OneMain (NYSE:OMF) Price Target Lowered to $63.00 at JMP Securities

Key Points

• OneMain's target price was lowered from $65.00 to $63.00 by JMP Securities, indicating a potential upside of 19.27% from its current price.
• A consensus rating of Moderate Buy exists for OneMain, with an average price target of $60.50 among analysts.
• Insider trading activity saw CEO Douglas H. Shulman sell 35,000 shares, reducing his stake by 11.29%, valuing remaining shares at $16.36 million.

OneMain (NYSE:OMF - Get Free Report) had its target price decreased by stock analysts at JMP Securities from $65.00 to $63.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "market outperform" rating on the financial services provider's stock. JMP Securities' price objective would suggest a potential upside of 19.27% from the company's current price.

A number of other equities analysts have also recently issued reports on OMF. Wells Fargo & Company initiated coverage on OneMain in a report on Monday, August 25th. They issued an "equal weight" rating on the stock. Barclays raised their target price on OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of OneMain in a research report on Wednesday, October 8th. Wall Street Zen downgraded OneMain from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $57.00 price target (down previously from $63.00) on shares of OneMain in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.50.

OneMain Trading Up 1.3%

NYSE OMF traded up $0.67 during trading on Monday, hitting $52.82. 116,864 shares of the company's stock were exchanged, compared to its average volume of 1,073,013. The company has a market cap of $6.28 billion, a PE ratio of 9.53, a P/E/G ratio of 0.42 and a beta of 1.32. The stock's 50 day moving average price is $58.73 and its two-hundred day moving average price is $54.28. OneMain has a fifty-two week low of $38.00 and a fifty-two week high of $63.24.

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

Insiders Place Their Bets

In related news, CEO Douglas H. Shulman sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the sale, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. The trade was a 11.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.40% of the stock is owned by insiders.

Institutional Trading of OneMain

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its stake in OneMain by 56.5% in the first 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 during the period. GAMMA Investing LLC lifted its holdings in shares of OneMain by 191.9% during the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 662 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of OneMain by 5.9% during the first 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 purchasing an additional 1,441 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of OneMain during the first quarter valued at $853,000. Finally, SG Americas Securities LLC lifted its holdings in shares of OneMain by 171.9% during the first quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider's stock valued at $532,000 after purchasing an additional 6,875 shares in the last quarter. 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.

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