Wells Fargo & Company Increases OneMain (NYSE:OMF) Price Target to $53.00

OneMain (NYSE:OMF) had its price objective hoisted by Wells Fargo & Company from $48.00 to $53.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on the company. Citigroup dropped their target price on OneMain from $54.00 to $52.00 and set a buy rating on the stock in a report on Thursday, February 8th. Stephens lowered their price objective on OneMain from $61.00 to $57.00 and set an overweight rating on the stock in a report on Thursday, February 8th. Piper Sandler downgraded OneMain from an overweight rating to a neutral rating and cut their target price for the stock from $55.00 to $49.00 in a research note on Thursday, February 8th. JMP Securities raised their price target on OneMain from $57.00 to $62.00 and gave the company a market outperform rating in a report on Wednesday, May 1st. Finally, StockNews.com upgraded OneMain from a hold rating to a buy rating in a research report 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 MarketBeat.com, OneMain presently has a consensus rating of Moderate Buy and an average price target of $54.62.

OneMain Price Performance

OMF stock opened at $51.20 on Thursday. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 0.71 and a beta of 1.63. The company has a fifty day moving average price of $49.05 and a 200 day moving average price of $45.80. OneMain has a 12 month low of $33.67 and a 12 month high of $53.65.

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

OneMain Increases Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OMF. Norges Bank purchased a new stake in OneMain during the fourth quarter valued at about $62,732,000. Brave Warrior Advisors LLC increased its position in shares of OneMain by 21.1% in the fourth quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock worth $315,707,000 after acquiring an additional 1,118,166 shares in the last quarter. Argent Capital Management LLC raised its stake in shares of OneMain by 608.1% in the 1st quarter. Argent Capital Management LLC now owns 503,613 shares of the financial services provider’s stock valued at $25,730,000 after acquiring an additional 432,492 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of OneMain by 36.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,366,621 shares of the financial services provider’s stock valued at $67,238,000 after acquiring an additional 367,823 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in OneMain during the 3rd quarter worth $12,613,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

OneMain Company Profile

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.