OneMain’s (OMF) Buy Rating Reaffirmed at Wells Fargo & Company

OneMain (NYSE:OMF)‘s stock had its “buy” rating restated by investment analysts at Wells Fargo & Company in a report issued on Wednesday, TipRanks reports. They presently have a $72.00 price objective on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 28.64% from the company’s previous close.

Other analysts have also issued research reports about the stock. Credit Suisse Group upped their target price on shares of OneMain from $72.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. Barclays upped their target price on shares of OneMain from $72.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, July 23rd. Citigroup upped their target price on shares of OneMain from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Piper Sandler upped their target price on shares of OneMain from $73.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 2nd. Finally, Royal Bank of Canada upped their target price on shares of OneMain from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, OneMain has a consensus rating of “Buy” and an average price target of $66.92.

Shares of NYSE OMF traded up $0.84 during midday trading on Wednesday, hitting $55.97. The company’s stock had a trading volume of 7,028 shares, compared to its average volume of 1,257,967. The stock has a fifty day moving average price of $58.50 and a 200 day moving average price of $56.83. OneMain has a one year low of $28.66 and a one year high of $63.19. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 5.49 and a beta of 2.03.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.47. OneMain had a net margin of 29.54% and a return on equity of 44.15%. The company had revenue of $708.00 million for the quarter, compared to analyst estimates of $965.28 million. During the same quarter in the previous year, the firm posted $0.80 earnings per share. As a group, analysts expect that OneMain will post 10.71 EPS for the current year.

In other OneMain news, CEO Douglas H. Shulman acquired 4,310 shares of the business’s stock in a transaction dated Thursday, August 5th. The stock was bought at an average price of $58.14 per share, with a total value of $250,583.40. Following the purchase, the chief executive officer now owns 241,048 shares of the company’s stock, valued at $14,014,530.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Apollo Management Holdings Gp, sold 10,925,000 shares of the company’s stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $58.36, for a total transaction of $637,583,000.00. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in OMF. Vanguard Group Inc. boosted its position in OneMain by 23.8% during the 2nd quarter. Vanguard Group Inc. now owns 9,067,004 shares of the financial services provider’s stock valued at $543,205,000 after buying an additional 1,744,460 shares during the period. Lord Abbett & CO. LLC purchased a new stake in OneMain during the 1st quarter valued at $47,108,000. Schroder Investment Management Group purchased a new stake in OneMain during the 1st quarter valued at $45,371,000. Point72 Asset Management L.P. purchased a new stake in OneMain during the 1st quarter valued at $43,701,000. Finally, Brandes Investment Partners LP purchased a new stake in OneMain during the 1st quarter valued at $40,295,000. 84.96% of the stock is owned by institutional investors and hedge funds.

OneMain Company Profile

OneMain Holdings, Inc is a consumer finance company, which provides origination, underwriting and servicing of personal loans, primarily to non-prime customers. It operates through the Consumer & Insurance and Other segments. The Consumer and Insurance segment comprises of service secured and unsecured personal loans, voluntary credit and non-credit insurance, and related products through its combined branch network, digital platform, and centralized operations.

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Analyst Recommendations for OneMain (NYSE:OMF)

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