Royal Bank Of Canada Has Lowered Expectations for OneMain (NYSE:OMF) Stock Price

OneMain (NYSE:OMF) had its target price dropped by analysts at Royal Bank Of Canada from $71.00 to $70.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada‘s price target points to a potential upside of 22.64% from the stock’s previous close.

OMF has been the topic of several other research reports. TD Cowen decreased their price objective on OneMain from $68.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Bank of America lowered their price objective on OneMain from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Monday. Truist Financial boosted their price objective on OneMain from $70.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Barclays reduced their target price on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, July 7th. Finally, Weiss Ratings raised shares of OneMain from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.27.

OneMain Trading Up 0.9%

OneMain stock traded up $0.53 during trading on Monday, reaching $57.08. The company had a trading volume of 111,567 shares, compared to its average volume of 1,207,944. OneMain has a 52 week low of $45.78 and a 52 week high of $71.93. The firm’s 50-day simple moving average is $59.02 and its 200 day simple moving average is $58.46. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 0.64 and a beta of 1.24.

OneMain (NYSE:OMF) last released its earnings results on Friday, October 30th. The financial services provider reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.05). OneMain had a net margin of 13.43% and a return on equity of 21.91%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm posted $1.90 earnings per share. On average, analysts predict that OneMain will post 6.73 earnings per share for the current year.

Insider Activity at OneMain

In other news, COO Micah Conrad sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total value of $327,000.00. Following the completion of the transaction, the chief operating officer owned 91,250 shares of the company’s stock, valued at $5,967,750. This represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On OneMain

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in OneMain during the second quarter valued at $633,893,000. Dimensional Fund Advisors LP boosted its holdings in shares of OneMain by 7.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,342,241 shares of the financial services provider’s stock valued at $232,258,000 after purchasing an additional 308,370 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of OneMain by 7.7% in the first quarter. Janus Henderson Group PLC now owns 2,729,862 shares of the financial services provider’s stock worth $146,030,000 after buying an additional 195,591 shares in the last quarter. Jupiter Topco LLC bought a new position in OneMain during the second quarter valued at approximately $166,060,000. Finally, State Street Corp boosted its stake in OneMain by 1.8% during the second quarter. State Street Corp now owns 2,451,937 shares of the financial services provider’s stock valued at $149,495,000 after buying an additional 42,917 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

About OneMain

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company that provides personal lending and related financial services primarily to non-prime consumers in the United States. The company serves customers through a combination of branch locations, online and mobile channels, and centralized customer service operations.

OneMain’s principal products include secured and unsecured personal loans, which customers may use for debt consolidation, home improvements, major purchases, and other personal expenses.