Brokerages Set OneMain Holdings, Inc. (NYSE:OMF) Price Target at $68.40

Shares of OneMain Holdings, Inc. (NYSE:OMF) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $68.40.

A number of equities analysts have recently weighed in on the stock. Citigroup reissued a “market outperform” rating on shares of OneMain in a research report on Thursday, July 30th. Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a research report on Tuesday, July 7th. Truist Financial raised their price objective on OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Barclays dropped their price objective on OneMain from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 7th. Finally, Citizens Jmp lifted their target price on OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th.

OneMain Price Performance

OneMain stock opened at $62.79 on Tuesday. The company’s 50 day simple moving average is $62.45 and its 200 day simple moving average is $57.95. OneMain has a fifty-two week low of $45.78 and a fifty-two week high of $71.93. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.48 and a beta of 1.22.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company earned $1.45 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, analysts predict that OneMain will post 7.11 EPS for the current fiscal year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 10th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 6.7%. OneMain’s dividend payout ratio (DPR) is currently 63.25%.

Insider Activity

In other news, COO Micah Conrad sold 5,000 shares of OneMain 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 $5,967,500. The trade was a 4.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael Hedlund sold 2,500 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $680,128. This represents a 19.04% 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. Insiders have sold a total of 14,348 shares of company stock worth $911,576 in the last quarter. 0.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OneMain

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in OneMain during the 2nd quarter worth about $633,893,000. California State Teachers Retirement System increased its position in shares of OneMain by 5,748.8% in the second quarter. California State Teachers Retirement System now owns 8,245,644 shares of the financial services provider’s stock valued at $502,737,000 after acquiring an additional 8,104,663 shares during the last quarter. Jupiter Topco LLC bought a new stake in OneMain during the second quarter worth about $166,060,000. Norges Bank bought a new stake in OneMain during the fourth quarter worth about $100,312,000. Finally, Bank of New York Mellon Corp acquired a new position in OneMain during the second quarter valued at approximately $63,980,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Company Profile

OneMain Holdings, Inc (NYSE: OMF) is a consumer finance company that provides personal lending and related financial products to consumers in the United States. Its primary business operates under the OneMain Financial brand and focuses on serving individuals who may not be fully served by traditional banks.

OneMain offers unsecured and secured personal loans, including loans used for debt consolidation, home improvements, major purchases and other personal expenses. The company also provides optional insurance and debt-cancellation products, as well as credit-related services designed to complement its lending business.