OneMain (NYSE:OMF) Now Covered by Wells Fargo & Company

Key Points

• Wells Fargo & Company has assumed coverage of OneMain (NYSE:OMF), rating it as "equal weight" with a price target of $60.00.
• JPMorgan and Barclays have both raised their price targets for OneMain, with JPMorgan setting it at $63.00 and Barclays at $56.00. This reflects a general optimism among analysts, as the stock has a consensus rating of "Moderate Buy."
• OneMain reported a Q2 EPS of $1.45, exceeding expectations, with revenue of $1.20 billion, marking a 7.1% increase compared to the previous year.

Equities research analysts at Wells Fargo & Company initiated coverage on shares of OneMain (NYSE:OMF - Get Free Report) in a research note issued on Monday. The firm set an "equal weight" rating on the financial services provider's stock.

Several other equities research analysts have also recently issued reports on OMF. Barclays raised their target price on OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. lifted their target price on shares of OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, JMP Securities reissued a "market outperform" rating and issued a $65.00 target price on shares of OneMain in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.50.

OneMain Price Performance

OMF traded up $0.26 on Monday, reaching $61.85. 642,396 shares of the company's stock were exchanged, compared to its average volume of 853,194. OneMain has a twelve month low of $38.00 and a twelve month high of $62.02. The stock has a market cap of $7.35 billion, a PE ratio of 11.16, a P/E/G ratio of 0.48 and a beta of 1.29. The stock's fifty day moving average price is $58.04 and its 200-day moving average price is $52.70.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.20. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the company posted $1.02 EPS. The company's revenue was up 7.1% compared to the same quarter last year. As a group, research analysts predict that OneMain will post 6.46 earnings per share for the current fiscal year.

Insider Buying and Selling at OneMain

In other news, CEO Douglas H. Shulman sold 35,000 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the transaction, the chief executive officer owned 275,100 shares in the company, valued at approximately $16,360,197. This represents a 11.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Micah R. Conrad sold 4,000 shares of OneMain stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.02, for a total value of $232,080.00. Following the transaction, the chief operating officer directly owned 101,007 shares in the company, valued at approximately $5,860,426.14. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,000 shares of company stock worth $3,715,340 in the last three months. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Alpine Bank Wealth Management acquired a new stake in OneMain in the 1st quarter valued at about $27,000. SVB Wealth LLC purchased a new stake in OneMain during the 1st quarter worth about $34,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in OneMain by 79.4% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 820 shares of the financial services provider's stock worth $47,000 after purchasing an additional 363 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in OneMain in the 1st quarter valued at about $42,000. Finally, Golden State Wealth Management LLC lifted its holdings in OneMain by 2,940.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 912 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 882 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

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.