JPMorgan Chase & Co. Reaffirms “Neutral” Rating for OneMain (NYSE:OMF)

OneMain (NYSE:OMF)‘s stock had its “neutral” rating reissued by equities research analysts at JPMorgan Chase & Co. in a research report issued on Tuesday,Benzinga reports. They currently have a $57.00 target price on the financial services provider’s stock, down from their previous target price of $63.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 2.85% from the company’s previous close.

OMF has been the topic of a number of other reports. Wells Fargo & Company started coverage on OneMain in a research report on Monday, August 25th. They issued an “equal weight” rating on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of OneMain in a report on Saturday, September 27th. Finally, Barclays raised their price objective on shares of OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.75.

OneMain Trading Down 1.4%

Shares of NYSE OMF opened at $55.42 on Tuesday. The stock has a fifty day moving average price of $59.00 and a 200 day moving average price of $54.21. OneMain has a 12-month low of $38.00 and a 12-month high of $63.24. The company has a market cap of $6.59 billion, a P/E ratio of 10.00, a P/E/G ratio of 0.44 and a beta of 1.32.

OneMain (NYSE:OMF) last issued its earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.20. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.02 earnings per share. On average, sell-side analysts forecast that OneMain will post 6.46 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas H. Shulman sold 35,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the completion of the transaction, the chief executive officer owned 275,100 shares in the company, valued at approximately $16,360,197. This represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of OneMain by 46.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,122 shares of the financial services provider’s stock valued at $684,000 after buying an additional 4,140 shares during the last quarter. GAMMA Investing LLC raised its stake in OneMain by 14,167.2% during the 1st quarter. GAMMA Investing LLC now owns 49,222 shares of the financial services provider’s stock valued at $2,406,000 after acquiring an additional 48,877 shares in the last quarter. Park Avenue Securities LLC raised its stake in OneMain by 12.7% during the 1st quarter. Park Avenue Securities LLC now owns 9,900 shares of the financial services provider’s stock valued at $484,000 after acquiring an additional 1,116 shares in the last quarter. Farther Finance Advisors LLC boosted its position in OneMain by 198.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,670 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 1,110 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of OneMain by 171.9% in the first quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 6,875 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

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.