JPMorgan Chase & Co. Boosts OneMain (NYSE:OMF) Price Target to $52.00

OneMain (NYSE:OMF) had its target price increased by JPMorgan Chase & Co. from $51.00 to $52.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. Northland Securities downgraded OneMain from an outperform rating to a market perform rating and increased their price target for the stock from $46.00 to $49.00 in a research report on Wednesday, January 17th. Wells Fargo & Company raised their target price on shares of OneMain from $43.00 to $48.00 and gave the company an equal weight rating in a research report on Thursday, January 4th. Piper Sandler cut shares of OneMain from an overweight rating to a neutral rating and lowered their price target for the stock from $55.00 to $49.00 in a research report on Thursday, February 8th. Barclays dropped their price objective on shares of OneMain from $57.00 to $54.00 and set an overweight rating on the stock in a research note on Thursday, February 8th. Finally, StockNews.com raised shares of OneMain from a hold rating to a buy rating in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $54.62.

OneMain Price Performance

OMF stock opened at $51.20 on Wednesday. The company has a market capitalization of $6.14 billion, a PE ratio of 9.98, a P/E/G ratio of 0.71 and a beta of 1.63. OneMain has a 12 month low of $33.67 and a 12 month high of $53.65. The firm’s 50-day moving average is $49.05 and its 200 day moving average is $45.71.

OneMain (NYSE:OMF) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.07. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $907.93 million. OneMain had a net margin of 13.29% and a return on equity of 20.94%. During the same period last year, the company posted $1.46 earnings per share. Sell-side analysts forecast that OneMain will post 5.65 EPS for the current fiscal year.

OneMain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be given a dividend of $1.04 per share. This is a positive change from OneMain’s previous quarterly dividend of $1.00. This represents a $4.16 annualized dividend and a yield of 8.13%. The ex-dividend date is Thursday, May 9th. OneMain’s dividend payout ratio is currently 77.97%.

Institutional Investors Weigh In On OneMain

A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in OneMain by 6.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 200 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of OneMain by 49.9% during the fourth quarter. Blue Trust Inc. now owns 730 shares of the financial services provider’s stock valued at $36,000 after buying an additional 243 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of OneMain by 21.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,405 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 251 shares during the period. Allworth Financial LP raised its stake in OneMain by 25.4% in the 4th quarter. Allworth Financial LP now owns 1,339 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 271 shares during the last quarter. Finally, Alps Advisors Inc. lifted its position in OneMain by 2.0% during the 3rd quarter. Alps Advisors Inc. now owns 14,283 shares of the financial services provider’s stock worth $573,000 after acquiring an additional 275 shares during the period. 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.