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

OneMain (NYSE:OMF)‘s stock had its “market outperform” rating reissued by equities research analysts at JMP Securities in a research report issued on Monday, Benzinga reports. They currently have a $60.00 price objective on the financial services provider’s stock. JMP Securities’ target price points to a potential upside of 30.29% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Barclays downgraded OneMain from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $52.00 to $46.00 in a research note on Tuesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of OneMain from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of OneMain from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. StockNews.com downgraded shares of OneMain from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Royal Bank of Canada dropped their target price on shares of OneMain from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

OneMain Price Performance

Shares of OMF stock traded down $0.13 on Monday, reaching $46.05. 219,048 shares of the company were exchanged, compared to its average volume of 987,179. The company has a 50-day moving average of $46.68 and a 200-day moving average of $48.47. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 0.87 and a beta of 1.56. OneMain has a one year low of $35.00 and a one year high of $54.94.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.12. OneMain had a return on equity of 20.63% and a net margin of 12.33%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $918.74 million. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, sell-side analysts predict that OneMain will post 4.91 EPS for the current year.

Insider Activity

In other OneMain news, SVP Michael A. Hedlund sold 2,400 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $46.00, for a total value of $110,400.00. Following the sale, the senior vice president now directly owns 25,747 shares in the company, valued at $1,184,362. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the chief executive officer now owns 417,474 shares of the company’s stock, valued at approximately $20,873,700. The trade was a 0.00 % decrease in their ownership of the stock. 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 the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $46.00, for a total transaction of $110,400.00. Following the completion of the sale, the senior vice president now directly owns 25,747 shares in the company, valued at $1,184,362. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,300 shares of company stock worth $1,534,275. 0.45% of the stock is owned by company insiders.

Institutional Trading of OneMain

Institutional investors and hedge funds have recently made changes to their positions in the stock. Clearbridge Investments LLC raised its holdings in shares of OneMain by 64.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,890,017 shares of the financial services provider’s stock valued at $96,561,000 after buying an additional 743,034 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of OneMain during the 2nd quarter valued at $608,000. Nomura Holdings Inc. purchased a new position in OneMain in the 4th quarter worth $9,139,000. Swedbank AB bought a new stake in OneMain in the first quarter worth $817,000. Finally, Argent Capital Management LLC boosted its position in OneMain by 33.6% during the second quarter. Argent Capital Management LLC now owns 672,952 shares of the financial services provider’s stock valued at $32,631,000 after buying an additional 169,339 shares during the period. 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.