Wells Fargo & Company Raises OneMain (NYSE:OMF) Price Target to $52.00

OneMain (NYSE:OMF - Get Free Report) had its price objective hoisted by stock analysts at Wells Fargo & Company from $49.00 to $52.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price target would suggest a potential upside of 4.38% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reduced their target price on OneMain from $64.00 to $61.00 and set a "buy" rating on the stock in a report on Tuesday, July 9th. JMP Securities increased their target price on OneMain from $60.00 to $62.00 and gave the company a "market outperform" rating in a research report on Thursday. Royal Bank of Canada restated an "outperform" rating and issued a $58.00 price target on shares of OneMain in a research report on Wednesday, October 16th. Barclays lowered shares of OneMain from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $52.00 to $46.00 in a research report on Tuesday, October 8th. Finally, Compass Point boosted their target price on shares of OneMain from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.08.

OneMain Price Performance

Shares of NYSE:OMF traded down $2.10 during trading on Thursday, hitting $49.82. 1,213,867 shares of the company's stock were exchanged, compared to its average volume of 1,000,177. The business's 50-day simple moving average is $47.08 and its 200 day simple moving average is $48.32. OneMain has a 52-week low of $35.53 and a 52-week high of $54.94. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.89 and a beta of 1.56.

OneMain (NYSE:OMF - Get Free Report) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.12. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.63%. During the same quarter in the prior year, the business earned $1.01 earnings per share. On average, sell-side analysts anticipate that OneMain will post 4.91 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Micah R. Conrad sold 2,500 shares of OneMain stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total transaction of $114,375.00. Following the transaction, the chief operating officer now directly owns 117,025 shares of the company's stock, valued at $5,353,893.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other OneMain news, CEO Douglas H. Shulman sold 15,000 shares of OneMain stock in a transaction on Friday, August 16th. The shares were sold at an average price of $46.30, for a total value of $694,500.00. Following the transaction, the chief executive officer now directly owns 422,474 shares of the company's stock, valued at approximately $19,560,546.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Micah R. Conrad sold 2,500 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total value of $114,375.00. Following the sale, the chief operating officer now owns 117,025 shares of the company's stock, valued at approximately $5,353,893.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,300 shares of company stock worth $1,534,275 in the last three months. Corporate insiders own 0.45% of the company's stock.

Institutional Investors Weigh In On OneMain

Several institutional investors have recently added to or reduced their stakes in OMF. PNC Financial Services Group Inc. boosted its stake in OneMain by 6.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the financial services provider's stock worth $171,000 after purchasing an additional 200 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of OneMain by 6.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 36,536 shares of the financial services provider's stock valued at $1,867,000 after buying an additional 2,367 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of OneMain by 6.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 10,234 shares of the financial services provider's stock valued at $523,000 after acquiring an additional 622 shares during the period. Central Pacific Bank Trust Division purchased a new position in OneMain in the 1st quarter worth $383,000. Finally, WBI Investments LLC lifted its position in OneMain by 385.9% during the 1st quarter. WBI Investments LLC now owns 42,257 shares of the financial services provider's stock worth $2,159,000 after acquiring an additional 33,560 shares during the period. Institutional investors and hedge funds own 85.82% of the company's stock.

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.

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