OneMain (NYSE:OMF) Price Target Cut to $63.00 by Analysts at JMP Securities

OneMain (NYSE:OMF) had its price objective cut by JMP Securities from $65.00 to $63.00 in a research note issued to investors on Monday morning, MarketBeat reports. They currently have a market outperform rating on the financial services provider’s stock.

OMF has been the subject of a number of other reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 price target (down from $63.00) on shares of OneMain in a research report on Tuesday, October 7th. Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of OneMain from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company assumed coverage on shares of OneMain in a research report on Monday, August 25th. They set an “equal weight” rating for the company. Finally, Citigroup reiterated an “outperform” rating on shares of OneMain in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, OneMain currently has a consensus rating of “Moderate Buy” and an average price target of $60.50.

OneMain Price Performance

OMF opened at $53.23 on Monday. The company has a fifty day moving average price of $58.68 and a 200-day moving average price of $54.31. The firm has a market capitalization of $6.33 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 0.42 and a beta of 1.32. OneMain has a one year low of $38.00 and a one year high of $63.24.

OneMain (NYSE:OMF) last released its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 EPS. On average, analysts expect that OneMain will post 6.46 earnings per share for the current year.

OneMain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were given a $1.04 dividend. The ex-dividend date was Monday, August 4th. This represents a $4.16 annualized dividend and a yield of 7.8%. OneMain’s payout ratio is 75.09%.

Insiders Place Their Bets

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the sale, the chief executive officer directly owned 275,100 shares of the company’s stock, valued at $16,360,197. The trade was a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of OneMain

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in OneMain by 56.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 121,577 shares of the financial services provider’s stock worth $5,966,000 after purchasing an additional 43,915 shares during the last quarter. GAMMA Investing LLC lifted its stake in OneMain by 191.9% in the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 662 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in OneMain by 5.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,851 shares of the financial services provider’s stock worth $1,251,000 after purchasing an additional 1,441 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in OneMain in the first quarter worth $853,000. Finally, SG Americas Securities LLC lifted its stake in OneMain by 171.9% in the first quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 6,875 shares during the last quarter. 85.82% of the stock is 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.