JPMorgan Chase & Co. Cuts OneMain (NYSE:OMF) Price Target to $55.00

OneMain (NYSE:OMF) had its price objective reduced by JPMorgan Chase & Co. from $63.00 to $55.00 in a report issued on Thursday morning,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

A number of other research firms have also recently commented on OMF. Stephens dropped their price objective on OneMain to $76.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research report on Monday, December 29th. TD Cowen reissued a “buy” rating on shares of OneMain in a research note on Thursday, January 8th. Wall Street Zen lowered OneMain from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. Finally, Royal Bank Of Canada raised their price target on OneMain from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, OneMain has an average rating of “Moderate Buy” and a consensus price target of $67.44.

OneMain Stock Down 1.2%

NYSE:OMF opened at $55.94 on Thursday. The company has a market capitalization of $6.55 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 0.40 and a beta of 1.30. OneMain has a 52-week low of $41.40 and a 52-week high of $71.93. The stock has a fifty day simple moving average of $55.55 and a 200-day simple moving average of $59.86.

OneMain (NYSE:OMF) last released its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.04. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.28 billion. OneMain had a return on equity of 23.76% and a net margin of 14.35%.During the same quarter in the previous year, the company posted $1.16 EPS. As a group, equities analysts anticipate that OneMain will post 6.46 earnings per share for the current year.

OneMain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Stockholders of record on Tuesday, February 17th were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend was Tuesday, February 17th. OneMain’s payout ratio is currently 63.93%.

Insider Buying and Selling at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $58.00, for a total value of $290,000.00. Following the transaction, the chief operating officer directly owned 106,250 shares of the company’s stock, valued at $6,162,500. The trade was a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On OneMain

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in OneMain by 33.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 289,943 shares of the financial services provider’s stock worth $16,370,000 after acquiring an additional 72,688 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in OneMain by 24.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 259,803 shares of the financial services provider’s stock worth $17,945,000 after acquiring an additional 50,521 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in OneMain by 84.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 234,521 shares of the financial services provider’s stock worth $13,241,000 after acquiring an additional 107,204 shares in the last quarter. D.A. Davidson & CO. lifted its position in OneMain by 43.1% during the 3rd quarter. D.A. Davidson & CO. now owns 34,385 shares of the financial services provider’s stock worth $1,941,000 after acquiring an additional 10,357 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in OneMain during the 3rd quarter worth approximately $907,000. 85.82% of the stock is owned by institutional investors and hedge funds.

OneMain Company Profile

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.