Royal Bank of Canada reaffirmed their outperform rating on shares of OneMain (NYSE:OMF – Free Report) in a report released on Thursday, Benzinga reports. The firm currently has a $50.00 price target on the financial services provider’s stock.
Several other equities analysts have also issued reports on OMF. JMP Securities raised their price target on OneMain from $46.00 to $53.00 and gave the stock a market outperform rating in a research report on Friday, January 12th. Wells Fargo & Company lifted their target price on shares of OneMain from $43.00 to $48.00 and gave the stock an equal weight rating in a research note on Thursday, January 4th. JPMorgan Chase & Co. dropped their price target on shares of OneMain from $48.00 to $42.00 and set an overweight rating for the company in a research report on Tuesday, October 17th. Piper Sandler cut shares of OneMain from an overweight rating to a neutral rating and decreased their price objective for the company from $55.00 to $49.00 in a research report on Thursday. Finally, Barclays initiated coverage on shares of OneMain in a report on Wednesday, November 15th. They set an overweight rating and a $51.00 target price for the company. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $50.85.
OneMain Stock Down 2.1 %
OneMain (NYSE:OMF – Get Free Report) last issued its earnings results on Wednesday, February 7th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. OneMain had a net margin of 14.04% and a return on equity of 21.25%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $913.90 million. During the same quarter last year, the company earned $1.56 EPS. As a group, equities analysts anticipate that OneMain will post 6.76 earnings per share for the current year.
OneMain Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Tuesday, February 20th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, February 16th. This represents a $4.00 dividend on an annualized basis and a yield of 9.11%. OneMain’s dividend payout ratio (DPR) is currently 75.19%.
Institutional Trading of OneMain
A number of hedge funds have recently made changes to their positions in OMF. JPMorgan Chase & Co. grew its stake in shares of OneMain by 43.2% in the first quarter. JPMorgan Chase & Co. now owns 200,354 shares of the financial services provider’s stock worth $9,500,000 after acquiring an additional 60,428 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in OneMain by 106.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 13,392 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 6,898 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in OneMain in the first quarter worth about $534,000. Bank of Montreal Can increased its position in shares of OneMain by 72.6% during the first quarter. Bank of Montreal Can now owns 49,082 shares of the financial services provider’s stock valued at $2,336,000 after acquiring an additional 20,646 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in OneMain in the 1st quarter valued at approximately $104,000. 79.70% of the stock is owned by institutional investors.
OneMain Company Profile
OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses. The company originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards and insurance products comprising life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.
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