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

OneMain (NYSE:OMF)‘s stock had its “market outperform” rating reaffirmed by stock analysts at JMP Securities in a research note issued on Monday,Benzinga reports. They presently have a $65.00 price target on the financial services provider’s stock. JMP Securities’ target price would indicate a potential upside of 18.36% from the stock’s previous close.

Several other brokerages have also issued reports on OMF. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 target price on shares of OneMain in a research report on Thursday, January 16th. Stephens began coverage on OneMain in a report on Wednesday, November 13th. They issued an “overweight” rating and a $62.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. StockNews.com downgraded OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Barclays cut shares of OneMain from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $52.00 to $46.00 in a research report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.15.

OneMain Price Performance

Shares of OneMain stock opened at $54.92 on Monday. The company has a 50 day simple moving average of $54.70 and a two-hundred day simple moving average of $50.90. The firm has a market cap of $6.55 billion, a PE ratio of 12.95, a PEG ratio of 0.48 and a beta of 1.59. OneMain has a 1 year low of $41.70 and a 1 year high of $58.90.

Insiders Place Their Bets

In other OneMain news, CEO Douglas H. Shulman sold 20,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 392,474 shares in the company, valued at approximately $21,268,166.06. This trade represents a 4.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On OneMain

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Legend Financial Advisors Inc. purchased a new position in OneMain during the 4th quarter valued at $26,000. FNY Investment Advisers LLC bought a new stake in shares of OneMain during the 4th quarter valued at about $26,000. Albion Financial Group UT purchased a new position in shares of OneMain during the fourth quarter valued at about $26,000. Continuum Advisory LLC bought a new position in OneMain in the third quarter worth about $28,000. Finally, IFP Advisors Inc lifted its holdings in OneMain by 180.0% in the fourth quarter. IFP Advisors Inc now owns 770 shares of the financial services provider’s stock worth $40,000 after buying an additional 495 shares during the period. 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.