OneMain (NYSE:OMF) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

OneMain (NYSE:OMF - Free Report) had its price target upped by Wells Fargo & Company from $53.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider's stock.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Northland Capmk upgraded OneMain from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Evercore ISI initiated coverage on OneMain in a research report on Tuesday, March 25th. They issued an "in-line" rating and a $58.00 price target on the stock. Barclays lifted their price objective on OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $65.00 price objective on shares of OneMain in a report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.78.

OneMain Stock Performance

Shares of OMF traded up $0.30 during midday trading on Tuesday, hitting $57.83. 866,481 shares of the stock were exchanged, compared to its average volume of 1,068,154. OneMain has a 52-week low of $38.00 and a 52-week high of $60.12. The stock has a fifty day simple moving average of $54.22 and a 200 day simple moving average of $52.00. The firm has a market cap of $6.88 billion, a P/E ratio of 12.23, a P/E/G ratio of 0.49 and a beta of 1.32.

OneMain (NYSE:OMF - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.16 billion. OneMain had a return on equity of 19.30% and a net margin of 11.06%. The company's quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business posted $1.45 earnings per share. As a group, equities research analysts forecast that OneMain will post 6.46 EPS for the current fiscal year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 7.19%. The ex-dividend date was Friday, May 9th. OneMain's dividend payout ratio (DPR) is 87.95%.

Insider Activity at OneMain

In other news, CEO Douglas H. Shulman sold 20,000 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer owned 323,925 shares of the company's stock, valued at $17,025,498. The trade was a 5.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Micah R. Conrad sold 3,000 shares of the business's stock in a transaction that occurred 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 directly owned 98,007 shares in the company, valued at $5,880,420. This trade represents a 2.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock worth $5,082,190 in the last three months. Corporate insiders own 0.40% of the company's stock.

Institutional Investors Weigh In On OneMain

A number of institutional investors and hedge funds have recently bought and sold shares of OMF. Alpine Bank Wealth Management purchased a new stake in OneMain in the 1st quarter valued at approximately $27,000. SVB Wealth LLC purchased a new stake in OneMain in the 1st quarter valued at approximately $34,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in OneMain in the 1st quarter valued at approximately $42,000. Headlands Technologies LLC purchased a new stake in OneMain in the 1st quarter valued at approximately $46,000. Finally, GAMMA Investing LLC lifted its stake 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 buying an additional 662 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.