Wells Fargo & Company Cuts OneMain (NYSE:OMF) Price Target to $65.00

OneMain (NYSE:OMF) had its price objective lowered by Wells Fargo & Company from $70.00 to $65.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on OMF. TD Cowen reissued a “buy” rating on shares of OneMain in a research note on Thursday, January 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of OneMain in a research note on Monday, December 29th. JPMorgan Chase & Co. reduced their price target on shares of OneMain from $65.00 to $63.00 and set an “underweight” rating on the stock in a research note on Friday, February 6th. Wall Street Zen downgraded shares of OneMain from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. Finally, Barclays reduced their price target on shares of OneMain from $71.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.44.

OneMain Trading Down 1.2%

Shares of OMF opened at $55.94 on Thursday. OneMain has a twelve month low of $41.40 and a twelve month high of $71.93. The company has a market cap of $6.55 billion, a P/E ratio of 8.51, a P/E/G ratio of 0.40 and a beta of 1.30. The company’s fifty day simple moving average is $55.55 and its 200-day simple moving average is $59.86.

OneMain (NYSE:OMF) last announced its earnings results on Thursday, February 5th. The financial services provider reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.04. OneMain had a net margin of 14.35% and a return on equity of 23.76%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Analysts predict that OneMain will post 6.46 earnings per share for the current fiscal year.

OneMain Announces Dividend

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

Insider Buying and Selling

In related news, COO Micah R. Conrad sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $58.00, for a total value of $290,000.00. Following the transaction, the chief operating officer owned 106,250 shares of the company’s stock, valued at $6,162,500. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Csenge Advisory Group increased its position in OneMain by 4.1% during the 4th quarter. Csenge Advisory Group now owns 4,239 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 167 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in OneMain by 4.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,075 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 174 shares during the period. Geneos Wealth Management Inc. increased its position in OneMain by 9.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 176 shares during the period. Prime Capital Investment Advisors LLC increased its position in OneMain by 3.9% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,710 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 177 shares during the period. Finally, Generali Asset Management SPA SGR increased its position in OneMain by 5.9% during the 4th quarter. Generali Asset Management SPA SGR now owns 3,413 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

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.