OneMain (NYSE:OMF) Stock Gets Price Target Reduction from Wells Fargo & Company

OneMain (NYSE:OMF) had its target price decreased by Wells Fargo & Company from $65.00 to $62.00 in a research note issued to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on OMF. Evercore set a $60.00 price target on shares of OneMain in a report on Thursday, October 1st. Truist Financial dropped their price target on shares of OneMain from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday. Weiss Ratings raised shares of OneMain from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 30th. TD Cowen cut their price objective on shares of OneMain from $68.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Finally, Royal Bank Of Canada decreased their price objective on shares of OneMain from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Monday, November 2nd. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.82.

OneMain Price Performance

NYSE:OMF traded down $0.71 during trading hours on Wednesday, reaching $56.12. The company had a trading volume of 947,062 shares, compared to its average volume of 929,214. OneMain has a 1-year low of $45.78 and a 1-year high of $71.93. The firm has a market cap of $6.42 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 0.66 and a beta of 1.30. The business’s 50 day moving average price is $58.39 and its 200-day moving average price is $58.25.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Friday, October 30th. The financial services provider reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.05). The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.34 billion. OneMain had a return on equity of 21.97% and a net margin of 13.43%. During the same period in the previous year, the business earned $1.90 EPS. On average, analysts expect that OneMain will post 6.59 earnings per share for the current fiscal year.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Monday, November 9th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Monday, November 9th. OneMain’s dividend payout ratio (DPR) is presently 63.93%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of OneMain during the 2nd quarter valued at approximately $633,893,000. Dimensional Fund Advisors LP increased its holdings in OneMain by 7.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,342,241 shares of the financial services provider’s stock worth $232,258,000 after acquiring an additional 308,370 shares in the last quarter. Jupiter Topco LLC purchased a new stake in OneMain in the 2nd quarter worth $166,060,000. State Street Corp raised its position in OneMain by 1.8% during the second quarter. State Street Corp now owns 2,451,937 shares of the financial services provider’s stock worth $149,495,000 after acquiring an additional 42,917 shares during the period. Finally, Janus Henderson Group PLC raised its position in OneMain by 7.7% during the first quarter. Janus Henderson Group PLC now owns 2,729,862 shares of the financial services provider’s stock worth $146,030,000 after acquiring an additional 195,591 shares during the period. 85.82% of the stock is owned by institutional investors and hedge funds.

OneMain Company Profile

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.