Analysts Set OneMain Holdings, Inc. (NYSE:OMF) Price Target at $60.50

OneMain Holdings, Inc. (NYSE:OMF) has been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $60.50.

A number of equities analysts have recently commented on the company. JMP Securities cut their price target on OneMain from $65.00 to $63.00 and set a “market outperform” rating for the company in a report on Monday, October 13th. Wells Fargo & Company started coverage on OneMain in a research report on Monday, August 25th. They issued an “equal weight” rating on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 price objective (down previously from $63.00) on shares of OneMain in a research report on Tuesday, October 7th. Finally, Barclays increased their price objective on OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th.

Insider Activity

In related news, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the sale, the chief executive officer owned 275,100 shares in the company, valued at approximately $16,360,197. This trade represents a 11.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On OneMain

Large investors have recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new stake in OneMain during the first quarter valued at about $27,000. SVB Wealth LLC purchased a new stake in OneMain during the first quarter valued at about $34,000. Bayforest Capital Ltd raised its position in OneMain by 591.8% during the third quarter. Bayforest Capital Ltd now owns 671 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 574 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in OneMain during the first quarter valued at about $42,000. Finally, Headlands Technologies LLC purchased a new stake in OneMain during the first quarter valued at about $46,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

OneMain Price Performance

OneMain stock opened at $57.10 on Friday. OneMain has a one year low of $38.00 and a one year high of $63.24. The business has a fifty day moving average price of $58.46 and a 200-day moving average price of $54.83. The firm has a market capitalization of $6.79 billion, a P/E ratio of 10.31, a PEG ratio of 0.45 and a beta of 1.32.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.20. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $1.02 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts expect that OneMain will post 6.46 earnings per share for the current fiscal year.

About OneMain

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.