Royal Bank of Canada Increases OneMain (NYSE:OMF) Price Target to $65.00

OneMain (NYSE:OMF) had its price objective lifted by equities researchers at Royal Bank of Canada from $62.00 to $65.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 18.36% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Stephens reaffirmed an “overweight” rating and set a $62.00 price objective on shares of OneMain in a research report on Monday. JPMorgan Chase & Co. decreased their price target on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company raised their price objective on shares of OneMain from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Compass Point increased their target price on OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $65.00 price target on shares of OneMain in a report on Monday. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.15.

OneMain Stock Up 0.7 %

NYSE:OMF opened at $54.92 on Monday. OneMain has a 12-month low of $41.70 and a 12-month high of $58.90. The stock’s 50 day moving average price is $54.70 and its two-hundred day moving average price is $50.90. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 0.48 and a beta of 1.59.

Insider Activity at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total transaction of $1,083,800.00. Following the sale, the chief executive officer now owns 392,474 shares of the company’s stock, valued at approximately $21,268,166.06. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Legend Financial Advisors Inc. bought a new stake in OneMain in the fourth quarter worth approximately $26,000. FNY Investment Advisers LLC bought a new stake in shares of OneMain in the 4th quarter valued at $26,000. Albion Financial Group UT acquired a new position in shares of OneMain during the 4th quarter valued at $26,000. Continuum Advisory LLC bought a new position in OneMain during the third quarter worth $28,000. Finally, IFP Advisors Inc grew 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 purchasing an additional 495 shares during the period. 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.