TD Cowen Boosts OneMain (NYSE:OMF) Price Target to $60.00

OneMain (NYSE:OMF) had its price objective hoisted by TD Cowen from $58.00 to $60.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other research firms have also weighed in on OMF. Northland Securities lowered shares of OneMain from an outperform rating to a market perform rating and boosted their price objective for the stock from $46.00 to $49.00 in a research note on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft assumed coverage on OneMain in a research report on Wednesday, January 10th. They set a buy rating and a $68.00 price target on the stock. Stephens dropped their price objective on OneMain from $61.00 to $57.00 and set an overweight rating on the stock in a research note on Thursday, February 8th. Barclays reduced their target price on OneMain from $57.00 to $54.00 and set an overweight rating for the company in a research note on Thursday, February 8th. Finally, StockNews.com upgraded OneMain from a hold rating to a buy rating in a research note on Wednesday, February 14th. Four 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 has a consensus rating of Moderate Buy and a consensus target price of $54.62.

OneMain Stock Up 0.8 %

OMF stock opened at $51.20 on Wednesday. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 0.71 and a beta of 1.63. OneMain has a twelve month low of $33.67 and a twelve month high of $53.65. The business has a 50 day moving average price of $49.05 and a two-hundred day moving average price of $45.75.

OneMain (NYSE:OMF) last released its earnings results on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.07. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $907.93 million. OneMain had a net margin of 13.29% and a return on equity of 20.78%. During the same period last year, the business earned $1.46 earnings per share. On average, equities research analysts anticipate that OneMain will post 5.67 EPS for the current fiscal year.

OneMain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be paid a $1.04 dividend. This is a boost from OneMain’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $4.16 annualized dividend and a yield of 8.13%. OneMain’s payout ratio is 77.97%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Taylor Frigon Capital Management LLC bought a new stake in shares of OneMain in the fourth quarter valued at approximately $1,649,000. Invesco Ltd. raised its holdings in OneMain by 36.5% in the 3rd quarter. Invesco Ltd. now owns 565,150 shares of the financial services provider’s stock valued at $22,657,000 after acquiring an additional 151,226 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of OneMain by 659.7% during the 4th quarter. Miller Howard Investments Inc. NY now owns 105,289 shares of the financial services provider’s stock valued at $5,180,000 after acquiring an additional 91,429 shares during the period. Jump Financial LLC bought a new stake in shares of OneMain during the 3rd quarter valued at $1,351,000. Finally, Robertson Stephens Wealth Management LLC acquired a new stake in shares of OneMain during the 3rd quarter worth $855,000. 85.82% of the stock is 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.