TD Cowen Boosts OneMain (NYSE:OMF) Price Target to $60.00

OneMain (NYSE:OMF) had its price objective hoisted by TD Cowen from $58.00 to $60.00 in a research report released on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s stock.

A number of other equities research analysts have also recently issued reports on OMF. Stephens lowered their price objective on OneMain from $61.00 to $57.00 and set an overweight rating on the stock in a research note on Thursday, February 8th. Royal Bank of Canada raised their price objective on shares of OneMain from $50.00 to $55.00 and gave the stock an outperform rating in a report on Monday, April 1st. StockNews.com raised shares of OneMain from a hold rating to a buy rating in a report on Wednesday, February 14th. Piper Sandler lowered OneMain from an overweight rating to a neutral rating and cut their price target for the stock from $55.00 to $49.00 in a report on Thursday, February 8th. Finally, Barclays decreased their price objective on OneMain from $57.00 to $54.00 and set an overweight rating on the stock in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $54.62.

OneMain Stock Up 0.8 %

OMF opened at $51.20 on Wednesday. The company’s 50-day moving average price is $49.05 and its two-hundred day moving average price is $45.71. OneMain has a twelve month low of $33.67 and a twelve month high of $53.65. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.71 and a beta of 1.63.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.38 by $0.07. OneMain had a return on equity of 20.94% and a net margin of 13.29%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $907.93 million. During the same quarter in the prior year, the business earned $1.46 earnings per share. As a group, sell-side analysts anticipate that OneMain will post 5.65 earnings per share for the current year.

OneMain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be paid a $1.04 dividend. This is an increase from OneMain’s previous quarterly dividend of $1.00. This represents a $4.16 dividend on an annualized basis and a yield of 8.13%. The ex-dividend date is Thursday, May 9th. OneMain’s dividend payout ratio (DPR) is currently 77.97%.

Hedge Funds Weigh In On OneMain

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of OneMain by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 11,943,855 shares of the financial services provider’s stock valued at $587,638,000 after buying an additional 125,032 shares in the last quarter. Brave Warrior Advisors LLC raised its position in OneMain by 21.1% during the fourth quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock valued at $315,707,000 after purchasing an additional 1,118,166 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in OneMain by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,921,164 shares of the financial services provider’s stock worth $143,727,000 after purchasing an additional 78,106 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in shares of OneMain by 10.2% in the 4th quarter. Brandes Investment Partners LP now owns 1,916,484 shares of the financial services provider’s stock worth $94,291,000 after purchasing an additional 177,993 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of OneMain by 36.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,366,621 shares of the financial services provider’s stock valued at $67,238,000 after purchasing an additional 367,823 shares during the last quarter. 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.