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

OneMain (NYSE:OMF) had its price target decreased by JPMorgan Chase & Co. from $59.00 to $58.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also recently commented on OMF. Wells Fargo & Company raised their target price on shares of OneMain from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Stephens began coverage on shares of OneMain in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $62.00 price target for the company. StockNews.com lowered shares of OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 price target on shares of OneMain in a research report on Wednesday, October 16th. Finally, Barclays lowered shares of OneMain from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $52.00 to $46.00 in a research report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.31.

OneMain Price Performance

Shares of OMF opened at $54.74 on Tuesday. OneMain has a one year low of $41.70 and a one year high of $57.97. The company has a 50-day moving average of $54.46 and a two-hundred day moving average of $50.26. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.44 and a beta of 1.58.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $4.16 annualized dividend and a yield of 7.60%. OneMain’s dividend payout ratio (DPR) is presently 91.03%.

Insider Buying and Selling at OneMain

In other OneMain news, COO Micah R. Conrad sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total transaction of $130,000.00. Following the transaction, the chief operating officer now owns 102,239 shares in the company, valued at $5,316,428. This trade represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael A. Hedlund sold 1,992 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total value of $103,584.00. Following the transaction, the senior vice president now owns 18,955 shares in the company, valued at approximately $985,660. This trade represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,492 shares of company stock worth $1,582,384 over the last 90 days. Insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On OneMain

Several hedge funds and other institutional investors have recently modified their holdings of OMF. Legend Financial Advisors Inc. acquired a new stake in shares of OneMain in the fourth quarter worth $26,000. FNY Investment Advisers LLC acquired a new stake in shares of OneMain in the fourth quarter worth $26,000. Continuum Advisory LLC acquired a new stake in shares of OneMain in the third quarter worth $28,000. Abich Financial Wealth Management LLC grew its stake in shares of OneMain by 27.4% in the second quarter. Abich Financial Wealth Management LLC now owns 1,227 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 264 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of OneMain by 64.1% in the third quarter. Blue Trust Inc. now owns 1,219 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 476 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

About OneMain

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.