JPMorgan Chase & Co. Reiterates Underweight Rating for OneMain (NYSE:OMF)

OneMain (NYSE:OMF)‘s stock had its “underweight” rating reissued by research analysts at JPMorgan Chase & Co. in a research note issued to investors on Monday, Marketbeat reports. They currently have a $65.00 price objective on the financial services provider’s stock, up from their previous price objective of $59.00. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 8.36% from the company’s previous close.

OMF has been the topic of several other reports. Citigroup reissued a “market outperform” rating on shares of OneMain in a report on Monday, November 24th. Truist Financial assumed coverage on OneMain in a report on Monday, December 8th. They set a “buy” rating and a $75.00 price target for the company. Royal Bank Of Canada boosted their price target on OneMain from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Wells Fargo & Company increased their price objective on OneMain from $63.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Finally, Cowen reissued a “buy” rating on shares of OneMain in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, OneMain currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.30.

OneMain Trading Down 0.2%

OMF opened at $70.93 on Monday. The stock’s fifty day simple moving average is $64.63 and its 200 day simple moving average is $60.43. OneMain has a 1-year low of $38.00 and a 1-year high of $71.93. The stock has a market cap of $8.35 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.39 and a beta of 1.33.

OneMain (NYSE:OMF) last released its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.58 by $0.32. The firm had revenue of $747.00 million for the quarter, compared to the consensus estimate of $1.24 billion. OneMain had a net margin of 13.15% and a return on equity of 22.70%. During the same period in the previous year, the company earned $1.31 earnings per share. Equities analysts forecast that OneMain will post 6.46 earnings per share for the current year.

Insiders Place Their Bets

In other OneMain news, SVP Michael A. Hedlund sold 652 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $62.00, for a total value of $40,424.00. Following the transaction, the senior vice president directly owned 15,179 shares of the company’s stock, valued at $941,098. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas H. Shulman sold 57,500 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $68.41, for a total transaction of $3,933,575.00. Following the completion of the transaction, the chief executive officer owned 174,100 shares of the company’s stock, valued at $11,910,181. The trade was a 24.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 98,152 shares of company stock worth $6,353,899 over the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On OneMain

A number of large investors have recently modified their holdings of OMF. Wealth Enhancement Advisory Services LLC raised its holdings in shares of OneMain by 26.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 40,869 shares of the financial services provider’s stock worth $2,922,000 after buying an additional 8,498 shares in the last quarter. NorthCrest Asset Manangement LLC bought a new position in shares of OneMain in the 4th quarter valued at $288,000. Impact Capital Partners LLC raised its position in OneMain by 2.4% in the fourth quarter. Impact Capital Partners LLC now owns 59,752 shares of the financial services provider’s stock valued at $4,036,000 after purchasing an additional 1,380 shares during the last quarter. GAMMA Investing LLC boosted its position in OneMain by 46.7% during the 4th quarter. GAMMA Investing LLC now owns 1,402 shares of the financial services provider’s stock worth $95,000 after buying an additional 446 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of OneMain by 33.5% during the third quarter. JPMorgan Chase & Co. now owns 289,943 shares of the financial services provider’s stock worth $16,370,000 after purchasing an additional 72,688 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Company Profile

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.