TD Cowen Issues Pessimistic Forecast for OneMain (NYSE:OMF) Stock Price

Key Points

• TD Cowen lowered OneMain’s price target from $68 to $66 while maintaining a “buy” rating, implying approximately 17.3% upside from the prior close.
• Analyst sentiment remains broadly positive: nine analysts rate the stock a Buy, three a Hold and one a Sell, producing a “Moderate Buy” consensus and average target of $67.55.
• OneMain reported quarterly EPS of $1.31, beating estimates of $1.26, while revenue rose 6.7% year over year to $1.62 billion. Shares recently traded at $56.26, below both the consensus target and their 50-day moving average.

OneMain (NYSE:OMF - Get Free Report) had its price objective dropped by analysts at TD Cowen from $68.00 to $66.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. TD Cowen's price target points to a potential upside of 17.31% from the company's previous close.

OMF has been the topic of a number of other reports. Evercore set a $60.00 target price on OneMain in a research report on Thursday. Citigroup reiterated a "market outperform" rating on shares of OneMain in a research note on Thursday, July 30th. Barclays decreased their price objective on shares of OneMain from $61.00 to $60.00 and set an "equal weight" rating for the company in a report on Tuesday, July 7th. Bank of America dropped their target price 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, Truist Financial upped their target price on shares of OneMain from $70.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, OneMain has an average rating of "Moderate Buy" and a consensus price target of $67.55.

OneMain Stock Up 0.0%

Shares of OneMain stock traded up $0.02 during trading hours on Tuesday, hitting $56.26. 61,818 shares of the company's stock traded hands, compared to its average volume of 1,237,926. The stock has a 50 day simple moving average of $62.00 and a 200-day simple moving average of $58.47. The company has a market cap of $6.47 billion, a PE ratio of 8.48, a PEG ratio of 0.45 and a beta of 1.24. OneMain has a twelve month low of $45.78 and a twelve month high of $71.93.

OneMain (NYSE:OMF - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.26 by $0.05. The business had revenue of $1.62 billion for the quarter, compared to analysts' expectations of $1.28 billion. OneMain had a return on equity of 23.49% and a net margin of 13.92%.The company's revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.45 earnings per share. As a group, equities research analysts predict that OneMain will post 6.83 EPS for the current year.

Insider Buying and Selling at OneMain

In other OneMain news, SVP Michael Hedlund sold 2,500 shares of the 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 sale, the senior vice president directly owned 10,627 shares of the company's stock, valued at approximately $680,128. This represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah Conrad sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was 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. Additional details regarding this sale are available in the official SEC disclosure. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On OneMain

Several institutional investors and hedge funds have recently bought and sold shares of the business. CX Institutional bought a new position in OneMain in the third quarter worth about $4,874,000. QRG Capital Management Inc. grew its holdings in shares of OneMain by 10.4% during the second quarter. QRG Capital Management Inc. now owns 53,192 shares of the financial services provider's stock valued at $3,243,000 after purchasing an additional 5,025 shares during the last quarter. Envestnet Asset Management Inc. raised its position 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 during the period. State Street Corp lifted its holdings in shares of OneMain by 1.8% in 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 during the last quarter. Finally, Cidel Asset Management Inc. bought a new stake in shares of OneMain in the 2nd quarter worth approximately $213,000. Institutional investors and hedge funds own 85.82% of the company's stock.

About OneMain

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.