OneMain’s (OMF) Underweight Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their underweight rating on shares of OneMain (NYSE:OMF) in a research report report published on Monday, Marketbeat Ratings reports. The brokerage currently has a $65.00 price objective on the financial services provider’s stock, up from their prior price objective of $59.00.

Several other brokerages also recently issued reports on OMF. Wells Fargo & Company boosted their target price on shares of OneMain from $63.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Cowen reiterated a “buy” rating on shares of OneMain in a report on Thursday. Barclays upped their price target on OneMain from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded OneMain from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Truist Financial began coverage on OneMain in a research note on Monday, December 8th. They set a “buy” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.30.

OneMain Trading Down 6.1%

NYSE OMF opened at $66.59 on Monday. OneMain has a 1 year low of $38.00 and a 1 year high of $71.93. The company has a market cap of $7.84 billion, a PE ratio of 11.29, a PEG ratio of 0.39 and a beta of 1.33. The stock’s 50-day moving average price is $64.74 and its two-hundred day moving average price is $60.50.

OneMain (NYSE:OMF) last released its earnings results on Friday, October 31st. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.32. OneMain had a net margin of 13.15% and a return on equity of 22.70%. The business had revenue of $747.00 million for the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the firm posted $1.31 earnings per share. Research analysts forecast that OneMain will post 6.46 EPS for the current fiscal year.

OneMain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 10th were issued a dividend of $1.05 per share. The ex-dividend date was Monday, November 10th. This represents a $4.20 annualized dividend and a dividend yield of 6.3%. This is a positive change from OneMain’s previous quarterly dividend of $1.04. OneMain’s dividend payout ratio is presently 71.19%.

Insider Activity at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 57,500 shares of OneMain stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $68.41, for a total value of $3,933,575.00. Following the completion of the sale, the chief executive officer directly owned 174,100 shares in the company, valued at $11,910,181. The trade was a 24.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $59.20, for a total transaction of $296,000.00. Following the completion of the sale, the chief operating officer directly owned 88,221 shares of the company’s stock, valued at $5,222,683.20. This represents a 5.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 98,152 shares of company stock valued at $6,353,899. 0.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OMF. Kingstone Capital Partners Texas LLC bought a new stake in OneMain in the second quarter worth $611,102,000. Norges Bank bought a new position in OneMain during the second quarter valued at about $85,541,000. Certuity LLC lifted its position in shares of OneMain by 107.6% in the third quarter. Certuity LLC now owns 1,930,792 shares of the financial services provider’s stock worth $109,013,000 after buying an additional 1,000,654 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of OneMain by 57.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,965,244 shares of the financial services provider’s stock worth $110,958,000 after acquiring an additional 713,670 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of OneMain by 254.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 741,752 shares of the financial services provider’s stock worth $41,879,000 after acquiring an additional 532,324 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

About OneMain

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.