Bank of America Cuts OneMain (NYSE:OMF) Price Target to $67.00

OneMain (NYSE:OMF) had its target price reduced by Bank of America from $71.00 to $67.00 in a research report report published on Monday morning. They currently have a buy rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the stock. Barclays decreased their target price on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of OneMain in a research report on Friday, July 10th. Royal Bank Of Canada lifted their price objective on OneMain from $70.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Evercore set a $66.00 price objective on OneMain in a report on Monday, July 6th. Finally, Citigroup restated a “market outperform” rating on shares of OneMain in a research note on Thursday, July 30th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, OneMain has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.

OneMain Stock Down 1.5%

Shares of NYSE OMF opened at $55.48 on Monday. OneMain has a 52 week low of $45.78 and a 52 week high of $71.93. The business’s 50 day moving average price is $62.23 and its 200 day moving average price is $58.36. The firm has a market cap of $6.38 billion, a P/E ratio of 8.36, a P/E/G ratio of 0.44 and a beta of 1.22.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.26 by $0.05. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.28 billion. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.45 EPS. As a group, research analysts expect that OneMain will post 6.95 earnings per share for the current year.

OneMain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 10th were given a $1.05 dividend. The ex-dividend date was Monday, August 10th. This represents a $4.20 annualized dividend and a dividend yield of 7.6%. OneMain’s dividend payout ratio (DPR) is 63.25%.

Insider Transactions at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $65.40, for a total value of $327,000.00. Following the transaction, the chief operating officer directly owned 91,250 shares of the company’s stock, valued at approximately $5,967,750. This trade represents a 5.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael A. Hedlund sold 2,500 shares of OneMain stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $64.00, for a total value of $160,000.00. Following the completion of the sale, the senior vice president owned 10,627 shares in the company, valued at approximately $680,128. The trade was a 19.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On OneMain

A number of hedge funds have recently made changes to their positions in the company. Core Wealth Advisors LLC acquired a new stake in shares of OneMain in the fourth quarter worth approximately $31,000. Hillsdale Investment Management Inc. acquired a new position in OneMain in the 4th quarter valued at $58,000. Freestone Grove Partners LP purchased a new position in OneMain in the 2nd quarter valued at $61,000. Parkside Financial Bank & Trust lifted its holdings in OneMain by 32.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,011 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 246 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in OneMain during the 2nd quarter worth $73,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Company Profile

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company focused on providing personal loans to customers in the United States. Its products are primarily unsecured and secured installment loans designed for purposes such as debt consolidation, home improvements, unexpected expenses and major purchases.

OneMain also offers optional insurance products and other ancillary services related to its lending activities. The company serves customers through a combination of local branches, online platforms and digital application tools, supporting borrowers who may not be served by traditional banks.

OneMain’s history traces back to consumer-finance operations established in the early 20th century.