OneMain (NYSE:OMF) Price Target Cut to $46.00 by Analysts at JPMorgan Chase & Co.

OneMain (NYSE:OMF - Get Free Report) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $58.00 to $46.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 6.84% from the stock's previous close.

A number of other equities analysts have also recently issued reports on the company. Evercore ISI started coverage on OneMain in a report on Tuesday, March 25th. They issued an "in-line" rating and a $58.00 target price on the stock. Wells Fargo & Company upped their price objective on shares of OneMain from $52.00 to $57.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Northland Securities upgraded shares of OneMain from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 8th. Stephens restated an "overweight" rating and issued a $62.00 target price on shares of OneMain in a report on Monday, February 3rd. Finally, Barclays set a $56.00 price target on OneMain in a research report on Friday, March 14th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, OneMain has an average rating of "Moderate Buy" and a consensus price target of $58.17.

Remove Ads

OneMain Price Performance

Shares of OMF traded up $0.04 during mid-day trading on Tuesday, hitting $43.06. The company's stock had a trading volume of 1,795,287 shares, compared to its average volume of 1,028,209. The firm has a 50-day moving average price of $50.30 and a 200 day moving average price of $51.75. OneMain has a fifty-two week low of $38.00 and a fifty-two week high of $58.90. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.44 and a beta of 1.35.

Insiders Place Their Bets

In related news, SVP Michael A. Hedlund sold 2,808 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $56.09, for a total value of $157,500.72. Following the completion of the transaction, the senior vice president now directly owns 15,831 shares in the company, valued at approximately $887,960.79. This represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.45% of the company's stock.

Institutional Investors Weigh In On OneMain

Several institutional investors and hedge funds have recently bought and sold shares of OMF. Wellington Management Group LLP increased its stake in OneMain by 395.9% in the fourth quarter. Wellington Management Group LLP now owns 2,249,762 shares of the financial services provider's stock valued at $117,280,000 after acquiring an additional 1,796,054 shares during the period. Norges Bank acquired a new position in shares of OneMain in the 4th quarter worth approximately $72,936,000. FMR LLC raised its holdings in shares of OneMain by 14.3% in the 4th quarter. FMR LLC now owns 10,835,668 shares of the financial services provider's stock worth $564,863,000 after buying an additional 1,352,604 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of OneMain by 54.1% during the 4th quarter. Clearbridge Investments LLC now owns 2,885,961 shares of the financial services provider's stock worth $150,445,000 after buying an additional 1,013,312 shares during the period. Finally, William Blair Investment Management LLC acquired a new stake in OneMain in the 4th quarter valued at $46,195,000. 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.