JMP Securities Reaffirms Market Outperform Rating for OneMain (NYSE:OMF)

OneMain (NYSE:OMF)‘s stock had its “market outperform” rating reiterated by JMP Securities in a research report issued on Tuesday, Benzinga reports. They currently have a $60.00 target price on the financial services provider’s stock. JMP Securities’ target price points to a potential upside of 33.36% from the company’s previous close.

Several other analysts have also recently commented on OMF. BTIG Research started coverage on shares of OneMain in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Northland Securities lifted their price objective on OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $60.00 target price on shares of OneMain in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft reduced their price target on OneMain from $64.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Barclays dropped their price objective on OneMain from $55.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.25.

OneMain Stock Performance

Shares of OneMain stock opened at $44.99 on Tuesday. The company has a market capitalization of $5.39 billion, a P/E ratio of 8.77, a PEG ratio of 0.81 and a beta of 1.56. OneMain has a 1 year low of $35.00 and a 1 year high of $54.94. The company’s fifty day moving average is $47.88 and its two-hundred day moving average is $48.74.

OneMain (NYSE:OMF) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.12. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $918.74 million. OneMain had a return on equity of 20.63% and a net margin of 12.33%. During the same quarter in the previous year, the firm posted $1.01 EPS. As a group, equities analysts expect that OneMain will post 5.11 earnings per share for the current year.

Insider Activity at OneMain

In other news, CEO Douglas H. Shulman sold 5,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the sale, the chief executive officer now directly owns 417,474 shares in the company, valued at approximately $20,873,700. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Douglas H. Shulman sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the sale, the chief executive officer now owns 417,474 shares in the company, valued at approximately $20,873,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael A. Hedlund sold 2,400 shares of OneMain stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total transaction of $120,000.00. Following the transaction, the senior vice president now directly owns 20,947 shares in the company, valued at $1,047,350. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,300 shares of company stock worth $1,534,275. 0.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On OneMain

Institutional investors and hedge funds have recently bought and sold shares of the stock. EdgeRock Capital LLC purchased a new position in shares of OneMain in the second quarter valued at $31,000. International Assets Investment Management LLC acquired a new stake in shares of OneMain during the second quarter valued at about $34,000. Blue Trust Inc. increased its position in shares of OneMain by 43.4% during the second quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 225 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of OneMain in the fourth quarter worth about $47,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in OneMain by 46.1% in the first quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

About OneMain

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.