OneMain (NYSE:OMF) Price Target Raised to $59.00 at JPMorgan Chase & Co.

OneMain (NYSE:OMF) had its price objective increased by JPMorgan Chase & Co. from $57.00 to $59.00 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other analysts also recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of OneMain in a report on Friday. JMP Securities set a $70.00 target price on shares of OneMain in a report on Monday. Citizens Jmp increased their target price on shares of OneMain from $63.00 to $70.00 and gave the company a “market outperform” rating in a report on Monday. Citigroup reiterated an “outperform” rating on shares of OneMain in a report on Monday. Finally, Wells Fargo & Company started coverage on shares of OneMain in a report on Monday, August 25th. They issued an “equal weight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.13.

OneMain Price Performance

NYSE OMF opened at $61.30 on Monday. The company has a fifty day moving average price of $58.39 and a 200-day moving average price of $55.66. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 0.45 and a beta of 1.32. OneMain has a 1 year low of $38.00 and a 1 year high of $63.24.

OneMain (NYSE:OMF) last announced its earnings results on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.58 by $0.32. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. During the same quarter in the prior year, the company posted $1.31 earnings per share. On average, research analysts anticipate that OneMain will post 6.46 EPS for the current fiscal year.

OneMain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 10th will be given a $1.05 dividend. This is a positive change from OneMain’s previous quarterly dividend of $1.04. This represents a $4.20 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend is Monday, November 10th. OneMain’s payout ratio is presently 71.19%.

Hedge Funds Weigh In On OneMain

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMF. Kingstone Capital Partners Texas LLC bought a new position in OneMain during the second quarter worth about $611,102,000. Norges Bank bought a new position in OneMain during the second quarter worth about $85,541,000. Nuveen LLC bought a new position in OneMain during the first quarter worth about $48,282,000. Cooperman Leon G boosted its position in OneMain by 187.7% during the first quarter. Cooperman Leon G now owns 889,000 shares of the financial services provider’s stock worth $43,454,000 after purchasing an additional 580,000 shares during the period. Finally, Brave Warrior Advisors LLC boosted its position in OneMain by 7.2% during the second quarter. Brave Warrior Advisors LLC now owns 7,870,085 shares of the financial services provider’s stock worth $448,595,000 after purchasing an additional 526,449 shares during the period. Institutional investors 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.