OneMain (NYSE:OMF) Price Target Cut to $55.00 by Analysts at JPMorgan Chase & Co.

OneMain (NYSE:OMF) had its price objective cut by JPMorgan Chase & Co. from $63.00 to $55.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 2.27% from the company’s previous close.

A number of other research firms have also commented on OMF. Stephens lowered their price target on OneMain to $76.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Wells Fargo & Company decreased their target price on OneMain from $70.00 to $65.00 and set an “equal weight” rating for the company in a research report on Thursday. Royal Bank Of Canada increased their target price on OneMain from $70.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Evercore set a $55.00 target price on OneMain in a research report on Tuesday, March 17th. Finally, TD Cowen reissued a “buy” rating on shares of OneMain in a research report on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, OneMain currently has an average rating of “Moderate Buy” and a consensus price target of $67.44.

OneMain Price Performance

OMF stock traded up $0.27 during mid-day trading on Thursday, hitting $56.28. 856,026 shares of the stock were exchanged, compared to its average volume of 1,590,788. OneMain has a 12 month low of $41.40 and a 12 month high of $71.93. The business has a fifty day moving average price of $55.94 and a 200 day moving average price of $59.92. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 0.40 and a beta of 1.30.

OneMain (NYSE:OMF) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.04. OneMain had a return on equity of 23.76% and a net margin of 14.35%.The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company posted $1.16 EPS. As a group, equities analysts forecast that OneMain will post 6.46 EPS for the current fiscal year.

Insider Buying and Selling at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $58.00, for a total value of $290,000.00. Following the sale, the chief operating officer owned 106,250 shares in the company, valued at $6,162,500. This represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.40% of the stock is owned by insiders.

Institutional Trading of OneMain

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Csenge Advisory Group grew its stake in shares of OneMain by 4.1% in the 4th quarter. Csenge Advisory Group now owns 4,239 shares of the financial services provider’s stock worth $286,000 after buying an additional 167 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of OneMain by 4.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,075 shares of the financial services provider’s stock worth $275,000 after buying an additional 174 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of OneMain by 9.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider’s stock worth $120,000 after buying an additional 176 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in shares of OneMain by 3.9% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,710 shares of the financial services provider’s stock worth $266,000 after buying an additional 177 shares during the last quarter. Finally, Generali Asset Management SPA SGR boosted its stake in OneMain by 5.9% during the 4th quarter. Generali Asset Management SPA SGR now owns 3,413 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 190 shares during 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.