OneMain (NYSE:OMF) Price Target Cut to $70.00 by Analysts at Truist Financial

OneMain (NYSE:OMF) had its target price cut by Truist Financial from $73.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target indicates a potential upside of 16.21% from the company’s previous close.

A number of other equities analysts have also issued reports on OMF. TD Cowen reaffirmed a “buy” rating on shares of OneMain in a research report on Monday, May 4th. BTIG Research reissued a “neutral” rating on shares of OneMain in a report on Thursday, April 16th. Wells Fargo & Company reduced their price target on shares of OneMain from $70.00 to $65.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Royal Bank Of Canada decreased their price target on shares of OneMain from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Finally, Evercore set a $55.00 price objective on shares of OneMain in a report on Tuesday, March 17th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

OneMain Stock Down 1.2%

OMF opened at $60.23 on Thursday. The stock’s 50 day moving average price is $56.36 and its two-hundred day moving average price is $58.95. The firm has a market capitalization of $6.96 billion, a P/E ratio of 8.96, a price-to-earnings-growth ratio of 0.45 and a beta of 1.21. OneMain has a 12-month low of $45.78 and a 12-month high of $71.93.

OneMain (NYSE:OMF) last issued its quarterly earnings results on Friday, May 1st. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.09. OneMain had a return on equity of 24.24% and a net margin of 14.38%.The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the company earned $1.72 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, analysts anticipate that OneMain will post 7.35 earnings per share for the current year.

Insider Buying and Selling

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $62.00, for a total value of $310,000.00. Following the sale, the chief operating officer owned 96,250 shares of the company’s stock, valued at $5,967,500. The trade was a 4.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 1,848 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $62.00, for a total transaction of $114,576.00. Following the completion of the transaction, the senior vice president owned 13,127 shares of the company’s stock, valued at approximately $813,874. This represents a 12.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 11,848 shares of company stock worth $724,576. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of OneMain

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Csenge Advisory Group lifted its stake in OneMain by 4.1% during the fourth quarter. Csenge Advisory Group now owns 4,239 shares of the financial services provider’s stock worth $286,000 after purchasing an additional 167 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in OneMain by 4.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,075 shares of the financial services provider’s stock valued at $275,000 after buying an additional 174 shares in the last quarter. Geneos Wealth Management Inc. grew its position in OneMain by 9.1% in the second quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 176 shares during the period. New York State Teachers Retirement System raised its stake in OneMain by 1.7% during the first quarter. New York State Teachers Retirement System now owns 11,131 shares of the financial services provider’s stock worth $595,000 after acquiring an additional 189 shares in the last quarter. Finally, Generali Asset Management SPA SGR raised its stake in OneMain by 5.9% during the fourth quarter. Generali Asset Management SPA SGR now owns 3,413 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 190 shares in the last quarter. Institutional investors 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.