OneMain (NYSE:OMF) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered OneMain’s price target from $60 to $52 and maintained an “underweight” rating, implying roughly 7.28% downside from the stock’s $56.08 trading price.
• Despite JPMorgan’s bearish view, analyst sentiment overall remains positive: OneMain has a “Moderate Buy” consensus rating and an average price target of $67.27.
• OneMain beat quarterly earnings expectations, reporting $1.31 in EPS versus the $1.26 consensus and $1.62 billion in revenue, up 6.7% year over year; however, two senior executives recently sold shares.

OneMain (NYSE:OMF - Get Free Report) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $60.00 to $52.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an "underweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target would suggest a potential downside of 7.28% from the stock's current price.

A number of other equities analysts have also recently weighed in on the company. Citizens Jmp boosted their price target on OneMain from $68.00 to $70.00 and gave the stock a "market outperform" rating in a report on Thursday, July 30th. Evercore set a $60.00 target price on shares of OneMain in a report on Thursday, October 1st. Royal Bank Of Canada raised their price target on shares of OneMain from $70.00 to $73.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Bank of America cut their price objective on shares of OneMain from $71.00 to $67.00 and set a "buy" rating for the company in a research report on Monday, September 28th. Finally, Citigroup restated a "market outperform" rating on shares of OneMain in a research report on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $67.27.

OneMain Trading Up 0.0%

Shares of OMF traded up $0.01 during trading hours on Monday, reaching $56.08. The company had a trading volume of 286,272 shares, compared to its average volume of 1,229,832. OneMain has a 12-month low of $45.78 and a 12-month high of $71.93. The firm 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 price-to-earnings ratio of 8.44, a PEG ratio of 0.45 and a beta of 1.24.

OneMain (NYSE:OMF - Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The company had revenue of $1.62 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the business posted $1.45 earnings per share. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. Sell-side analysts forecast that OneMain will post 6.75 earnings per share for the current year.

Insider Activity at OneMain

In other OneMain news, SVP Michael A. Hedlund sold 2,500 shares of OneMain stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,000.00. Following the transaction, the senior vice president owned 10,627 shares in the company, valued at $680,128. This trade represents a 19.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the chief operating officer owned 91,250 shares in the company, valued at approximately $5,967,750. This trade represents a 5.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.29% of the company's stock.

Institutional Trading of OneMain

A number of institutional investors and hedge funds have recently made changes to their positions in OMF. GK Wealth Management LLC acquired a new stake in shares of OneMain during the 3rd quarter valued at $45,000. Freestone Grove Partners LP acquired a new position in shares of OneMain in the 2nd quarter worth $61,000. Parkside Financial Bank & Trust grew its holdings in shares of 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 acquiring an additional 246 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of OneMain by 37.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,180 shares of the financial services provider's stock worth $63,000 after acquiring an additional 320 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of OneMain during the second quarter worth $73,000. 85.82% of the stock is currently 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.

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