OneMain (NYSE:OMF) Given New $62.00 Price Target at JMP Securities

OneMain (NYSE:OMF) had its price objective boosted by JMP Securities from $57.00 to $62.00 in a report issued on Wednesday, Benzinga reports. JMP Securities currently has a market outperform rating on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on the company. StockNews.com raised OneMain from a hold rating to a buy rating in a research note on Wednesday, February 14th. Barclays lowered their price objective on shares of OneMain from $57.00 to $54.00 and set an overweight rating for the company in a research report on Thursday, February 8th. Northland Securities cut shares of OneMain from an outperform rating to a market perform rating and boosted their price objective for the company from $46.00 to $49.00 in a research report on Wednesday, January 17th. Stephens lowered their target price on OneMain from $61.00 to $57.00 and set an overweight rating for the company in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. boosted their price target on OneMain from $47.00 to $51.00 and gave the company an overweight rating in a report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, OneMain currently has an average rating of Moderate Buy and an average price target of $54.62.

OneMain Trading Up 0.8 %

NYSE:OMF opened at $51.20 on Wednesday. OneMain has a 1-year low of $33.67 and a 1-year high of $53.65. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.71 and a beta of 1.63. The business’s 50-day moving average price is $49.05 and its two-hundred day moving average price is $45.71.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share 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 for the quarter, compared to analysts’ expectations of $907.93 million. During the same period last year, the firm posted $1.46 earnings per share. Sell-side analysts predict that OneMain will post 5.65 earnings per share for the current year.

OneMain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from OneMain’s previous quarterly dividend of $1.00. This represents a $4.16 annualized dividend and a yield of 8.13%. OneMain’s dividend payout ratio is 77.97%.

Institutional Investors Weigh In On OneMain

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in shares of OneMain in the third quarter valued at $26,000. Blue Trust Inc. lifted its stake in OneMain by 49.9% in the fourth quarter. Blue Trust Inc. now owns 730 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 243 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in shares of OneMain in the 4th quarter valued at about $36,000. Operose Advisors LLC acquired a new position in shares of OneMain during the 3rd quarter worth about $40,000. Finally, Allworth Financial LP raised its holdings in shares of OneMain by 368.4% in the 3rd quarter. Allworth Financial LP now owns 1,068 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 840 shares during the period. Institutional investors own 85.82% of the company’s stock.

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.