OneMain (NYSE:OMF) Stock Gets Price Target Trim from Royal Bank Of Canada

OneMain (NYSE:OMF) had its price objective trimmed by Royal Bank Of Canada from $71.00 to $70.00 in a report released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other research analysts have also commented on the company. Citigroup reiterated a “market outperform” rating on shares of OneMain in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of OneMain in a report on Friday, July 10th. Truist Financial raised their price objective on shares of OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of OneMain from $52.00 to $56.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, Weiss Ratings raised shares of OneMain from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.82.

OneMain Price Performance

OneMain stock opened at $57.96 on Monday. OneMain has a 12 month low of $45.78 and a 12 month high of $71.93. The stock has a market capitalization of $6.63 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 0.65 and a beta of 1.30. The business has a 50 day simple moving average of $58.67 and a 200-day simple moving average of $58.33.

OneMain (NYSE:OMF) last issued its quarterly earnings results on Friday, October 30th. The financial services provider reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.05). The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.34 billion. OneMain had a return on equity of 21.90% and a net margin of 13.43%. During the same period in the prior year, the firm earned $1.90 earnings per share. On average, equities research analysts anticipate that OneMain will post 6.59 EPS for the current fiscal year.

OneMain Dividend Announcement

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

Institutional Investors Weigh In On OneMain

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMF. BlackRock Inc. purchased a new position in shares of OneMain during the 2nd quarter worth $633,893,000. Dimensional Fund Advisors LP increased its position in shares of OneMain by 7.6% during 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 purchasing an additional 308,370 shares during the last quarter. Jupiter Topco LLC purchased a new stake in OneMain in the 2nd quarter valued at about $166,060,000. State Street Corp raised its holdings in OneMain by 1.8% in the 2nd quarter. State Street Corp now owns 2,451,937 shares of the financial services provider’s stock valued at $149,495,000 after buying an additional 42,917 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in OneMain by 7.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,729,862 shares of the financial services provider’s stock valued at $146,030,000 after buying an additional 195,591 shares during the period. Hedge funds and other institutional investors 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.