OneMain (NYSE:OMF) Given New $59.00 Price Target at Barclays

OneMain (NYSE:OMF) had its price target dropped by investment analysts at Barclays from $60.00 to $59.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential upside of 3.11% from the company’s previous close.

Several other equities analysts also recently commented on OMF. Citizens Jmp upped their price objective on OneMain from $68.00 to $70.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. Truist Financial boosted their target price on OneMain from $70.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of OneMain in a research report on Friday, July 10th. Evercore set a $60.00 price target on OneMain in a research note on Thursday, October 1st. Finally, TD Cowen decreased their price objective on OneMain from $68.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.18.

OneMain Stock Up 1.2%

NYSE OMF traded up $0.67 during trading hours on Monday, reaching $57.22. 1,388,162 shares of the company were exchanged, compared to its average volume of 1,211,605. OneMain has a 1 year low of $45.78 and a 1 year high of $71.93. The business’s 50 day simple moving average is $59.02 and its 200-day simple moving average is $58.46. The stock has a market capitalization of $6.58 billion, a P/E ratio of 8.71, a P/E/G ratio of 0.64 and a beta of 1.24.

OneMain (NYSE:OMF) last released its earnings results on Friday, October 30th. The financial services provider reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.05). The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.34 billion. OneMain had a net margin of 13.43% and a return on equity of 21.91%. During the same quarter in the previous year, the firm earned $1.90 earnings per share. As a group, sell-side analysts anticipate that OneMain will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Micah Conrad sold 5,000 shares of OneMain stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $65.40, for a total value of $327,000.00. Following the completion of the transaction, the chief operating officer directly owned 91,250 shares in the company, valued at approximately $5,967,750. The trade was a 5.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

Institutional Trading of OneMain

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System boosted its stake in OneMain by 1.7% in the 1st quarter. New York State Teachers Retirement System now owns 11,131 shares of the financial services provider’s stock worth $595,000 after purchasing an additional 189 shares during the period. Cidel Asset Management Inc. grew its stake in OneMain by 6.0% during the third quarter. Cidel Asset Management Inc. now owns 3,702 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 211 shares in the last quarter. Taylor Frigon Capital Management LLC grew its stake in OneMain by 0.6% during the third quarter. Taylor Frigon Capital Management LLC now owns 35,370 shares of the financial services provider’s stock valued at $1,959,000 after acquiring an additional 225 shares in the last quarter. Park Avenue Securities LLC increased its holdings in OneMain by 2.7% during the 3rd quarter. Park Avenue Securities LLC now owns 8,980 shares of the financial services provider’s stock worth $497,000 after acquiring an additional 234 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in OneMain by 32.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,011 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 246 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors.

OneMain News Roundup

Here are the key news stories impacting OneMain this week:

• Positive Sentiment: Royal Bank of Canada maintained an “outperform” rating and still sees a $70 price target, implying approximately 21.8% upside. However, RBC trimmed the target from $71, suggesting slightly more cautious expectations. Royal Bank of Canada OneMain rating
• Positive Sentiment: OneMain declared a quarterly dividend of $1.05 per share, or $4.20 annualized, representing a roughly 7.4% yield. Investors of record on November 9 will receive the payment on November 13, supporting the stock’s appeal to income-focused investors.

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.