JPMorgan Chase & Co. Raises OneMain (NYSE:OMF) Price Target to $54.00

OneMain (NYSE:OMFFree Report) had its target price upped by JPMorgan Chase & Co. from $52.00 to $54.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on OMF. BMO Capital Markets upped their price target on shares of OneMain from $48.00 to $50.00 and gave the company a market perform rating in a research note on Thursday, May 2nd. BTIG Research initiated coverage on shares of OneMain in a research note on Friday, June 7th. They set a neutral rating on the stock. Royal Bank of Canada upped 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. TD Cowen upped their price target on shares of OneMain from $58.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Finally, JMP Securities cut their price target on shares of OneMain from $62.00 to $59.00 and set a market outperform rating on the stock in a research note on Tuesday, June 4th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $54.25.

Read Our Latest Stock Analysis on OneMain

OneMain Stock Up 1.0 %

NYSE OMF opened at $47.49 on Monday. The firm has a market cap of $5.69 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 0.72 and a beta of 1.58. The company has a 50 day moving average price of $48.89 and a 200 day moving average price of $48.48. OneMain has a 52 week low of $35.00 and a 52 week high of $53.65.

OneMain (NYSE:OMFGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.38 by $0.07. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $907.93 million. OneMain had a net margin of 13.29% and a return on equity of 20.78%. During the same quarter in the previous year, the business posted $1.46 EPS. On average, equities research analysts anticipate that OneMain will post 5.51 earnings per share for the current fiscal year.

OneMain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is an increase from OneMain’s previous quarterly dividend of $1.00. This represents a $4.16 dividend on an annualized basis and a yield of 8.76%. OneMain’s dividend payout ratio is 81.09%.

Insider Buying and Selling

In related news, CEO Douglas H. Shulman sold 19,000 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $51.37, for a total transaction of $976,030.00. Following the sale, the chief executive officer now directly owns 451,300 shares of the company’s stock, valued at $23,183,281. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Douglas H. Shulman sold 19,000 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $51.37, for a total transaction of $976,030.00. Following the sale, the chief executive officer now directly owns 451,300 shares of the company’s stock, valued at $23,183,281. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael A. Hedlund sold 3,000 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $48.10, for a total transaction of $144,300.00. Following the transaction, the senior vice president now directly owns 28,147 shares in the company, valued at $1,353,870.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,500 shares of company stock valued at $1,500,055. Corporate insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On OneMain

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC lifted its holdings in OneMain by 46.1% during the first quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 304 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in OneMain by 7.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 6,287 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 431 shares in the last quarter. Cetera Advisors LLC purchased a new position in OneMain during the first quarter valued at $493,000. Burney Co. lifted its holdings in OneMain by 35.6% during the first quarter. Burney Co. now owns 26,812 shares of the financial services provider’s stock valued at $1,370,000 after purchasing an additional 7,033 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of OneMain in the first quarter valued at about $817,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

About OneMain

(Get Free Report)

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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Analyst Recommendations for OneMain (NYSE:OMF)

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