OneMain (NYSE:OMF) Receives Neutral Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of OneMain (NYSE:OMF) in a research note released on Tuesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has a $57.00 price objective on the financial services provider’s stock, down from their prior price objective of $63.00.

Several other equities analysts also recently weighed in on OMF. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of OneMain in a research note on Saturday, September 27th. Barclays raised their price objective on OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company began coverage on OneMain in a research note on Monday, August 25th. They issued an “equal weight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, OneMain has a consensus rating of “Moderate Buy” and a consensus price target of $60.75.

OneMain Price Performance

OMF opened at $54.88 on Tuesday. The business has a 50 day simple moving average of $58.93 and a 200-day simple moving average of $54.21. The stock has a market capitalization of $6.52 billion, a P/E ratio of 9.91, a P/E/G ratio of 0.43 and a beta of 1.32. OneMain has a 12 month low of $38.00 and a 12 month high of $63.24.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.25 by $0.20. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $1.02 EPS. Research analysts anticipate that OneMain will post 6.46 EPS for the current year.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.16 annualized dividend and a yield of 7.6%. OneMain’s dividend payout ratio (DPR) is presently 75.09%.

Insiders Place Their Bets

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the completion of the transaction, the chief executive officer owned 275,100 shares of the company’s stock, valued at approximately $16,360,197. This trade represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On OneMain

Hedge funds have recently made changes to their positions in the business. Alpine Bank Wealth Management acquired a new stake in shares of OneMain during the first quarter worth $27,000. SVB Wealth LLC acquired a new stake in shares of OneMain during the first quarter worth $34,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of OneMain by 79.4% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 820 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 363 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of OneMain during the first quarter worth $42,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of OneMain by 2,940.0% during the second quarter. Golden State Wealth Management LLC now owns 912 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 882 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

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.