OneMain (NYSE:OMF) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

OneMain (NYSE:OMF) had its price objective trimmed by JPMorgan Chase & Co. from $60.00 to $52.00 in a report released on Monday,Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

OMF has been the topic of a number of other reports. TD Cowen decreased their price objective on shares of OneMain from $68.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a research note on Friday, October 2nd. Truist Financial upped their target price on OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Evercore set a $60.00 target price on OneMain in a report on Thursday, October 1st. Finally, Citigroup reaffirmed a “market outperform” rating on shares of OneMain in a report on Thursday, July 30th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.27.

OneMain Stock Down 2.7%

OMF stock opened at $54.58 on Monday. OneMain has a 12 month low of $45.78 and a 12 month high of $71.93. The firm has a market cap of $6.28 billion, a P/E ratio of 8.22, a P/E/G ratio of 0.45 and a beta of 1.24. The company’s 50-day moving average price is $60.89 and its two-hundred day moving average price is $58.66.

OneMain (NYSE:OMF) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.26 by $0.05. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the company earned $1.45 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities analysts predict that OneMain will post 6.73 EPS for the current year.

OneMain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were paid a $1.05 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $4.20 annualized dividend and a yield of 7.7%. OneMain’s dividend payout ratio is presently 63.25%.

Insider Buying and Selling

In other OneMain news, COO Micah Conrad sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $65.40, for a total value of $327,000.00. Following the sale, the chief operating officer owned 91,250 shares in the company, valued at $5,967,750. This trade represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael Hedlund sold 2,500 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $64.00, for a total transaction of $160,000.00. Following the sale, the senior vice president directly owned 10,627 shares in the company, valued at approximately $680,128. The trade was a 19.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On OneMain

Several hedge funds have recently modified their holdings of OMF. GK Wealth Management LLC acquired a new stake in OneMain in the third quarter valued at $45,000. Freestone Grove Partners LP bought a new position in OneMain during the 2nd quarter worth $61,000. Parkside Financial Bank & Trust raised its position in OneMain by 32.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,011 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 246 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in OneMain by 37.2% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,180 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 320 shares during the last quarter. Finally, Root Financial Partners LLC lifted its holdings in OneMain by 128.4% during the 1st quarter. Root Financial Partners LLC now owns 1,222 shares of the financial services provider’s stock worth $65,000 after buying an additional 687 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

About OneMain

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company focused on providing personal loans to customers in the United States. Its products are primarily unsecured and secured installment loans designed for purposes such as debt consolidation, home improvements, unexpected expenses and major purchases.

OneMain also offers optional insurance products and other ancillary services related to its lending activities. The company serves customers through a combination of local branches, online platforms and digital application tools, supporting borrowers who may not be served by traditional banks.

OneMain’s history traces back to consumer-finance operations established in the early 20th century.