OneMain (NYSE:OMF) Given New $71.00 Price Target at Truist Financial

OneMain (NYSE:OMF) had its target price increased by investment analysts at Truist Financial from $70.00 to $71.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective indicates a potential upside of 13.66% from the stock’s current price.

A number of other equities research analysts have also issued reports on OMF. Citizens Jmp boosted their target price on OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Thursday. Wells Fargo & Company dropped their price target on OneMain from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Evercore set a $66.00 price objective on OneMain in a report on Monday, July 6th. Barclays dropped their target price on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 7th. Finally, BTIG Research restated a “neutral” rating on shares of OneMain in a research report on Thursday, April 16th. Eight 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.10.

OneMain Price Performance

Shares of NYSE OMF traded down $0.47 during mid-day trading on Thursday, reaching $62.47. 192,333 shares of the company traded hands, compared to its average volume of 1,342,510. OneMain has a fifty-two week low of $45.78 and a fifty-two week high of $71.93. The firm has a market cap of $7.22 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 0.47 and a beta of 1.22. The stock has a fifty day simple moving average of $57.96 and a 200-day simple moving average of $57.71.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.05. OneMain had a net margin of 14.38% and a return on equity of 24.24%. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business posted $1.45 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, analysts predict that OneMain will post 7.14 EPS for the current fiscal year.

Insider Transactions at OneMain

In other news, SVP Michael A. Hedlund sold 1,848 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $62.00, for a total value of $114,576.00. Following the completion of the sale, the senior vice president directly owned 13,127 shares of the company’s stock, valued at $813,874. This 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 can be accessed through 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 that occurred on Monday, June 29th. The shares were sold at an average price of $62.00, for a total transaction of $310,000.00. Following the transaction, the chief operating officer directly owned 96,250 shares in the company, valued at $5,967,500. The trade was a 4.94% 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. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in OneMain by 24.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 259,803 shares of the financial services provider’s stock worth $17,945,000 after acquiring an additional 50,521 shares during the period. Kingsview Wealth Management LLC acquired a new stake in shares of OneMain in the 4th quarter valued at $5,310,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of OneMain by 39.0% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 126,492 shares of the financial services provider’s stock valued at $8,553,000 after purchasing an additional 35,466 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of OneMain during the first quarter worth $1,638,000. Finally, Illinois Municipal Retirement Fund lifted its position in shares of OneMain by 37.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 104,527 shares of the financial services provider’s stock worth $5,591,000 after purchasing an additional 28,536 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

More OneMain News

Here are the key news stories impacting OneMain this week:

• Positive Sentiment: Citizens JMP raised its price target to $70 from $68 and maintained a “market outperform” rating, implying approximately 12.5% upside from the referenced share price. TickerReport article
• Positive Sentiment: OneMain declared a quarterly dividend of $1.05 per share, payable August 14 to shareholders of record August 10. The annualized payout implies a dividend yield of roughly 6.7%, which may attract income-focused investors. OneMain second-quarter results
• Neutral Sentiment: Second-quarter revenue and managed receivables showed continued business growth. Revenue was reported at approximately $1.62 billion, up 6.7% year over year, while managed receivables reached $26.9 billion. OneMain second-quarter results
• Negative Sentiment: Profitability declined from the prior-year quarter. Second-quarter net income fell to $152 million from $167 million, while diluted EPS declined to $1.32 from $1.40. Management’s earnings discussion also highlighted growth occurring amid elevated credit costs, a potential concern for a nonprime consumer lender. TipRanks earnings-call article

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.