Wells Fargo & Company Has Lowered Expectations for OneMain (NYSE:OMF) Stock Price

OneMain (NYSE:OMF) had its target price decreased by equities researchers at Wells Fargo & Company from $70.00 to $65.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 15.93% from the company’s previous close.

A number of other research analysts have also recently commented on the stock. Truist Financial reduced their price target on shares of OneMain from $75.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of OneMain in a report on Monday, December 29th. Stephens dropped their target price on shares of OneMain to $76.00 and set an “overweight” rating for the company in a report on Friday, February 6th. TD Cowen restated a “buy” rating on shares of OneMain in a report on Thursday, January 8th. Finally, JPMorgan Chase & Co. dropped their price objective on OneMain from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Friday, February 6th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.33.

OneMain Price Performance

OMF opened at $56.07 on Thursday. The company’s 50-day moving average is $55.94 and its 200 day moving average is $59.92. OneMain has a fifty-two week low of $38.76 and a fifty-two week high of $71.93. The firm has a market capitalization of $6.57 billion, a P/E ratio of 8.47, a PEG ratio of 0.40 and a beta of 1.30.

OneMain (NYSE:OMF) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.04. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.28 billion. OneMain had a net margin of 14.35% and a return on equity of 23.76%. During the same period last year, the business earned $1.16 earnings per share. On average, equities research analysts expect that OneMain will post 6.46 earnings per share for the current year.

Insider Transactions at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $58.00, for a total value of $290,000.00. Following the sale, the chief operating officer directly owned 106,250 shares of the company’s stock, valued at $6,162,500. This represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On OneMain

Institutional investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC lifted its position in shares of OneMain by 117.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 202 shares in the last quarter. Root Financial Partners LLC bought a new stake in OneMain in the third quarter worth $26,000. Core Wealth Advisors LLC bought a new position in OneMain during the fourth quarter valued at $31,000. Activest Wealth Management lifted its holdings in shares of OneMain by 1,102.1% in the 3rd quarter. Activest Wealth Management now owns 577 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 529 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in OneMain during the fourth quarter worth approximately $36,000. 85.82% of the stock is owned by institutional investors.

About OneMain

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.