Wells Fargo & Company Trims OneMain (NYSE:OMF) Target Price to $49.00

OneMain (NYSE:OMF) had its price objective decreased by Wells Fargo & Company from $53.00 to $49.00 in a report published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. dropped their price objective on OneMain from $56.00 to $51.00 and set an overweight rating for the company in a research report on Monday, October 7th. Northland Securities lifted their price target on OneMain from $53.00 to $55.00 and gave the company a market perform rating in a report on Thursday, August 1st. JMP Securities restated a market outperform rating and issued a $60.00 price target on shares of OneMain in a report on Tuesday, September 24th. Royal Bank of Canada lowered their price target on OneMain from $60.00 to $58.00 and set an outperform rating for the company in a report on Thursday, October 10th. Finally, StockNews.com cut OneMain from a buy rating to a hold rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $54.00.

OneMain Stock Up 0.4 %

Shares of OMF stock opened at $46.35 on Monday. The stock has a market cap of $5.55 billion, a P/E ratio of 9.04, a P/E/G ratio of 0.87 and a beta of 1.56. The business has a fifty day simple moving average of $46.72 and a 200-day simple moving average of $48.44. OneMain has a fifty-two week low of $35.00 and a fifty-two week high of $54.94.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.12. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $918.74 million. OneMain had a return on equity of 20.63% and a net margin of 12.33%. During the same quarter last year, the business posted $1.01 EPS. On average, sell-side analysts anticipate that OneMain will post 4.91 earnings per share for the current year.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 8.98%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s dividend payout ratio (DPR) is presently 81.09%.

Insider Buying and Selling

In related news, SVP Michael A. Hedlund sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $120,000.00. Following the transaction, the senior vice president now directly owns 20,947 shares of the company’s stock, valued at approximately $1,047,350. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Michael A. Hedlund sold 2,400 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $120,000.00. Following the completion of the transaction, the senior vice president now directly owns 20,947 shares in the company, valued at approximately $1,047,350. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total value of $114,375.00. Following the transaction, the chief operating officer now owns 117,025 shares of the company’s stock, valued at approximately $5,353,893.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,300 shares of company stock valued at $1,534,275. Corporate insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On OneMain

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in shares of OneMain by 6.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 200 shares in the last quarter. Blue Trust Inc. increased its position in OneMain by 43.4% in the second quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock worth $38,000 after buying an additional 225 shares during the period. US Bancorp DE increased its position in OneMain by 1.8% in the first quarter. US Bancorp DE now owns 14,040 shares of the financial services provider’s stock worth $717,000 after buying an additional 245 shares during the period. UMB Bank n.a. increased its position in OneMain by 13.9% in the third quarter. UMB Bank n.a. now owns 2,026 shares of the financial services provider’s stock worth $95,000 after buying an additional 247 shares during the period. Finally, Abich Financial Wealth Management LLC increased its position in OneMain by 27.4% in the second quarter. Abich Financial Wealth Management LLC now owns 1,227 shares of the financial services provider’s stock worth $59,000 after buying an additional 264 shares during the period. 85.82% of the stock is owned by institutional investors and hedge funds.

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.