OneMain (NYSE:OMF) Upgraded by JPMorgan Chase & Co. to “Overweight”

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OneMain (NYSE:OMF) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, MarketBeat reports. The brokerage presently has a $41.00 price target on the financial services provider’s stock, up from their previous price target of $37.50. JPMorgan Chase & Co.‘s price target indicates a potential upside of 20.55% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Northland Securities assumed coverage on shares of Enphase Energy in a research note on Wednesday, June 26th. They set an “outperform” rating and a $24.00 target price for the company. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. Finally, Wedbush reaffirmed an “outperform” rating and set a $124.00 target price on shares of New Relic in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $40.38.

OMF opened at $34.01 on Tuesday. The stock has a market capitalization of $4.62 billion, a PE ratio of 6.72, a price-to-earnings-growth ratio of 0.60 and a beta of 2.41. The company’s fifty day moving average is $32.66. OneMain has a fifty-two week low of $22.47 and a fifty-two week high of $37.29.

OneMain (NYSE:OMF) last posted its earnings results on Monday, April 29th. The financial services provider reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.05. The company had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $735.94 million. OneMain had a net margin of 11.73% and a return on equity of 19.22%. During the same period last year, the company posted $1.18 earnings per share. Analysts forecast that OneMain will post 5.69 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System lifted its holdings in shares of OneMain by 7.5% in the fourth quarter. California Public Employees Retirement System now owns 59,505 shares of the financial services provider’s stock valued at $1,445,000 after purchasing an additional 4,169 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of OneMain by 26.4% in the fourth quarter. Great West Life Assurance Co. Can now owns 10,441 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 2,179 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of OneMain by 20.5% in the fourth quarter. Commonwealth Bank of Australia now owns 10,000 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 1,700 shares in the last quarter. United Services Automobile Association lifted its holdings in shares of OneMain by 9.3% in the fourth quarter. United Services Automobile Association now owns 16,169 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 1,370 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of OneMain by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,450,176 shares of the financial services provider’s stock valued at $83,806,000 after purchasing an additional 423,499 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

About OneMain

OneMain Holdings, Inc, through its subsidiaries, provides consumer finance and insurance products and services. The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing. It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.

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Analyst Recommendations for OneMain (NYSE:OMF)

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