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

OneMain (NYSE:OMF) had its price target dropped by analysts at JPMorgan Chase & Co. from $60.00 to $52.00 in a report released on Monday, Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 7.28% from the stock’s current price.

Several other equities analysts have also recently weighed in on OMF. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of OneMain in a research report on Friday, July 10th. Barclays reduced their target price on OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, July 7th. Evercore set a $60.00 target price on OneMain in a research report on Thursday, October 1st. Citigroup reiterated a “market outperform” rating on shares of OneMain in a report on Thursday, July 30th. Finally, Truist Financial upped their price target on OneMain from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.27.

OneMain Stock Up 0.0%

Shares of OneMain stock traded up $0.01 during trading on Monday, hitting $56.08. The stock had a trading volume of 286,272 shares, compared to its average volume of 1,229,832. The stock has a 50 day simple moving average of $61.46 and a 200 day simple moving average of $58.61. The company has a market capitalization of $6.45 billion, a PE ratio of 8.44, a P/E/G ratio of 0.45 and a beta of 1.24. OneMain has a 1 year low of $45.78 and a 1 year high of $71.93.

OneMain (NYSE:OMF) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.05. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.28 billion. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.45 earnings per share. As a group, equities analysts expect that OneMain will post 6.75 earnings per share for the current fiscal year.

Insider Activity at OneMain

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $65.40, for a total transaction of $327,000.00. Following the completion of the sale, the chief operating officer owned 91,250 shares of the company’s stock, valued at $5,967,750. This trade represents a 5.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael A. Hedlund sold 2,500 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total transaction of $160,000.00. Following the transaction, the senior vice president owned 10,627 shares in the company, valued at approximately $680,128. This represents a 19.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OneMain

A number of hedge funds have recently modified their holdings of OMF. New York State Teachers Retirement System grew its stake in OneMain by 1.7% in the first quarter. New York State Teachers Retirement System now owns 11,131 shares of the financial services provider’s stock valued at $595,000 after purchasing an additional 189 shares in the last quarter. Parkside Financial Bank & Trust increased its position in OneMain by 32.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,011 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 246 shares during the last quarter. Ariadne Wealth Management LP raised its stake in shares of OneMain by 7.3% during the 1st quarter. Ariadne Wealth Management LP now owns 3,763 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 255 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of OneMain by 0.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 59,206 shares of the financial services provider’s stock worth $3,609,000 after purchasing an additional 280 shares in the last quarter. Finally, Aviance Capital Partners LLC raised its stake in shares of OneMain by 0.9% during the 1st quarter. Aviance Capital Partners LLC now owns 33,293 shares of the financial services provider’s stock worth $1,781,000 after purchasing an additional 287 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

OneMain Company Profile

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company focused on providing personal loans to customers in the United States. Its products are primarily unsecured and secured installment loans designed for purposes such as debt consolidation, home improvements, unexpected expenses and major purchases.

OneMain also offers optional insurance products and other ancillary services related to its lending activities. The company serves customers through a combination of local branches, online platforms and digital application tools, supporting borrowers who may not be served by traditional banks.

OneMain’s history traces back to consumer-finance operations established in the early 20th century.