OneMain (NYSE:OMF) Upgraded by Wedbush to Outperform

Wedbush upgraded shares of OneMain (NYSE:OMF) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday morning, 24/7 WallStreet reports. The brokerage currently has $45.00 target price on the financial services provider’s stock, up from their prior target price of $35.00. Wedbush also issued estimates for OneMain’s Q3 2019 earnings at $1.49 EPS, Q4 2019 earnings at $1.61 EPS, FY2019 earnings at $6.10 EPS, Q1 2020 earnings at $1.58 EPS, Q2 2020 earnings at $1.32 EPS, Q3 2020 earnings at $1.70 EPS, Q4 2020 earnings at $1.74 EPS, FY2020 earnings at $6.35 EPS and FY2021 earnings at $6.85 EPS.

Several other research analysts also recently commented on OMF. Zacks Investment Research raised shares of OneMain from a sell rating to a hold rating in a report on Saturday, July 20th. Northland Securities raised shares of OneMain from a market perform rating to an outperform rating and raised their price objective for the stock from $38.00 to $40.00 in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. raised shares of OneMain from a neutral rating to an overweight rating and raised their price objective for the stock from $37.50 to $41.00 in a report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $44.70.

Shares of OneMain stock traded down $1.15 on Tuesday, reaching $40.28. 95,037 shares of the company traded hands, compared to its average volume of 461,772. OneMain has a 52 week low of $22.47 and a 52 week high of $43.28. The business has a 50 day moving average of $34.34. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 0.73 and a beta of 2.41.

OneMain (NYSE:OMF) last released its quarterly earnings data on Monday, July 29th. The financial services provider reported $1.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.27. The company had revenue of $762.00 million during the quarter, compared to the consensus estimate of $743.08 million. OneMain had a net margin of 15.98% and a return on equity of 20.44%. During the same period last year, the firm earned $1.18 EPS. Sell-side analysts forecast that OneMain will post 5.83 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Monday, August 26th. OneMain’s dividend payout ratio (DPR) is presently 19.76%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC lifted its stake in OneMain by 96.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,075 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 528 shares in the last quarter. CWM LLC purchased a new stake in OneMain in the 1st quarter worth approximately $79,000. Twin Tree Management LP lifted its stake in OneMain by 19.4% in the 1st quarter. Twin Tree Management LP now owns 2,780 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 451 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in OneMain by 211.5% in the 1st quarter. Advisors Asset Management Inc. now owns 4,772 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 3,240 shares in the last quarter. Finally, Quantamental Technologies LLC lifted its stake in OneMain by 49.1% in the 1st quarter. Quantamental Technologies LLC now owns 6,156 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 2,027 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

OneMain Company Profile

OneMain Holdings, Inc, through its subsidiaries, provides consumer finance and insurance products and services. The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing. It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.

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Analyst Recommendations for OneMain (NYSE:OMF)

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