JPMorgan Chase & Co. Cuts OneMain (NYSE:OMF) Price Target to $51.00

OneMain (NYSE:OMF) had its price objective lowered by JPMorgan Chase & Co. from $56.00 to $51.00 in a research report released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

A number of other research firms also recently issued reports on OMF. JMP Securities reaffirmed a market outperform rating and issued a $60.00 target price on shares of OneMain in a research report on Tuesday, September 24th. Royal Bank of Canada reiterated an outperform rating and set a $60.00 price objective on shares of OneMain in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of OneMain from $64.00 to $61.00 and set a buy rating for the company in a research note on Tuesday, July 9th. Barclays lowered their target price on shares of OneMain from $55.00 to $52.00 and set an overweight rating on the stock in a report on Tuesday, July 9th. Finally, Northland Securities increased their price target on shares of OneMain from $53.00 to $55.00 and gave the company a market perform rating in a research note on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, OneMain currently has an average rating of Moderate Buy and an average price target of $54.33.

OneMain Stock Performance

NYSE OMF opened at $45.61 on Monday. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 0.81 and a beta of 1.56. OneMain has a 52 week low of $35.00 and a 52 week high of $54.94. The stock’s 50 day moving average price is $46.66 and its two-hundred day moving average price is $48.52.

OneMain (NYSE:OMF) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, topping the consensus estimate of $0.90 by $0.12. OneMain had a net margin of 12.33% and a return on equity of 20.63%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $918.74 million. During the same quarter in the prior year, the company posted $1.01 earnings per share. On average, equities research analysts forecast that OneMain will post 5.11 EPS for the current year.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were paid a $1.04 dividend. The ex-dividend date was Monday, August 12th. This represents a $4.16 dividend on an annualized basis and a yield of 9.12%. OneMain’s dividend payout ratio (DPR) is currently 81.09%.

Insider Buying and Selling at OneMain

In other news, SVP Michael A. Hedlund sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $120,000.00. Following the completion of the sale, the senior vice president now owns 20,947 shares in the company, valued at $1,047,350. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other OneMain news, SVP Michael A. Hedlund sold 2,400 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $120,000.00. Following the transaction, the senior vice president now owns 20,947 shares in the company, valued at $1,047,350. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas H. Shulman sold 15,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $46.30, for a total transaction of $694,500.00. Following the completion of the sale, the chief executive officer now directly owns 422,474 shares of the company’s stock, valued at approximately $19,560,546.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,300 shares of company stock valued at $1,534,275 in the last three months. 0.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Brave Warrior Advisors LLC increased its position in shares of OneMain by 21.1% in the fourth quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock worth $315,707,000 after purchasing an additional 1,118,166 shares during the period. Capital International Investors increased its holdings in OneMain by 10.2% in the 1st quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock valued at $488,937,000 after buying an additional 889,387 shares during the period. Clearbridge Investments LLC raised its position in shares of OneMain by 64.8% in the 1st quarter. Clearbridge Investments LLC now owns 1,890,017 shares of the financial services provider’s stock valued at $96,561,000 after buying an additional 743,034 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of OneMain by 7,566.2% during the 2nd quarter. Principal Financial Group Inc. now owns 718,172 shares of the financial services provider’s stock worth $34,824,000 after acquiring an additional 708,804 shares during the period. Finally, Argent Capital Management LLC boosted its position in shares of OneMain by 608.1% during the 1st quarter. Argent Capital Management LLC now owns 503,613 shares of the financial services provider’s stock worth $25,730,000 after acquiring an additional 432,492 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Company Profile

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.