Wells Fargo & Company Issues Pessimistic Forecast for OneMain (NYSE:OMF) Stock Price

OneMain (NYSE:OMF – Get Free Report) had its target price dropped by research analysts at Wells Fargo & Company from $65.00 to $62.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 6.12% from the stock’s previous close.

OMF has been the topic of a number of other reports. Evercore set a $60.00 price objective on OneMain in a research note on Thursday, October 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of OneMain in a report on Friday, July 10th. Weiss Ratings upgraded OneMain from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. TD Cowen lowered their price target on shares of OneMain from $68.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Finally, Citigroup restated a “market outperform” rating on shares of OneMain in a research report on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, OneMain presently has an average rating of “Moderate Buy” and an average price target of $66.82.

Check Out Our Latest Stock Report on OneMain

OneMain Trading Up 3.3%

OneMain stock opened at $58.42 on Wednesday. OneMain has a 1-year low of $45.78 and a 1-year high of $71.93. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 0.66 and a beta of 1.30. The firm has a 50 day simple moving average of $58.78 and a 200 day simple moving average of $58.36.

OneMain (NYSE:OMF – Get Free Report) last posted its earnings results on Friday, October 30th. The financial services provider reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.05). OneMain had a return on equity of 21.97% and a net margin of 13.43%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the company earned $1.90 EPS. On average, equities research analysts forecast that OneMain will post 6.60 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. CX Institutional bought a new stake in OneMain during the third quarter valued at approximately $4,874,000. Kendall Capital Management bought a new position in shares of OneMain in the 2nd quarter worth $1,483,000. Bank of New York Mellon Corp purchased a new stake in shares of OneMain during the 2nd quarter valued at $63,980,000. Wellington Management Group LLP lifted its holdings in shares of OneMain by 10.6% during the 2nd quarter. Wellington Management Group LLP now owns 284,586 shares of the financial services provider’s stock worth $17,351,000 after acquiring an additional 27,371 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of OneMain during the 2nd quarter worth $7,465,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

OneMain Company Profile

(Get Free Report)

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.

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Analyst Recommendations for OneMain (NYSE:OMF)

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