OneMain’s (OMF) Underweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of OneMain (NYSE:OMF) in a research note published on Monday morning, Marketbeat Ratings reports. The firm currently has a $65.00 target price on the financial services provider’s stock, up from their previous target price of $59.00.

Several other brokerages have also recently commented on OMF. Evercore ISI set a $75.00 price target on shares of OneMain in a research report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of OneMain in a research note on Monday, December 29th. Wells Fargo & Company lifted their target price on shares of OneMain from $63.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. JMP Securities set a $68.00 price objective on shares of OneMain in a research note on Monday, November 24th. Finally, TD Cowen boosted their target price on shares of OneMain from $72.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, OneMain currently has an average rating of “Moderate Buy” and a consensus price target of $71.30.

OneMain Price Performance

OMF stock opened at $65.93 on Monday. The company has a market capitalization of $7.76 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. OneMain has a 12 month low of $38.00 and a 12 month high of $71.93. The firm’s fifty day simple moving average is $64.95 and its 200-day simple moving average is $60.61.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.32. The business had revenue of $747.00 million during the quarter, compared to the consensus estimate of $1.24 billion. OneMain had a net margin of 13.15% and a return on equity of 22.70%. During the same quarter in the prior year, the firm posted $1.31 earnings per share. As a group, sell-side analysts forecast that OneMain will post 6.46 earnings per share for the current year.

OneMain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were issued a $1.05 dividend. The ex-dividend date was Monday, November 10th. This represents a $4.20 dividend on an annualized basis and a yield of 6.4%. This is a boost from OneMain’s previous quarterly dividend of $1.04. OneMain’s dividend payout ratio (DPR) is currently 71.19%.

Insider Buying and Selling at OneMain

In other news, SVP Michael A. Hedlund sold 652 shares of OneMain stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $62.00, for a total transaction of $40,424.00. Following the sale, the senior vice president owned 15,179 shares in the company, valued at $941,098. This trade represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas H. Shulman sold 57,500 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $68.41, for a total transaction of $3,933,575.00. Following the transaction, the chief executive officer directly owned 174,100 shares in the company, valued at approximately $11,910,181. The trade was a 24.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 98,152 shares of company stock valued at $6,353,899 over the last 90 days. 0.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of OneMain by 2.1% during the third quarter. Vanguard Group Inc. now owns 11,970,406 shares of the financial services provider’s stock worth $675,849,000 after buying an additional 249,785 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in OneMain during the 2nd quarter valued at $611,102,000. Capital International Investors grew its holdings in OneMain by 0.8% during the 3rd quarter. Capital International Investors now owns 10,376,590 shares of the financial services provider’s stock worth $585,868,000 after acquiring an additional 82,202 shares in the last quarter. Brave Warrior Advisors LLC increased its position in shares of OneMain by 7.2% in 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 last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of OneMain by 1.6% in 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. Institutional investors and hedge funds own 85.82% of the company’s stock.

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.