in the previous year, the company posted $1.46 earnings per share. As a group, research analysts anticipate that OneMain will post 5.65 earnings per share for the current year.

OneMain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from OneMain’s previous quarterly dividend of $1.00. This represents a $4.16 annualized dividend and a dividend yield of 8.13%. OneMain’s dividend payout ratio (DPR) is currently 77.97%.

Institutional Investors Weigh In On OneMain

A number of institutional investors and hedge funds have recently modified their holdings of OMF. AE Wealth Management LLC raised its holdings in OneMain by 27.8% during the 3rd quarter. AE Wealth Management LLC now owns 9,001 shares of the financial services provider’s stock worth $361,000 after buying an additional 1,959 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of OneMain by 3.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 97,198 shares of the financial services provider’s stock valued at $3,897,000 after acquiring an additional 2,800 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of OneMain by 5.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,052,225 shares of the financial services provider’s stock valued at $42,184,000 after acquiring an additional 58,079 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in OneMain by 1.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 35,708 shares of the financial services provider’s stock worth $1,432,000 after purchasing an additional 363 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in OneMain by 71.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,001 shares of the financial services provider’s stock worth $1,323,000 after purchasing an additional 13,697 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

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.