JMP Securities Raises OneMain (NYSE:OMF) Price Target to $62.00

OneMain (NYSE:OMF) had its price target raised by JMP Securities from $57.00 to $62.00 in a report released on Wednesday, Benzinga reports. JMP Securities currently has a market outperform rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the stock. Royal Bank of Canada raised their price target on shares of OneMain from $50.00 to $55.00 and gave the company an outperform rating in a research note on Monday, April 1st. StockNews.com upgraded OneMain from a hold rating to a buy rating in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on OneMain in a research report on Wednesday, January 10th. They set a buy rating and a $68.00 price target for the company. Piper Sandler lowered OneMain from an overweight rating to a neutral rating and decreased their price objective for the company from $55.00 to $49.00 in a report on Thursday, February 8th. Finally, Stephens lowered their target price on shares of OneMain from $61.00 to $57.00 and set an overweight rating on the stock in a research note on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $53.31.

OneMain Price Performance

Shares of OMF stock opened at $50.77 on Wednesday. The stock has a 50 day simple moving average of $48.87 and a 200-day simple moving average of $45.58. OneMain has a 1-year low of $33.67 and a 1-year high of $53.65. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 0.72 and a beta of 1.63.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.07. OneMain had a net margin of 13.29% and a return on equity of 20.94%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $907.93 million. During the same period in the prior year, the business posted $1.46 earnings per share. Analysts anticipate that OneMain will post 5.67 earnings per share for the current fiscal year.

OneMain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 8.19%. This is a positive change from OneMain’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, May 9th. OneMain’s payout ratio is presently 77.97%.

Hedge Funds Weigh In On OneMain

Hedge funds have recently modified their holdings of the business. Quantbot Technologies LP acquired a new position in OneMain in the third quarter valued at about $26,000. Blue Trust Inc. boosted its position in shares of OneMain by 49.9% during the 4th quarter. Blue Trust Inc. now owns 730 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 243 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stake in OneMain in the 4th quarter valued at approximately $36,000. Operose Advisors LLC purchased a new stake in OneMain in the third quarter valued at approximately $40,000. Finally, Allworth Financial LP raised its position in OneMain by 368.4% in the third quarter. Allworth Financial LP now owns 1,068 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 840 shares during the period. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

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.