OneMain (NYSE:OMF) Price Target Raised to $70.00

OneMain (NYSE:OMF) had its target price increased by Citizens Jmp from $63.00 to $70.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a market outperform rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on OMF. Citigroup reaffirmed an “outperform” rating on shares of OneMain in a research report on Monday. JMP Securities set a $70.00 price target on shares of OneMain in a report on Monday. Wells Fargo & Company began coverage on shares of OneMain in a research note on Monday, August 25th. They issued an “equal weight” rating for the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $57.00 price objective (down from $63.00) on shares of OneMain in a report on Tuesday, October 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of OneMain in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.13.

OneMain Stock Up 0.7%

Shares of NYSE OMF opened at $60.90 on Monday. OneMain has a twelve month low of $38.00 and a twelve month high of $63.24. The firm has a market cap of $7.24 billion, a P/E ratio of 10.99, a PEG ratio of 0.45 and a beta of 1.32. The company has a 50 day moving average of $58.36 and a 200 day moving average of $55.81.

OneMain (NYSE:OMF) last issued its earnings results on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.58 by $0.32. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. OneMain had a return on equity of 20.65% and a net margin of 12.63%.During the same period last year, the business posted $1.31 EPS. As a group, equities analysts expect that OneMain will post 6.46 earnings per share for the current fiscal year.

OneMain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 10th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 6.9%. This is a positive change from OneMain’s previous quarterly dividend of $1.04. The ex-dividend date is Monday, November 10th. OneMain’s dividend payout ratio (DPR) is presently 71.19%.

Insiders Place Their Bets

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $59.54, for a total value of $2,083,900.00. Following the transaction, the chief executive officer directly owned 231,600 shares in the company, valued at approximately $13,789,464. This trade represents a 13.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On OneMain

Several hedge funds and other institutional investors have recently modified their holdings of OMF. GAMMA Investing LLC grew its holdings in OneMain by 191.9% during the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 662 shares during the period. Teacher Retirement System of Texas bought a new position in shares of OneMain in the first quarter worth about $853,000. Concurrent Investment Advisors LLC lifted its position in shares of OneMain by 15.2% during the 1st quarter. Concurrent Investment Advisors LLC now owns 10,705 shares of the financial services provider’s stock valued at $523,000 after buying an additional 1,409 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of OneMain by 15.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 92,189 shares of the financial services provider’s stock valued at $4,506,000 after acquiring an additional 12,407 shares during the period. Finally, Allworth Financial LP grew its stake in shares of OneMain by 21.7% during the 1st quarter. Allworth Financial LP now owns 1,976 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 352 shares during the period. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

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.