Barclays Cuts OneMain (NYSE:OMF) Price Target to $62.00

OneMain (NYSE:OMF) had its price objective reduced by Barclays from $71.00 to $62.00 in a research report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other research firms also recently weighed in on OMF. Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a research report on Monday, December 29th. Evercore set a $55.00 price objective on OneMain in a research note on Tuesday, March 17th. Wall Street Zen lowered OneMain from a “buy” rating to a “hold” rating in a report on Sunday, January 18th. Stephens cut their price target on shares of OneMain to $76.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Finally, Royal Bank Of Canada raised their price objective on shares of OneMain from $70.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.89.

OneMain Stock Up 4.1%

Shares of OMF opened at $56.06 on Monday. The firm has a market capitalization of $6.57 billion, a PE ratio of 8.53, a P/E/G ratio of 0.40 and a beta of 1.30. The firm has a 50-day moving average price of $55.94 and a 200 day moving average price of $59.92. OneMain has a 52-week low of $38.76 and a 52-week high of $71.93.

OneMain (NYSE:OMF) last released its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.04. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.28 billion. OneMain had a net margin of 14.35% and a return on equity of 23.76%. During the same period in the previous year, the firm earned $1.16 EPS. On average, equities analysts expect that OneMain will post 6.46 EPS for the current year.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Stockholders of record on Tuesday, February 17th were given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend was Tuesday, February 17th. OneMain’s dividend payout ratio is 63.93%.

Insider Activity at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. Following the completion of the sale, the chief operating officer directly owned 106,250 shares in the company, valued at approximately $6,162,500. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On OneMain

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OMF. CIBC Private Wealth Group LLC grew its holdings in shares of OneMain by 117.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 202 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of OneMain during the third quarter worth $26,000. Core Wealth Advisors LLC acquired a new stake in OneMain during the fourth quarter valued at $31,000. Atlantic Union Bankshares Corp acquired a new stake in OneMain during the fourth quarter valued at $36,000. Finally, Activest Wealth Management grew its stake in OneMain by 1,102.1% in the third quarter. Activest Wealth Management now owns 577 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 529 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

About OneMain

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.