Brokerages Set OneMain Holdings, Inc. (NYSE:OMF) Target Price at $60.50

Shares of OneMain Holdings, Inc. (NYSE:OMF) have been given an average rating of “Moderate Buy” by the twelve analysts that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $60.50.

A number of equities analysts have commented on OMF shares. JMP Securities decreased their target price on OneMain from $65.00 to $63.00 and set a “market outperform” rating for the company in a research note on Monday, October 13th. Citigroup reiterated an “outperform” rating on shares of OneMain in a research report on Monday, October 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $57.00 price objective (down from $63.00) on shares of OneMain in a research report on Tuesday, October 7th. Finally, Wall Street Zen downgraded OneMain from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th.

OneMain Stock Up 2.5%

Shares of OMF stock opened at $55.50 on Friday. The business has a 50 day moving average of $58.56 and a two-hundred day moving average of $54.59. OneMain has a 52 week low of $38.00 and a 52 week high of $63.24. The company has a market cap of $6.60 billion, a P/E ratio of 10.02, a PEG ratio of 0.43 and a beta of 1.32.

OneMain (NYSE:OMF) last issued its earnings results on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.20. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $1.02 earnings per share. OneMain’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts expect that OneMain will post 6.46 EPS for the current fiscal year.

OneMain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were given a dividend of $1.04 per share. The ex-dividend date was Monday, August 4th. This represents a $4.16 annualized dividend and a dividend yield of 7.5%. OneMain’s payout ratio is currently 75.09%.

Insider Activity

In other news, CEO Douglas H. Shulman sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the completion of the transaction, the chief executive officer directly owned 275,100 shares in the company, valued at approximately $16,360,197. The trade was a 11.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On OneMain

Institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its holdings in shares of OneMain by 9.1% during the second quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider’s stock worth $120,000 after buying an additional 176 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of OneMain by 2.5% during the third quarter. Central Pacific Bank Trust Division now owns 8,284 shares of the financial services provider’s stock worth $468,000 after buying an additional 205 shares in the last quarter. Forum Financial Management LP increased its holdings in shares of OneMain by 4.6% during the second quarter. Forum Financial Management LP now owns 4,749 shares of the financial services provider’s stock worth $271,000 after buying an additional 209 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of OneMain by 3.4% during the second quarter. NewEdge Advisors LLC now owns 7,180 shares of the financial services provider’s stock worth $409,000 after buying an additional 239 shares in the last quarter. Finally, Vista Finance LLC increased its holdings in shares of OneMain by 4.1% during the second quarter. Vista Finance LLC now owns 7,073 shares of the financial services provider’s stock worth $403,000 after buying an additional 279 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

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.