OneMain (NYSE:OMF) Receives Neutral Rating from JPMorgan Chase & Co.

Key Points

• OneMain's stock receives a neutral rating from JPMorgan Chase & Co., who also reduced their target price from $63.00 to $57.00, indicating a potential upside of 2.85% from the previous close.
• The company's latest quarterly earnings showed an EPS of $1.45, exceeding expectations, with a revenue of $1.20 billion, reflecting a 7.1% increase year-over-year.
• CEO Douglas H. Shulman sold 35,000 shares of OneMain, resulting in an 11.29% decrease in his stock position, bringing the total shares he controls to approximately 275,100.

OneMain (NYSE:OMF - Get Free Report)'s stock had its "neutral" rating reiterated by stock analysts at JPMorgan Chase & Co. in a note issued to investors on Tuesday,Benzinga reports. They currently have a $57.00 target price on the financial services provider's stock, down from their prior target price of $63.00. JPMorgan Chase & Co.'s target price suggests a potential upside of 2.85% from the stock's previous close.

Other research analysts have also issued reports about the company. Barclays increased their price objective on OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company initiated coverage on OneMain in a report on Monday, August 25th. They set an "equal weight" rating for the company. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of OneMain in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $60.75.

OneMain Stock Performance

NYSE OMF opened at $55.42 on Tuesday. The business has a fifty day moving average price of $59.00 and a 200 day moving average price of $54.21. The company has a market cap of $6.59 billion, a P/E ratio of 10.00, a P/E/G ratio of 0.44 and a beta of 1.32. OneMain has a one year low of $38.00 and a one year high of $63.24.

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. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The company's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS. As a group, sell-side analysts predict that OneMain will post 6.46 EPS for the current fiscal year.

Insider Activity at OneMain

In other news, CEO Douglas H. Shulman sold 35,000 shares of the business's stock in a transaction dated 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 directly owned 275,100 shares of the company's stock, valued at approximately $16,360,197. The trade was a 11.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On OneMain

A number of hedge funds have recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in shares of OneMain during the 1st quarter worth approximately $27,000. SVB Wealth LLC purchased a new stake in shares of OneMain in the first quarter valued at $34,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of OneMain during the first quarter valued at $42,000. Headlands Technologies LLC purchased a new stake in OneMain during the 1st quarter worth about $46,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in OneMain by 79.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 820 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 363 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

OneMain Company Profile

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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