OneMain (NYSE:OMF) Price Target Raised to $57.00 at Wells Fargo & Company

OneMain (NYSE:OMF) had its price target hoisted by Wells Fargo & Company from $52.00 to $57.00 in a research report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities analysts have also weighed in on the company. Compass Point boosted their price objective on OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays lowered OneMain from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $52.00 to $46.00 in a research report on Tuesday, October 8th. JPMorgan Chase & Co. decreased their price target on OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. JMP Securities boosted their price objective on shares of OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Finally, Stephens initiated coverage on shares of OneMain in a research report on Wednesday, November 13th. They set an “overweight” rating and a $62.00 price target for the company. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.69.

OneMain Stock Performance

Shares of OMF stock opened at $55.76 on Tuesday. The stock’s fifty day moving average is $54.47 and its two-hundred day moving average is $50.43. The firm has a market capitalization of $6.65 billion, a P/E ratio of 12.20, a PEG ratio of 0.48 and a beta of 1.58. OneMain has a fifty-two week low of $41.70 and a fifty-two week high of $57.97.

OneMain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were issued a $1.04 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.46%. OneMain’s payout ratio is currently 91.03%.

Insider Buying and Selling

In related news, CEO Douglas H. Shulman sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were 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 directly owns 392,474 shares of the company’s stock, valued at $21,268,166.06. The trade was a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Micah R. Conrad sold 2,500 shares of OneMain stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total value of $130,000.00. Following the sale, the chief operating officer now owns 102,239 shares in the company, valued at $5,316,428. This trade represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,492 shares of company stock worth $1,582,384 over the last 90 days. 0.45% of the stock is owned by insiders.

Institutional Investors Weigh In On OneMain

Several large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in OneMain by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 93,670 shares of the financial services provider’s stock valued at $4,542,000 after purchasing an additional 1,299 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of OneMain during the second quarter worth about $1,358,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of OneMain by 11.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 33,578 shares of the financial services provider’s stock worth $1,619,000 after buying an additional 3,552 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in OneMain by 13.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,604 shares of the financial services provider’s stock valued at $899,000 after acquiring an additional 2,142 shares during the period. Finally, Hsbc Holdings PLC raised its stake in OneMain by 10.2% during the 2nd quarter. Hsbc Holdings PLC now owns 197,717 shares of the financial services provider’s stock valued at $9,533,000 after acquiring an additional 18,291 shares during the last quarter. 85.82% of the stock is 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.