OneMain (NYSE:OMF) Stock Price Target Lowered at TD Cowen

OneMain (NYSE:OMF) had its price objective trimmed by TD Cowen from $68.00 to $66.00 in a report issued on Tuesday morning, MarketBeat.com reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts have also weighed in on the stock. Citizens Jmp upped their price target on shares of OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 30th. Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a research report on Friday. Citigroup restated a “market outperform” rating on shares of OneMain in a research note on Thursday, July 30th. Truist Financial upped their target price on shares of OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Barclays cut their price target on OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 7th. Nine 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 MarketBeat.com, OneMain currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.55.

OneMain Stock Down 0.1%

OMF stock opened at $56.20 on Tuesday. OneMain has a twelve month low of $45.78 and a twelve month high of $71.93. The stock has a market cap of $6.47 billion, a P/E ratio of 8.46, a PEG ratio of 0.45 and a beta of 1.24. The business’s 50-day moving average price is $61.88 and its 200-day moving average price is $58.52.

OneMain (NYSE:OMF) last released its 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 13.92% and a return on equity of 23.49%. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm posted $1.45 EPS. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts expect that OneMain will post 6.83 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The business also recently disclosed 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 was Monday, August 10th. This represents a $4.20 annualized dividend and a dividend yield of 7.5%. OneMain’s dividend payout ratio (DPR) is presently 63.25%.

Insider Activity at OneMain

In other news, SVP Michael Hedlund sold 2,500 shares of the business’s stock in a transaction 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 transaction, the senior vice president owned 10,627 shares of the company’s stock, valued at approximately $680,128. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah Conrad sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total transaction of $327,000.00. Following the transaction, the chief operating officer owned 91,250 shares of the company’s stock, valued at approximately $5,967,750. This represents a 5.19% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.29% of the company’s stock.

Institutional Trading of OneMain

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of OneMain in the second quarter worth about $633,893,000. Jupiter Topco LLC purchased a new position in OneMain during the 2nd quarter valued at approximately $166,060,000. Bank of New York Mellon Corp purchased a new position in OneMain during the 2nd quarter valued at approximately $63,980,000. Azora Capital LP increased its stake in OneMain by 210.7% in the 4th quarter. Azora Capital LP now owns 1,362,934 shares of the financial services provider’s stock worth $92,066,000 after acquiring an additional 924,302 shares during the last quarter. Finally, Patient Capital Management LLC bought a new stake in OneMain in the 2nd quarter worth approximately $42,824,000. Hedge funds and other institutional investors 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.