JPMorgan Chase & Co. Has Lowered Expectations for OneMain (NYSE:OMF) Stock Price

OneMain (NYSE:OMF) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $59.00 to $58.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 10.06% from the stock’s previous close.

A number of other equities analysts have also weighed in on OMF. Stephens initiated coverage on OneMain in a research report on Wednesday, November 13th. They set an “overweight” rating and a $62.00 target price on the stock. StockNews.com downgraded OneMain from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Barclays downgraded shares of OneMain from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $52.00 to $46.00 in a report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and set a $58.00 price target on shares of OneMain in a report on Wednesday, October 16th. Finally, JMP Securities boosted their target price on OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

OneMain Stock Up 0.2 %

OneMain stock traded up $0.12 during mid-day trading on Tuesday, hitting $52.70. 233,608 shares of the stock were exchanged, compared to its average volume of 747,558. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 0.69 and a beta of 1.58. OneMain has a 12 month low of $41.70 and a 12 month high of $57.97. The firm’s fifty day simple moving average is $54.41 and its two-hundred day simple moving average is $50.16.

Insider Buying and Selling at OneMain

In other OneMain news, SVP Michael A. Hedlund sold 1,992 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total value of $103,584.00. Following the completion of the transaction, the senior vice president now owns 18,955 shares in the company, valued at $985,660. This trade represents a 9.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas H. Shulman sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total value of $1,083,800.00. Following the sale, the chief executive officer now owns 392,474 shares in the company, valued at approximately $21,268,166.06. This represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,492 shares of company stock valued at $1,582,384 over the last three months. 0.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Legend Financial Advisors Inc. bought a new stake in OneMain during the fourth quarter valued at approximately $26,000. FNY Investment Advisers LLC bought a new stake in shares of OneMain during the 4th quarter worth $26,000. Continuum Advisory LLC purchased a new position in OneMain in the third quarter worth $28,000. Blue Trust Inc. increased its stake in OneMain by 64.1% in the third quarter. Blue Trust Inc. now owns 1,219 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 476 shares during the last quarter. Finally, Abich Financial Wealth Management LLC raised its position in OneMain by 27.4% during the second quarter. Abich Financial Wealth Management LLC now owns 1,227 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 264 shares in the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

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.