JMP Securities Increases OneMain (NYSE:OMF) Price Target to $62.00

OneMain (NYSE:OMF) had its price target upped by JMP Securities from $57.00 to $62.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a market outperform rating on the financial services provider’s stock.

Several other equities analysts have also issued reports on OMF. Northland Securities lowered OneMain from an outperform rating to a market perform rating and upped their price target for the company from $46.00 to $49.00 in a research note on Wednesday, January 17th. Stephens reduced their target price on shares of OneMain from $61.00 to $57.00 and set an overweight rating on the stock in a research note on Thursday, February 8th. Barclays lowered their price target on shares of OneMain from $57.00 to $54.00 and set an overweight rating for the company in a research report on Thursday, February 8th. StockNews.com upgraded shares of OneMain from a hold rating to a buy rating in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of OneMain from $47.00 to $51.00 and gave the company an overweight rating in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $54.62.

OneMain Stock Performance

OneMain stock opened at $51.20 on Wednesday. The firm has a market cap of $6.13 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.70 and a beta of 1.63. The business’s fifty day moving average is $49.05 and its two-hundred day moving average is $45.75. OneMain has a 52 week low of $33.67 and a 52 week high of $53.65.

OneMain (NYSE:OMF) last posted its quarterly earnings data 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 company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $907.93 million. OneMain had a return on equity of 20.78% and a net margin of 13.29%. During the same quarter in the previous year, the firm earned $1.46 earnings per share. On average, equities research analysts predict that OneMain will post 5.68 earnings per share for the current year.

OneMain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, May 9th. This is a positive change from OneMain’s previous quarterly dividend of $1.00. This represents a $4.16 dividend on an annualized basis and a yield of 8.13%. OneMain’s dividend payout ratio is presently 81.09%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. AE Wealth Management LLC boosted its position in OneMain by 27.8% during the third quarter. AE Wealth Management LLC now owns 9,001 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 1,959 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in OneMain by 3.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 97,198 shares of the financial services provider’s stock valued at $3,897,000 after purchasing an additional 2,800 shares during the last quarter. Bank of New York Mellon Corp boosted its position in OneMain by 5.8% during the third quarter. Bank of New York Mellon Corp now owns 1,052,225 shares of the financial services provider’s stock valued at $42,184,000 after purchasing an additional 58,079 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in OneMain by 1.0% during the third quarter. Verdence Capital Advisors LLC now owns 35,708 shares of the financial services provider’s stock valued at $1,432,000 after purchasing an additional 363 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in OneMain by 71.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,001 shares of the financial services provider’s stock valued at $1,323,000 after purchasing an additional 13,697 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors.

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.