JMP Securities Boosts OneMain (NYSE:OMF) Price Target to $62.00

OneMain (NYSE:OMF) had its target price increased by stock analysts at JMP Securities from $60.00 to $62.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the financial services provider’s stock. JMP Securities’ price target would indicate a potential upside of 24.20% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Wells Fargo & Company reduced their target price on shares of OneMain from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday, October 14th. StockNews.com lowered shares of OneMain from a “buy” rating to a “hold” rating in a report on Saturday, October 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 price target on shares of OneMain in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on OneMain from $64.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Northland Securities boosted their target price on OneMain from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, OneMain currently has a consensus rating of “Moderate Buy” and an average price target of $54.85.

OneMain Stock Performance

Shares of NYSE:OMF traded down $2.00 on Thursday, hitting $49.92. The stock had a trading volume of 1,041,210 shares, compared to its average volume of 999,358. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 0.89 and a beta of 1.56. The firm’s 50 day moving average price is $47.08 and its 200-day moving average price is $48.32. OneMain has a twelve month low of $35.53 and a twelve month high of $54.94.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.12. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.63%. During the same quarter last year, the business posted $1.01 earnings per share. As a group, sell-side analysts predict that OneMain will post 4.91 EPS for the current year.

Insider Buying and Selling at OneMain

In other news, 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 value of $694,500.00. Following the completion of the sale, the chief executive officer now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Douglas H. Shulman sold 15,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was 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 in the company, valued at approximately $19,560,546.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 1,614 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $50.00, for a total value of $80,700.00. Following the completion of the transaction, the chief operating officer now owns 110,411 shares in the company, valued at $5,520,550. 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 ninety days. 0.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clearbridge Investments LLC grew its holdings in shares of OneMain by 64.8% during 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 purchasing an additional 743,034 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of OneMain during the second quarter worth $608,000. Swedbank AB acquired a new position in shares of OneMain during the first quarter worth $817,000. Argent Capital Management LLC lifted its stake in shares of OneMain by 33.6% in the 2nd quarter. Argent Capital Management LLC now owns 672,952 shares of the financial services provider’s stock valued at $32,631,000 after acquiring an additional 169,339 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in OneMain by 13.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 271 shares during the last quarter. 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.