JMP Securities Cuts OneMain (NYSE:OMF) Price Target to $59.00

OneMain (NYSE:OMF) had its price objective reduced by JMP Securities from $62.00 to $59.00 in a report released on Tuesday morning, Benzinga reports. They currently have a market outperform rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on the stock. Stephens reduced their target price on shares of OneMain from $61.00 to $57.00 and set an overweight rating for the company in a research note on Thursday, February 8th. Royal Bank of Canada lifted their target price on shares of OneMain from $50.00 to $55.00 and gave the stock an outperform rating in a research note on Monday, April 1st. StockNews.com raised shares of OneMain from a hold rating to a buy rating in a research note on Wednesday, February 14th. Barclays reduced their price objective on shares of OneMain from $57.00 to $54.00 and set an overweight rating for the company in a research note on Thursday, February 8th. Finally, Citigroup reduced their price objective on shares of OneMain from $54.00 to $52.00 and set a buy rating for the company in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, OneMain currently has an average rating of Moderate Buy and a consensus target price of $54.38.

OneMain Stock Performance

Shares of OMF stock opened at $48.31 on Tuesday. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 0.71 and a beta of 1.59. OneMain has a 52 week low of $35.00 and a 52 week high of $53.65. The firm’s 50-day simple moving average is $49.41 and its two-hundred day simple moving average is $47.73.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.38 by $0.07. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $907.93 million. OneMain had a net margin of 13.29% and a return on equity of 20.78%. During the same quarter in the previous year, the firm posted $1.46 earnings per share. Analysts forecast that OneMain will post 5.57 earnings per share for the current year.

OneMain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from OneMain’s previous quarterly dividend of $1.00. This represents a $4.16 annualized dividend and a yield of 8.61%. OneMain’s payout ratio is presently 81.09%.

Insider Buying and Selling at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 19,000 shares of OneMain stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $51.37, for a total transaction of $976,030.00. Following the completion of the sale, the chief executive officer now directly owns 451,300 shares in the company, valued at $23,183,281. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Micah R. Conrad sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $50.63, for a total value of $379,725.00. Following the completion of the sale, the chief operating officer now directly owns 119,525 shares in the company, valued at approximately $6,051,550.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas H. Shulman sold 19,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $51.37, for a total transaction of $976,030.00. Following the completion of the sale, the chief executive officer now owns 451,300 shares of the company’s stock, valued at $23,183,281. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OneMain

Hedge funds have recently made changes to their positions in the business. Taylor Frigon Capital Management LLC bought a new stake in shares of OneMain in the 4th quarter worth approximately $1,649,000. Invesco Ltd. raised its holdings in OneMain by 36.5% during the 3rd quarter. Invesco Ltd. now owns 565,150 shares of the financial services provider’s stock valued at $22,657,000 after buying an additional 151,226 shares during the last quarter. Miller Howard Investments Inc. NY raised its holdings in OneMain by 659.7% during the 4th quarter. Miller Howard Investments Inc. NY now owns 105,289 shares of the financial services provider’s stock valued at $5,180,000 after buying an additional 91,429 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in OneMain by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,348,842 shares of the financial services provider’s stock valued at $66,363,000 after buying an additional 17,330 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC bought a new stake in OneMain during the 3rd quarter valued at $855,000. 85.82% of the stock is currently owned by institutional investors.

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.