OneMain (NYSE:OMF) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised OneMain’s price target from $52 to $56 but maintained an “underweight” rating, implying about 1% downside from the prior close.
• Analyst sentiment remains broadly positive: nine analysts rate the stock “Buy,” three rate it “Hold,” and one rates it “Sell,” producing a “Moderate Buy” consensus and average target of $67.36.
• OneMain’s latest quarterly results were mixed, with $1.51 in adjusted EPS below the $1.56 consensus estimate, while revenue of $1.70 billion exceeded expectations of $1.34 billion.

OneMain (NYSE:OMF - Get Free Report) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $52.00 to $56.00 in a report issued on Monday, Benzinga reports. The firm currently has an "underweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 1.04% from the company's previous close.

OMF has been the topic of several other research reports. Bank of America dropped their price target on OneMain from $67.00 to $66.00 and set a "buy" rating on the stock in a research report on Monday. Truist Financial increased their price objective on OneMain from $70.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Evercore set a $60.00 target price on OneMain in a report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of OneMain in a research note on Friday, July 10th. Finally, TD Cowen dropped their price objective on shares of OneMain from $68.00 to $66.00 and set a "buy" rating on the stock in a research note on Tuesday, October 6th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $67.36.

OneMain Stock Up 0.1%

NYSE:OMF traded up $0.04 during trading hours on Monday, reaching $56.59. 49,009 shares of the company's stock were exchanged, compared to its average volume of 1,207,766. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 8.61, a P/E/G ratio of 0.64 and a beta of 1.24. The company has a 50-day moving average of $59.02 and a 200 day moving average of $58.46. OneMain has a 1-year low of $45.78 and a 1-year high of $71.93.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The financial services provider reported $1.51 EPS for the quarter, missing analysts' consensus estimates of $1.56 by ($0.05). The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.34 billion. OneMain had a net margin of 13.43% and a return on equity of 21.91%. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Research analysts forecast that OneMain will post 6.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other OneMain news, COO Micah Conrad sold 5,000 shares of OneMain stock in a transaction dated 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 transaction, the chief operating officer owned 91,250 shares in the company, valued at approximately $5,967,750. The trade was a 5.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company's stock.

Institutional Investors Weigh In On OneMain

A number of institutional investors and hedge funds have recently bought and sold shares of OMF. BlackRock Inc. acquired a new position in shares of OneMain in the second quarter worth $633,893,000. Dimensional Fund Advisors LP boosted its stake in shares of OneMain by 7.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,342,241 shares of the financial services provider's stock valued at $232,258,000 after acquiring an additional 308,370 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of OneMain during the second quarter valued at $166,060,000. State Street Corp increased its position in OneMain by 1.8% during the 2nd quarter. State Street Corp now owns 2,451,937 shares of the financial services provider's stock worth $149,495,000 after purchasing an additional 42,917 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in OneMain by 7.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,729,862 shares of the financial services provider's stock worth $146,030,000 after purchasing an additional 195,591 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

About OneMain

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company that provides personal lending and related financial services primarily to non-prime consumers in the United States. The company serves customers through a combination of branch locations, online and mobile channels, and centralized customer service operations.

OneMain's principal products include secured and unsecured personal loans, which customers may use for debt consolidation, home improvements, major purchases, and other personal expenses.

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