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

OneMain (NYSE:OMF) had its price target lowered by investment analysts at Barclays from $71.00 to $62.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would indicate a potential upside of 13.85% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. cut their price target on OneMain from $65.00 to $63.00 and set an “underweight” rating on the stock in a research note on Friday, February 6th. Evercore set a $55.00 target price on shares of OneMain in a research note on Tuesday, March 17th. Wall Street Zen lowered shares of OneMain from a “buy” rating to a “hold” rating in a report on Sunday, January 18th. Truist Financial dropped their price objective on OneMain from $75.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Finally, Stephens lowered their price target on OneMain to $76.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Eight 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.89.

OneMain Trading Up 0.7%

OneMain stock traded up $0.39 during mid-day trading on Monday, hitting $54.46. The stock had a trading volume of 129,200 shares, compared to its average volume of 1,578,626. The stock has a 50-day simple moving average of $56.55 and a two-hundred day simple moving average of $60.04. The stock has a market capitalization of $6.38 billion, a PE ratio of 8.28, a P/E/G ratio of 0.40 and a beta of 1.30. OneMain has a 12 month low of $38.00 and a 12 month high of $71.93.

OneMain (NYSE:OMF) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.04. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.28 billion. OneMain had a net margin of 14.35% and a return on equity of 23.76%. During the same quarter last year, the firm earned $1.16 EPS. Sell-side analysts expect that OneMain will post 6.46 earnings per share for the current fiscal year.

Insider Transactions at OneMain

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $58.00, for a total value of $290,000.00. Following the sale, the chief operating officer owned 106,250 shares in the company, valued at approximately $6,162,500. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On OneMain

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC lifted its position in OneMain by 117.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock worth $25,000 after buying an additional 202 shares in the last quarter. Root Financial Partners LLC bought a new stake in OneMain during the third quarter worth about $26,000. Core Wealth Advisors LLC acquired a new position in OneMain during the fourth quarter valued at approximately $31,000. Activest Wealth Management raised its stake in shares of OneMain by 1,102.1% during the 3rd quarter. Activest Wealth Management now owns 577 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 529 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of OneMain in the 4th quarter valued at approximately $36,000. 85.82% of the stock is currently 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.