OneMain (NYSE:OMF) Price Target Raised to $62.00 at JMP Securities

OneMain (NYSE:OMF) had its target price boosted by JMP Securities from $57.00 to $62.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a market outperform rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. Piper Sandler downgraded OneMain from an overweight rating to a neutral rating and cut their price objective for the company from $55.00 to $49.00 in a research note on Thursday, February 8th. StockNews.com raised shares of OneMain from a hold rating to a buy rating in a research note on Wednesday, February 14th. Stephens lowered their target price on shares of OneMain from $61.00 to $57.00 and set an overweight rating on the stock in a research note on Thursday, February 8th. Barclays dropped their target price on shares of OneMain from $57.00 to $54.00 and set an overweight rating for the company in a report on Thursday, February 8th. Finally, Royal Bank of Canada raised their price target on OneMain from $50.00 to $55.00 and gave the company an outperform rating in a report on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $53.31.

OneMain Trading Down 2.6 %

Shares of NYSE OMF opened at $50.77 on Wednesday. OneMain has a 12-month low of $33.67 and a 12-month high of $53.65. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 0.72 and a beta of 1.63. The firm has a 50 day moving average of $48.87 and a 200 day moving average of $45.58.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.38 by $0.07. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $907.93 million. OneMain had a return on equity of 20.94% and a net margin of 13.29%. During the same period in the prior year, the business posted $1.46 EPS. Sell-side analysts predict that OneMain will post 5.67 EPS for the current year.

OneMain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be paid a $1.04 dividend. This is an increase from OneMain’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, May 9th. This represents a $4.16 dividend on an annualized basis and a yield of 8.19%. OneMain’s payout ratio is presently 77.97%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Taylor Frigon Capital Management LLC bought a new position in OneMain during the fourth quarter valued at $1,649,000. Invesco Ltd. grew its position in OneMain by 36.5% in the third quarter. Invesco Ltd. now owns 565,150 shares of the financial services provider’s stock worth $22,657,000 after acquiring an additional 151,226 shares in the last quarter. Miller Howard Investments Inc. NY increased its stake in OneMain by 659.7% during the fourth quarter. Miller Howard Investments Inc. NY now owns 105,289 shares of the financial services provider’s stock worth $5,180,000 after acquiring an additional 91,429 shares during the last quarter. Jump Financial LLC purchased a new stake in OneMain during the third quarter valued at approximately $1,351,000. Finally, Robertson Stephens Wealth Management LLC bought a new stake in shares of OneMain in the 3rd quarter valued at approximately $855,000. 85.82% of the stock is currently owned by institutional investors.

OneMain Company Profile

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.