OneMain (NYSE:OMF) Price Target Lowered to $62.00 at Barclays

OneMain (NYSE:OMF) had its price objective trimmed by Barclays from $71.00 to $62.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

OMF has been the topic of a number of other reports. Truist Financial dropped their target price on shares of OneMain from $75.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. JPMorgan Chase & Co. dropped their target price 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. Wells Fargo & Company dropped their target price on shares of OneMain from $75.00 to $70.00 and set an “equal weight” 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, TD Cowen restated a “buy” rating on shares of OneMain in a research note on Thursday, January 8th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.89.

OneMain Price Performance

Shares of OMF stock opened at $54.94 on Monday. The company has a market capitalization of $6.44 billion, a P/E ratio of 8.36, a P/E/G ratio of 0.40 and a beta of 1.30. The company’s 50-day simple moving average is $56.34 and its two-hundred day simple moving average is $60.00. OneMain has a one year low of $38.00 and a one year high of $71.93.

OneMain (NYSE:OMF) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.04. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.28 billion. OneMain had a net margin of 14.35% and a return on equity of 23.76%. During the same period in the prior year, the firm earned $1.16 EPS. On average, research analysts expect that OneMain will post 6.46 EPS for the current fiscal year.

OneMain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Stockholders of record on Tuesday, February 17th were paid a dividend of $1.05 per share. The ex-dividend date was Tuesday, February 17th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 7.6%. OneMain’s dividend payout ratio (DPR) is currently 63.93%.

Insider Activity

In other news, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. Following the transaction, the chief operating officer directly owned 106,250 shares in the company, valued at approximately $6,162,500. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On OneMain

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of OneMain by 2.1% during the third quarter. Vanguard Group Inc. now owns 11,970,406 shares of the financial services provider’s stock valued at $675,849,000 after purchasing an additional 249,785 shares in the last quarter. Capital International Investors boosted its stake in shares of OneMain by 0.8% during the third quarter. Capital International Investors now owns 10,376,590 shares of the financial services provider’s stock valued at $585,868,000 after purchasing an additional 82,202 shares in the last quarter. Brave Warrior Advisors LLC lifted 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 valued at $448,595,000 after acquiring an additional 526,449 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in OneMain by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,033,871 shares of the financial services provider’s stock valued at $272,490,000 after acquiring an additional 53,840 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in OneMain by 70.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,534,271 shares of the financial services provider’s stock valued at $171,210,000 after acquiring an additional 1,047,263 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors.

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.