JPMorgan Chase & Co. Issues Positive Forecast for OneMain (NYSE:OMF) Stock Price

OneMain (NYSE:OMF) had its target price upped by equities researchers at JPMorgan Chase & Co. from $52.00 to $56.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 1.04% from the stock’s previous close.

OMF has been the topic of several other reports. Weiss Ratings upgraded OneMain from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of OneMain in a report on Friday, July 10th. Citigroup reaffirmed a “market outperform” rating on shares of OneMain in a research report on Thursday, July 30th. Royal Bank Of Canada dropped their price objective on shares of OneMain from $73.00 to $71.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Finally, TD Cowen reduced their target price on shares of OneMain from $68.00 to $66.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $67.36.

OneMain Price Performance

OMF stock traded up $0.04 during trading on Monday, reaching $56.59. 49,009 shares of the stock traded hands, compared to its average volume of 1,207,766. The business’s 50 day moving average price is $59.02 and its 200-day moving average price is $58.46. The firm has a market capitalization of $6.51 billion, a PE ratio of 8.61, a P/E/G ratio of 0.64 and a beta of 1.24. OneMain has a 52-week low of $45.78 and a 52-week high of $71.93.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Friday, October 30th. The financial services provider reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.05). OneMain had a return on equity of 21.91% and a net margin of 13.43%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company posted $1.90 earnings per share. On average, equities research analysts predict that OneMain will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In other OneMain news, COO Micah Conrad sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $65.40, for a total transaction of $327,000.00. Following the completion of the sale, the chief operating officer owned 91,250 shares in the company, valued at $5,967,750. The trade was a 5.19% 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. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in OneMain during the second quarter worth about $633,893,000. Jupiter Topco LLC acquired a new position in OneMain in the second quarter valued at approximately $166,060,000. Bank of New York Mellon Corp bought a new position in shares of OneMain during the second quarter valued at approximately $63,980,000. Azora Capital LP grew its holdings in shares of OneMain by 266.0% during the second quarter. Azora Capital LP now owns 1,063,857 shares of the financial services provider’s stock valued at $64,863,000 after purchasing an additional 773,192 shares during the last quarter. Finally, Patient Capital Management LLC bought a new position in shares of OneMain during the second quarter valued at approximately $42,824,000. 85.82% of the stock is currently owned by institutional investors.

About OneMain

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company that provides personal lending and related financial services primarily to non-prime consumers in the United States. The company serves customers through a combination of branch locations, online and mobile channels, and centralized customer service operations.

OneMain’s principal products include secured and unsecured personal loans, which customers may use for debt consolidation, home improvements, major purchases, and other personal expenses.