OneMain (NYSE:OMF) Price Target Raised to $60.00 at Wells Fargo & Company

OneMain (NYSE:OMF) had its target price increased by Wells Fargo & Company from $53.00 to $60.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 4.87% from the company’s current price.

OMF has been the topic of several other reports. Northland Capmk raised shares of OneMain from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. JPMorgan Chase & Co. increased their price target on OneMain from $50.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Barclays boosted their price objective on OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. JMP Securities reiterated a “market outperform” rating and set a $65.00 target price on shares of OneMain in a research report on Wednesday, April 30th. Finally, Northland Securities upgraded shares of OneMain from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, OneMain has a consensus rating of “Moderate Buy” and an average price target of $60.78.

OneMain Trading Down 0.0%

OneMain stock opened at $57.22 on Tuesday. The firm has a market cap of $6.81 billion, a PE ratio of 12.10, a P/E/G ratio of 0.50 and a beta of 1.32. OneMain has a 12 month low of $38.00 and a 12 month high of $60.12. The stock’s 50 day simple moving average is $54.07 and its two-hundred day simple moving average is $51.96.

OneMain (NYSE:OMF) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.17. The firm had revenue of $188.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. OneMain had a net margin of 11.06% and a return on equity of 19.30%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.45 EPS. On average, equities research analysts forecast that OneMain will post 6.46 EPS for the current year.

Insider Transactions at OneMain

In other news, CEO Douglas H. Shulman sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $52.56, for a total transaction of $1,051,200.00. Following the transaction, the chief executive officer directly owned 323,925 shares in the company, valued at $17,025,498. The trade was a 5.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Micah R. Conrad sold 3,000 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $60.00, for a total value of $180,000.00. Following the completion of the sale, the chief operating officer directly owned 98,007 shares of the company’s stock, valued at approximately $5,880,420. This represents a 2.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,000 shares of company stock valued at $5,082,190. 0.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Orion Portfolio Solutions LLC increased its position in OneMain by 66.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 17,681 shares of the financial services provider’s stock worth $922,000 after purchasing an additional 7,060 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of OneMain by 15.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,263 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 569 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of OneMain by 56.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 121,577 shares of the financial services provider’s stock valued at $5,966,000 after acquiring an additional 43,915 shares during the period. GAMMA Investing LLC boosted its position in shares of OneMain by 191.9% during the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 662 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of OneMain by 5.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,851 shares of the financial services provider’s stock worth $1,251,000 after purchasing an additional 1,441 shares during the period. 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.