OneMain (NYSE:OMF) Price Target Raised to $56.00

OneMain (NYSE:OMF) had its target price upped by JPMorgan Chase & Co. from $52.00 to $56.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

OMF has been the topic of several other reports. 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 report on Tuesday, July 7th. Truist Financial upped their price target on shares of OneMain from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Royal Bank Of Canada lowered their price objective on shares of OneMain from $73.00 to $71.00 and set an “outperform” rating for the company in a research report on Friday, October 16th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of OneMain in a research report on Friday, July 10th. Finally, Citigroup restated a “market outperform” rating on shares of OneMain in a report on Thursday, July 30th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.82.

OneMain Price Performance

NYSE OMF opened at $57.96 on Monday. The firm has a market cap of $6.63 billion, a P/E ratio of 8.90, a P/E/G ratio of 0.65 and a beta of 1.30. The stock’s 50-day moving average is $58.67 and its 200-day moving average is $58.33. OneMain has a one year low of $45.78 and a one year high of $71.93.

OneMain (NYSE:OMF) last released its quarterly earnings data on Friday, October 30th. The financial services provider reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.05). OneMain had a net margin of 13.43% and a return on equity of 21.90%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned $1.90 EPS. Equities analysts anticipate that OneMain will post 6.59 EPS for the current year.

OneMain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Monday, November 9th will be issued a dividend of $1.05 per share. The ex-dividend date is Monday, November 9th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 7.2%. OneMain’s dividend payout ratio (DPR) is presently 63.93%.

Institutional Investors Weigh In On OneMain

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in OneMain in the 2nd quarter valued at $633,893,000. Jupiter Topco LLC bought a new position in OneMain during the 2nd quarter worth $166,060,000. Bank of New York Mellon Corp bought a new position in OneMain during the 2nd quarter worth $63,980,000. Azora Capital LP lifted its holdings in shares of OneMain by 266.0% during the second quarter. Azora Capital LP now owns 1,063,857 shares of the financial services provider’s stock worth $64,863,000 after buying an additional 773,192 shares in the last quarter. Finally, Patient Capital Management LLC acquired a new stake in shares of OneMain during the second quarter worth $42,824,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Key Headlines Impacting OneMain

Here are the key news stories impacting OneMain this week:

• Positive Sentiment: A Seeking Alpha article argued that OneMain’s credit performance is improving while growth is accelerating, and assigned the stock a “Strong Buy” view. OneMain Holdings: Credit Improving While Growth Accelerates (Strong Buy)
• Positive Sentiment: JPMorgan raised its price target, providing a supportive analyst signal. OneMain Stock Gets Price Target Increase from JPMorgan
• Positive Sentiment: Truist cut its target slightly, from $71 to $70, but maintained a “buy” rating; its target implies substantial upside from the cited share price. Truist recommendation
• Neutral Sentiment: Wells Fargo lowered its target from $65 to $62 and kept an “equal weight” rating, signaling a more cautious view while still indicating modest potential upside at the cited price. Wells Fargo recommendation
• Negative Sentiment: Royal Bank of Canada and Barclays also cut their price targets, adding to the cautious analyst commentary. RBC target cut Barclays target cut
• Negative Sentiment: Northland trimmed its FY2027 EPS estimate to $8.25 from $8.32. Also, OneMain’s latest reported quarterly EPS of $1.51 missed the $1.56 consensus and was below the year-earlier $1.90, though revenue exceeded estimates.

About OneMain

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company that provides personal lending and related financial services primarily to non-prime consumers in the United States. The company serves customers through a combination of branch locations, online and mobile channels, and centralized customer service operations.

OneMain’s principal products include secured and unsecured personal loans, which customers may use for debt consolidation, home improvements, major purchases, and other personal expenses.