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

OneMain (NYSE:OMF) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $60.00 to $52.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 7.27% from the company’s current price.

Several other brokerages have also recently commented on OMF. Bank of America reduced their price target on OneMain from $71.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, September 28th. Truist Financial boosted their price target on OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of OneMain in a research report on Friday, October 2nd. Citigroup reiterated a “market outperform” rating on shares of OneMain in a research note on Thursday, July 30th. Finally, Barclays cut their price objective on OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, July 7th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, OneMain presently has an average rating of “Moderate Buy” and an average price target of $67.27.

OneMain Price Performance

Shares of NYSE:OMF opened at $56.08 on Monday. The company’s 50-day moving average price is $61.10 and its two-hundred day moving average price is $58.65. OneMain has a one year low of $45.78 and a one year high of $71.93. The stock has a market capitalization of $6.45 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 0.45 and a beta of 1.24.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.05. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.28 billion. OneMain had a return on equity of 23.49% and a net margin of 13.92%. OneMain’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 EPS. On average, analysts anticipate that OneMain will post 6.75 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of OneMain

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in OneMain in the 2nd quarter valued at about $633,893,000. Jupiter Topco LLC bought a new stake in shares of OneMain during the second quarter worth approximately $166,060,000. Bank of New York Mellon Corp bought a new stake in shares of OneMain during the second quarter worth approximately $63,980,000. Azora Capital LP boosted its holdings in shares of OneMain by 210.7% during the fourth 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 period. Finally, Patient Capital Management LLC bought a new stake in shares of OneMain during the second quarter worth approximately $42,824,000. 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.