OneMain (NYSE:OMF) Price Target Raised to $63.00

OneMain (NYSE:OMF - Free Report) had its price objective boosted by JPMorgan Chase & Co. from $50.00 to $63.00 in a report issued on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider's stock.

Several other analysts also recently commented on OMF. Evercore ISI began coverage on OneMain in a research note on Tuesday, March 25th. They set an "in-line" rating and a $58.00 price objective on the stock. Northland Capmk upgraded OneMain from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. JMP Securities reiterated a "market outperform" rating and set a $65.00 price target on shares of OneMain in a report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on OneMain from $57.00 to $53.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Finally, Northland Securities upgraded OneMain from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, OneMain currently has an average rating of "Moderate Buy" and an average target price of $60.00.

OneMain Trading Down 1.5%

Shares of NYSE:OMF traded down $0.92 during midday trading on Friday, hitting $58.89. The company had a trading volume of 697,950 shares, compared to its average volume of 1,064,928. OneMain has a 12 month low of $38.00 and a 12 month high of $60.12. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.51 and a beta of 1.32. The firm has a fifty day simple moving average of $53.53 and a 200 day simple moving average of $51.86.

OneMain (NYSE:OMF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.55 by $0.17. The business had revenue of $188.00 million for the quarter, compared to the consensus estimate of $1.16 billion. OneMain had a return on equity of 19.30% and a net margin of 11.06%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 EPS. Equities analysts forecast that OneMain will post 6.46 EPS for the current fiscal year.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 7.06%. The ex-dividend date was Friday, May 9th. OneMain's dividend payout ratio (DPR) is currently 87.95%.

Insider Buying and Selling at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 20,000 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $52.56, for a total transaction of $1,051,200.00. Following the completion of the sale, the chief executive officer directly owned 323,925 shares in the company, valued at $17,025,498. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Micah R. Conrad sold 3,000 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $60.00, for a total value of $180,000.00. Following the sale, the chief operating officer owned 98,007 shares of the company's stock, valued at $5,880,420. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock valued at $5,082,190 over the last 90 days. Corporate insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OMF. Orion Portfolio Solutions LLC increased its holdings in OneMain by 66.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 17,681 shares of the financial services provider's stock valued at $922,000 after purchasing an additional 7,060 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of OneMain by 15.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,263 shares of the financial services provider's stock worth $222,000 after purchasing an additional 569 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of OneMain by 56.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 121,577 shares of the financial services provider's stock worth $5,966,000 after purchasing an additional 43,915 shares in the last quarter. GAMMA Investing LLC lifted its position in OneMain by 191.9% in the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 662 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in OneMain by 5.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,851 shares of the financial services provider's stock valued at $1,251,000 after acquiring an additional 1,441 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors.

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.