OneMain (NYSE:OMF) Price Target Raised to $80.00

OneMain (NYSE:OMF) had its price objective raised by TD Cowen from $72.00 to $80.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other research analysts also recently commented on the stock. Evercore ISI set a $75.00 price target on shares of OneMain in a report on Tuesday. Citigroup reaffirmed a “market outperform” rating on shares of OneMain in a research note on Monday, November 24th. JMP Securities set a $68.00 target price on OneMain in a report on Monday, November 24th. Wall Street Zen downgraded OneMain from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Finally, Cowen restated a “buy” rating on shares of OneMain in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, OneMain currently has an average rating of “Moderate Buy” and an average price target of $70.70.

OneMain Stock Performance

OMF stock opened at $70.93 on Thursday. The firm has a fifty day moving average price of $64.63 and a 200 day moving average price of $60.39. OneMain has a fifty-two week low of $38.00 and a fifty-two week high of $71.93. The firm has a market cap of $8.35 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.39 and a beta of 1.33.

OneMain (NYSE:OMF) last released its quarterly earnings data 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. OneMain had a net margin of 13.15% and a return on equity of 22.70%. The business had revenue of $747.00 million during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the business earned $1.31 earnings per share. On average, equities analysts predict that OneMain will post 6.46 EPS for the current year.

OneMain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 10th were paid a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 5.9%. This is an increase from OneMain’s previous quarterly dividend of $1.04. OneMain’s dividend payout ratio is 71.19%.

Insider Buying and Selling at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $59.20, for a total transaction of $296,000.00. Following the completion of the sale, the chief operating officer directly owned 88,221 shares of the company’s stock, valued at approximately $5,222,683.20. The trade was a 5.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Hedlund sold 652 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $62.00, for a total transaction of $40,424.00. Following the completion of the transaction, the senior vice president owned 15,179 shares in the company, valued at approximately $941,098. The trade was a 4.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 98,152 shares of company stock valued at $6,353,899 in the last quarter. 0.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in OneMain by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,970,406 shares of the financial services provider’s stock valued at $675,849,000 after buying an additional 249,785 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of OneMain in the second quarter valued at approximately $611,102,000. Capital International Investors grew its stake in OneMain by 0.8% in the third quarter. Capital International Investors now owns 10,376,590 shares of the financial services provider’s stock worth $585,868,000 after purchasing an additional 82,202 shares in the last quarter. Brave Warrior Advisors LLC increased its holdings in OneMain by 7.2% during the 2nd quarter. Brave Warrior Advisors LLC now owns 7,870,085 shares of the financial services provider’s stock worth $448,595,000 after purchasing an additional 526,449 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in OneMain by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,980,031 shares of the financial services provider’s stock valued at $224,723,000 after purchasing an additional 63,774 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

About OneMain

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.