OneMain (NYSE:OMF) Stock Price Target Cut by TD Cowen

by · The Cerbat Gem

OneMain (NYSE:OMF – Get Free Report) had its price objective cut by equities research analysts at TD Cowen from $68.00 to $66.00 in a report issued on Tuesday, MarketBeat.com reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target indicates a potential upside of 17.85% from the stock’s current price.

A number of other research analysts also recently issued reports on OMF. Evercore set a $60.00 price target on shares of OneMain in a research report on Thursday, October 1st. Citizens Jmp boosted their price objective on shares of OneMain from $68.00 to $70.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research note on Friday, October 2nd. Barclays cut their target price on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of OneMain in a report on Friday, July 10th. 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $67.55.

Check Out Our Latest Stock Report on OMF

OneMain Trading Down 0.3%

OMF stock opened at $56.00 on Tuesday. The stock’s 50 day simple moving average is $61.74 and its 200 day simple moving average is $58.55. OneMain has a 12-month low of $45.78 and a 12-month high of $71.93. The firm has a market cap of $6.44 billion, a P/E ratio of 8.43, a P/E/G ratio of 0.45 and a beta of 1.24.

OneMain (NYSE:OMF – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.05. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted $1.45 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. On average, research analysts forecast that OneMain will post 6.83 EPS for the current fiscal year.

Insider Activity

In other OneMain news, SVP Michael A. Hedlund sold 2,500 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,000.00. Following the completion of the transaction, the senior vice president owned 10,627 shares in the company, valued at approximately $680,128. This represents a 19.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. 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 transaction 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 approximately $5,967,750. This trade represents a 5.19% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On OneMain

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in OneMain in the 2nd quarter worth approximately $633,893,000. Dimensional Fund Advisors LP raised its stake in 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 acquiring an additional 308,370 shares in the last quarter. Janus Henderson Group PLC raised its stake in OneMain by 7.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,729,862 shares of the financial services provider’s stock valued at $146,030,000 after acquiring an additional 195,591 shares in the last quarter. Jupiter Topco LLC acquired a new position in OneMain during the 2nd quarter worth $166,060,000. Finally, State Street Corp boosted its position in OneMain by 1.8% during the 2nd quarter. State Street Corp now owns 2,451,937 shares of the financial services provider’s stock worth $149,495,000 after acquiring an additional 42,917 shares during the period. Institutional investors own 85.82% of the company’s stock.

About OneMain

(Get Free Report)

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company focused on providing personal loans to customers in the United States. Its products are primarily unsecured and secured installment loans designed for purposes such as debt consolidation, home improvements, unexpected expenses and major purchases.

OneMain also offers optional insurance products and other ancillary services related to its lending activities. The company serves customers through a combination of local branches, online platforms and digital application tools, supporting borrowers who may not be served by traditional banks.

OneMain’s history traces back to consumer-finance operations established in the early 20th century.

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