Wells Fargo & Company Trims OneMain (NYSE:OMF) Target Price to $49.00

OneMain (NYSE:OMF) had its price objective dropped by equities research analysts at Wells Fargo & Company from $53.00 to $49.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 4.99% from the stock’s previous close.

Several other analysts also recently issued reports on OMF. JPMorgan Chase & Co. reduced their price target on shares of OneMain from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of OneMain in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft reduced their target price on OneMain from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Royal Bank of Canada cut their price objective on OneMain from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Finally, StockNews.com downgraded OneMain from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

OneMain Stock Up 0.7 %

Shares of OneMain stock opened at $46.67 on Monday. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 0.87 and a beta of 1.56. The firm’s 50-day moving average price is $46.72 and its two-hundred day moving average price is $48.44. OneMain has a 12-month low of $35.00 and a 12-month high of $54.94.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.12. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates 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 company posted $1.01 EPS. On average, sell-side analysts expect that OneMain will post 4.91 earnings per share for the current year.

Insider Buying and Selling at OneMain

In related news, SVP Michael A. Hedlund sold 2,400 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 25,747 shares of the company’s stock, valued at approximately $1,184,362. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other OneMain news, SVP Michael A. Hedlund sold 2,400 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 25,747 shares of the company’s stock, valued at $1,184,362. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Micah R. Conrad sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total value of $114,375.00. Following the transaction, the chief operating officer now owns 117,025 shares of the company’s stock, valued at $5,353,893.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,300 shares of company stock worth $1,534,275 in the last three months. 0.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OneMain

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in shares of OneMain during the 2nd quarter worth approximately $31,000. International Assets Investment Management LLC bought a new position in OneMain in the second quarter worth approximately $34,000. Blue Trust Inc. boosted its holdings in shares of OneMain by 43.4% in the 2nd quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock valued at $38,000 after buying an additional 225 shares in the last quarter. Abich Financial Wealth Management LLC raised its stake 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 buying an additional 304 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of OneMain by 32.6% in the 2nd quarter. UMB Bank n.a. now owns 1,779 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 437 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

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.