JPMorgan Chase & Co. Lowers OneMain (NYSE:OMF) Price Target to $58.00

OneMain (NYSE:OMF) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $59.00 to $58.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 6.46% from the company’s previous close.

OMF has been the topic of several other reports. Wells Fargo & Company lifted their price objective on shares of OneMain from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Stephens began coverage on OneMain in a research report on Wednesday, November 13th. They set an “overweight” rating and a $62.00 price objective for the company. JMP Securities raised their target price on OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $58.00 price target on shares of OneMain in a research report on Wednesday, October 16th. Finally, Compass Point raised their price target on OneMain from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, OneMain currently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

OneMain Price Performance

Shares of NYSE OMF opened at $54.48 on Tuesday. The firm has a market capitalization of $6.50 billion, a PE ratio of 11.92, a P/E/G ratio of 0.69 and a beta of 1.58. OneMain has a 1-year low of $41.70 and a 1-year high of $57.97. The business’s fifty day moving average price is $54.45 and its two-hundred day moving average price is $50.23.

Insiders Place Their Bets

In related news, CEO Douglas H. Shulman sold 20,000 shares of OneMain stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $54.19, for a total value of $1,083,800.00. Following the transaction, the chief executive officer now owns 392,474 shares of the company’s stock, valued at approximately $21,268,166.06. This trade represents a 4.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Hedlund sold 1,992 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total transaction of $103,584.00. Following the sale, the senior vice president now directly owns 18,955 shares of the company’s stock, valued at $985,660. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,492 shares of company stock worth $1,582,384. 0.45% of the stock is owned by insiders.

Hedge Funds Weigh In On OneMain

Several institutional investors and hedge funds have recently added to or reduced their stakes in OMF. Arkadios Wealth Advisors boosted its position in shares of OneMain by 9.8% in the fourth quarter. Arkadios Wealth Advisors now owns 4,927 shares of the financial services provider’s stock worth $257,000 after buying an additional 439 shares during the period. Argent Capital Management LLC lifted its stake in OneMain by 2.3% in the 4th quarter. Argent Capital Management LLC now owns 827,710 shares of the financial services provider’s stock worth $43,149,000 after acquiring an additional 18,534 shares in the last quarter. Burney Co. boosted its position in OneMain by 11.0% during the 4th quarter. Burney Co. now owns 29,456 shares of the financial services provider’s stock worth $1,536,000 after acquiring an additional 2,927 shares during the period. Peak Financial Advisors LLC grew its stake in OneMain by 3.3% during the 4th quarter. Peak Financial Advisors LLC now owns 9,588 shares of the financial services provider’s stock valued at $500,000 after acquiring an additional 310 shares in the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of OneMain by 11.5% in the 4th quarter. Park Avenue Securities LLC now owns 8,784 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 904 shares during the period. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

OneMain Company Profile

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.