JPMorgan Chase & Co. Increases OneMain (NYSE:OMF) Price Target to $29.00

OneMain (NYSE:OMF) had its price objective upped by JPMorgan Chase & Co. from $25.50 to $29.00 in a report published on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on OMF. ValuEngine raised shares of OneMain from a strong sell rating to a sell rating in a research note on Thursday, July 2nd. Credit Suisse Group decreased their price objective on OneMain from $59.00 to $36.00 and set an outperform rating for the company in a report on Monday, April 20th. Wells Fargo & Co reiterated a buy rating on shares of OneMain in a research note on Monday, April 20th. Barclays increased their target price on shares of OneMain from $28.00 to $36.00 and gave the company an equal weight rating in a report on Wednesday. Finally, Piper Sandler cut their price target on shares of OneMain from $39.00 to $38.00 and set an overweight rating on the stock in a report on Wednesday, May 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $38.12.

Shares of OneMain stock opened at $28.70 on Wednesday. The stock has a market capitalization of $3.85 billion, a PE ratio of 6.20 and a beta of 2.40. OneMain has a 52 week low of $12.21 and a 52 week high of $48.92. The stock has a 50 day moving average price of $25.02 and a two-hundred day moving average price of $28.89.

OneMain (NYSE:OMF) last issued its earnings results on Monday, July 27th. The financial services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.58. OneMain had a return on equity of 17.28% and a net margin of 13.95%. The company had revenue of $806.00 million for the quarter, compared to analyst estimates of $771.63 million. During the same period in the prior year, the firm earned $1.62 earnings per share. As a group, analysts expect that OneMain will post 3.08 earnings per share for the current fiscal year.

The firm also recently disclosed a None dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Monday, August 10th will be issued a dividend of $2.33 per share. This represents a yield of 4.6%. The ex-dividend date is Friday, August 7th. OneMain’s dividend payout ratio (DPR) is presently 19.64%.

In other OneMain news, CFO Micah R. Conrad bought 2,500 shares of OneMain stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average price of $18.86 per share, for a total transaction of $47,150.00. Following the completion of the purchase, the chief financial officer now directly owns 25,299 shares of the company’s stock, valued at $477,139.14. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.45% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Arden Trust Co increased its stake in shares of OneMain by 16.9% during the first quarter. Arden Trust Co now owns 17,056 shares of the financial services provider’s stock valued at $326,000 after buying an additional 2,463 shares during the period. Nuveen Asset Management LLC increased its position in shares of OneMain by 82.9% during the first quarter. Nuveen Asset Management LLC now owns 1,093,560 shares of the financial services provider’s stock valued at $20,909,000 after buying an additional 495,681 shares during the period. AlphaCrest Capital Management LLC raised its stake in OneMain by 209.1% in the first quarter. AlphaCrest Capital Management LLC now owns 52,600 shares of the financial services provider’s stock worth $1,006,000 after buying an additional 35,583 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in OneMain in the fourth quarter worth about $3,263,000. Finally, Two Sigma Advisers LP boosted its position in OneMain by 363.8% during the 1st quarter. Two Sigma Advisers LP now owns 70,500 shares of the financial services provider’s stock valued at $1,348,000 after acquiring an additional 55,300 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

About OneMain

OneMain Holdings, Inc, through its subsidiaries, provides consumer finance and insurance products and services. The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing. It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.

Featured Story: What is the Book Value of a Share?

Analyst Recommendations for OneMain (NYSE:OMF)

Receive News & Ratings for OneMain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OneMain and related companies with MarketBeat.com's FREE daily email newsletter.