Wells Fargo & Company Lowers OneMain (NYSE:OMF) Price Target to $53.00

OneMain (NYSE:OMF) had its price objective dropped by equities researchers at Wells Fargo & Company from $57.00 to $53.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 11.46% from the company’s current price.

Other equities analysts have also issued reports about the company. Stephens restated an “overweight” rating and issued a $62.00 target price on shares of OneMain in a research note on Monday, February 3rd. Northland Capmk upgraded shares of OneMain from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. JMP Securities reiterated a “market outperform” rating and set a $65.00 target price on shares of OneMain in a research report on Wednesday. StockNews.com raised shares of OneMain from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada lifted their price objective on shares of OneMain from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.64.

OneMain Trading Up 1.0 %

Shares of OneMain stock opened at $47.55 on Wednesday. The company’s 50-day moving average price is $47.57 and its 200-day moving average price is $51.72. OneMain has a 12-month low of $38.00 and a 12-month high of $58.90. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 0.44 and a beta of 1.35.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.55 by $0.17. The firm had revenue of $188.00 million during the quarter, compared to the consensus estimate of $1.16 billion. OneMain had a net margin of 10.19% and a return on equity of 18.39%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $1.45 EPS. On average, sell-side analysts predict that OneMain will post 6.46 earnings per share for the current year.

Insider Buying and Selling at OneMain

In related news, SVP Michael A. Hedlund sold 2,808 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $56.09, for a total transaction of $157,500.72. Following the completion of the sale, the senior vice president now directly owns 15,831 shares in the company, valued at $887,960.79. This represents a 15.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas H. Shulman sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $50.00, for a total value of $2,000,000.00. Following the transaction, the chief executive officer now owns 368,925 shares in the company, valued at approximately $18,446,250. The trade was a 9.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,808 shares of company stock worth $3,344,751 over the last three months. Company insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On OneMain

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new position in shares of OneMain in the fourth quarter valued at about $26,000. Albion Financial Group UT bought a new stake in shares of OneMain in the fourth quarter worth about $26,000. Legend Financial Advisors Inc. bought a new position in OneMain during the 4th quarter valued at approximately $26,000. Alpine Bank Wealth Management purchased a new stake in OneMain in the 1st quarter worth approximately $27,000. Finally, IFP Advisors Inc grew its position in shares of OneMain by 180.0% in the 4th quarter. IFP Advisors Inc now owns 770 shares of the financial services provider’s stock worth $40,000 after buying an additional 495 shares during the last quarter. 85.82% of the stock is currently owned by 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.