OneMain (NYSE:OMF) Given New $68.00 Price Target at TD Cowen

OneMain (NYSE:OMF) had its target price raised by equities research analysts at TD Cowen from $66.00 to $68.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price objective would suggest a potential upside of 13.19% from the company’s current price.

A number of other brokerages have also recently issued reports on OMF. Evercore set a $66.00 target price on OneMain in a report on Monday. Truist Financial reduced their price objective on shares of OneMain from $73.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. BTIG Research restated a “neutral” rating on shares of OneMain in a report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft cut their price target on OneMain from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Finally, Wells Fargo & Company decreased their price objective on OneMain from $70.00 to $65.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Eight 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 company’s stock. According to data from MarketBeat.com, OneMain currently has an average rating of “Moderate Buy” and a consensus price target of $67.80.

OneMain Price Performance

Shares of OMF traded down $0.01 during trading hours on Tuesday, hitting $60.08. The stock had a trading volume of 109,445 shares, compared to its average volume of 1,368,638. OneMain has a 1-year low of $45.78 and a 1-year high of $71.93. The firm has a market capitalization of $6.94 billion, a P/E ratio of 8.94, a price-to-earnings-growth ratio of 0.44 and a beta of 1.22. The firm has a 50 day simple moving average of $56.39 and a 200-day simple moving average of $58.78.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Friday, May 1st. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.09. OneMain had a return on equity of 24.24% and a net margin of 14.38%.The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the business earned $1.72 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts predict that OneMain will post 7.27 EPS for the current fiscal year.

Insider Activity

In related news, SVP Michael A. Hedlund sold 1,848 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $62.00, for a total transaction of $114,576.00. Following the transaction, the senior vice president directly owned 13,127 shares of the company’s stock, valued at $813,874. This trade represents a 12.34% decrease in their ownership of the stock. 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 business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $62.00, for a total transaction of $310,000.00. Following the transaction, the chief operating officer owned 96,250 shares in the company, valued at approximately $5,967,500. This trade represents a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 11,848 shares of company stock valued at $724,576. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OneMain

Several institutional investors have recently modified their holdings of OMF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in OneMain during the first quarter worth $2,037,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of OneMain by 2.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 442,598 shares of the financial services provider’s stock valued at $21,634,000 after purchasing an additional 9,067 shares during the last quarter. Focus Partners Wealth increased its position in shares of OneMain by 101.8% during the 1st quarter. Focus Partners Wealth now owns 8,737 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 4,407 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of OneMain by 32.9% during the 2nd quarter. Prudential Financial Inc. now owns 9,492 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 2,350 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of OneMain by 26.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 19,644 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 4,084 shares during the period. 85.82% of the stock is owned by institutional investors.

OneMain Company Profile

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.