TD Cowen Cuts OneMain (NYSE:OMF) Price Target to $66.00

OneMain (NYSE:OMF) had its target price reduced by TD Cowen from $68.00 to $66.00 in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have a buy rating on the financial services provider’s stock.

OMF has been the subject of several other research reports. Evercore set a $60.00 price target on OneMain in a research note on Thursday, October 1st. Truist Financial increased their price target on OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Bank of America dropped their price objective on OneMain from $71.00 to $67.00 and set a “buy” rating on the stock in a report on Monday, September 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of OneMain in a research report on Friday, July 10th. Finally, Citizens Jmp lifted their price target on shares of OneMain from $68.00 to $70.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.55.

OneMain Stock Performance

Shares of NYSE OMF opened at $56.42 on Tuesday. The company has a market capitalization of $6.49 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 0.45 and a beta of 1.24. The company’s fifty day moving average price is $61.59 and its 200 day moving average price is $58.59. OneMain has a 1 year low of $45.78 and a 1 year high of $71.93.

OneMain (NYSE:OMF) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.05. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company earned $1.45 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts expect that OneMain will post 6.75 EPS for the current year.

OneMain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 10th were paid a $1.05 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 7.4%. OneMain’s payout ratio is currently 63.25%.

Insider Activity at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $65.40, for a total transaction of $327,000.00. Following the completion of the sale, the chief operating officer owned 91,250 shares of the company’s stock, valued at $5,967,750. This represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael A. Hedlund sold 2,500 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total transaction of $160,000.00. Following the completion of the sale, the senior vice president owned 10,627 shares of the company’s stock, valued at approximately $680,128. The trade was a 19.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OneMain

Several hedge funds and other institutional investors have recently made changes to their positions in OMF. Freestone Grove Partners LP acquired a new position in OneMain during the second quarter worth $61,000. Parkside Financial Bank & Trust increased its stake in shares of OneMain by 32.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,011 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 246 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in shares of OneMain by 37.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,180 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 320 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of OneMain during the 2nd quarter worth $73,000. Finally, Beaird Harris Wealth Management LLC acquired a new position in shares of OneMain during the 4th quarter valued at about $81,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Company Profile

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company focused on providing personal loans to customers in the United States. Its products are primarily unsecured and secured installment loans designed for purposes such as debt consolidation, home improvements, unexpected expenses and major purchases.

OneMain also offers optional insurance products and other ancillary services related to its lending activities. The company serves customers through a combination of local branches, online platforms and digital application tools, supporting borrowers who may not be served by traditional banks.

OneMain’s history traces back to consumer-finance operations established in the early 20th century.