OneMain (NYSE:OMF) Given New $71.00 Price Target at Truist Financial

Key Points

• Truist Financial raised OneMain’s price target to $71 from $70 and maintained a “buy” rating, implying about 13.66% upside. Analysts overall have a “Moderate Buy” consensus rating with an average target of $68.10.
• OneMain reported quarterly EPS of $1.31, exceeding the $1.26 consensus estimate, while revenue reached $1.62 billion, up 6.7% year over year and above expectations.
• Company insiders recently sold shares under pre-arranged Rule 10b5-1 plans, while institutional investors own approximately 85.82% of OneMain’s stock.

OneMain (NYSE:OMF - Get Free Report) had its target price hoisted by equities research analysts at Truist Financial from $70.00 to $71.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. Truist Financial's target price points to a potential upside of 13.66% from the company's current price.

Several other analysts also recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of OneMain from $70.00 to $65.00 and set an "equal weight" rating on the stock in a report on Thursday, April 9th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of OneMain in a research note on Thursday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of OneMain in a research report on Friday, July 10th. Weiss Ratings restated a "buy (b-)" rating on shares of OneMain in a research report on Tuesday, July 7th. Finally, TD Cowen lifted their price objective on OneMain from $66.00 to $68.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.10.

OneMain Price Performance

OMF traded down $0.47 during trading on Thursday, reaching $62.47. 192,333 shares of the stock were exchanged, compared to its average volume of 1,342,510. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 0.47 and a beta of 1.22. OneMain has a 1 year low of $45.78 and a 1 year high of $71.93. The business's 50 day moving average price is $57.96 and its two-hundred day moving average price is $57.71.

OneMain (NYSE:OMF - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.05. OneMain had a return on equity of 24.24% and a net margin of 14.38%.The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted $1.45 EPS. The business's revenue was up 6.7% on a year-over-year basis. On average, analysts anticipate that OneMain will post 7.14 EPS for the current year.

Insider Buying and Selling at OneMain

In other news, SVP Michael A. Hedlund sold 1,848 shares of the firm's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $62.00, for a total value of $114,576.00. Following the transaction, the senior vice president directly owned 13,127 shares in the company, valued at approximately $813,874. This trade represents a 12.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 dated Monday, June 29th. The shares were sold at an average price of $62.00, for a total transaction of $310,000.00. Following the completion of the transaction, the chief operating officer directly owned 96,250 shares of the company's stock, valued at $5,967,500. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.29% of the company's stock.

Hedge Funds Weigh In On OneMain

Large investors have recently bought and sold shares of the business. Csenge Advisory Group boosted its position in OneMain by 4.1% during the 4th quarter. Csenge Advisory Group now owns 4,239 shares of the financial services provider's stock valued at $286,000 after purchasing an additional 167 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of OneMain by 4.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,075 shares of the financial services provider's stock valued at $275,000 after acquiring an additional 174 shares during the period. Geneos Wealth Management Inc. grew its position in shares of OneMain by 9.1% during the second quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider's stock worth $120,000 after acquiring an additional 176 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of OneMain by 1.7% in the 1st quarter. New York State Teachers Retirement System now owns 11,131 shares of the financial services provider's stock worth $595,000 after acquiring an additional 189 shares during the period. Finally, Generali Asset Management SPA SGR increased its holdings in shares of OneMain by 5.9% in the 4th quarter. Generali Asset Management SPA SGR now owns 3,413 shares of the financial services provider's stock worth $231,000 after acquiring an additional 190 shares during the period. Institutional investors own 85.82% of the company's stock.

OneMain News Roundup

Here are the key news stories impacting OneMain this week:

• Positive Sentiment: Citizens JMP raised its price target to $70 from $68 and maintained a “market outperform” rating, implying approximately 12.5% upside from the referenced share price. TickerReport article
• Positive Sentiment: OneMain declared a quarterly dividend of $1.05 per share, payable August 14 to shareholders of record August 10. The annualized payout implies a dividend yield of roughly 6.7%, which may attract income-focused investors. OneMain second-quarter results
• Neutral Sentiment: Second-quarter revenue and managed receivables showed continued business growth. Revenue was reported at approximately $1.62 billion, up 6.7% year over year, while managed receivables reached $26.9 billion. OneMain second-quarter results
• Negative Sentiment: Profitability declined from the prior-year quarter. Second-quarter net income fell to $152 million from $167 million, while diluted EPS declined to $1.32 from $1.40. Management’s earnings discussion also highlighted growth occurring amid elevated credit costs, a potential concern for a nonprime consumer lender. TipRanks earnings-call article

About OneMain

OneMain Financial NYSE: OMF is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.

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