OneMain (NYSE:OMF) Given New $53.00 Price Target at Wells Fargo & Company

OneMain (NYSE:OMF) had its target price upped by Wells Fargo & Company from $48.00 to $53.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the company. Barclays lowered their target price on OneMain from $57.00 to $54.00 and set an overweight rating on the stock in a research note on Thursday, February 8th. TD Cowen increased their price objective on OneMain from $58.00 to $60.00 and gave the stock a buy rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of OneMain from $51.00 to $52.00 and gave the company an overweight rating in a research note on Wednesday. BMO Capital Markets lifted their price objective on shares of OneMain from $48.00 to $50.00 and gave the stock a market perform rating in a research note on Thursday. Finally, StockNews.com upgraded shares of OneMain from a hold rating to a buy rating in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, OneMain has a consensus rating of Moderate Buy and an average price target of $54.62.

OneMain Stock Performance

OMF traded up $0.39 during trading hours on Thursday, reaching $51.20. The company’s stock had a trading volume of 1,019,433 shares, compared to its average volume of 1,057,962. The company’s 50-day moving average is $49.05 and its 200-day moving average is $45.71. OneMain has a 52 week low of $33.67 and a 52 week high of $53.65. The firm has a market cap of $6.14 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 0.71 and a beta of 1.63.

OneMain (NYSE:OMF) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.07. OneMain had a net margin of 13.29% and a return on equity of 20.94%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $907.93 million. During the same quarter last year, the company posted $1.46 EPS. Equities analysts anticipate that OneMain will post 5.65 earnings per share for the current fiscal year.

OneMain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be issued a dividend of $1.04 per share. This is an increase from OneMain’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, May 9th. This represents a $4.16 annualized dividend and a dividend yield of 8.13%. OneMain’s dividend payout ratio (DPR) is 77.97%.

Institutional Trading of OneMain

A number of large investors have recently bought and sold shares of OMF. Norges Bank acquired a new stake in OneMain during the fourth quarter worth approximately $62,732,000. Brave Warrior Advisors LLC grew its holdings in OneMain by 21.1% in the fourth quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock worth $315,707,000 after purchasing an additional 1,118,166 shares during the period. Argent Capital Management LLC increased its stake in OneMain by 608.1% in the first quarter. Argent Capital Management LLC now owns 503,613 shares of the financial services provider’s stock valued at $25,730,000 after purchasing an additional 432,492 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of OneMain by 36.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,366,621 shares of the financial services provider’s stock valued at $67,238,000 after purchasing an additional 367,823 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of OneMain during the 3rd quarter worth about $12,613,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

About OneMain

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.