JPMorgan Chase & Co. Lowers OneMain (NYSE:OMF) Price Target to $58.00

OneMain (NYSE:OMF) had its price target cut by JPMorgan Chase & Co. from $59.00 to $58.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

OMF has been the topic of several other research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $58.00 price target on shares of OneMain in a research report on Wednesday, October 16th. JMP Securities upped their price target on shares of OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Company upped their price target on shares of OneMain from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Barclays downgraded shares of OneMain from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $52.00 to $46.00 in a research report on Tuesday, October 8th. Finally, StockNews.com downgraded shares of OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

OneMain Stock Performance

Shares of NYSE:OMF opened at $53.57 on Tuesday. The company’s fifty day moving average is $54.45 and its 200-day moving average is $50.20. The company has a market capitalization of $6.39 billion, a PE ratio of 11.72, a P/E/G ratio of 0.69 and a beta of 1.58. OneMain has a 52 week low of $41.70 and a 52 week high of $57.97.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were paid a $1.04 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.77%. OneMain’s dividend payout ratio (DPR) is presently 91.03%.

Insider Activity

In other news, SVP Michael A. Hedlund sold 1,992 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total value of $103,584.00. Following the completion of the sale, the senior vice president now directly owns 18,955 shares of the company’s stock, valued at $985,660. This represents a 9.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Douglas H. Shulman sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $53.00, for a total value of $265,000.00. Following the completion of the sale, the chief executive officer now directly owns 412,474 shares of the company’s stock, valued at approximately $21,861,122. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,492 shares of company stock valued at $1,582,384 in the last ninety days. 0.45% of the stock is owned by insiders.

Institutional Trading of OneMain

A number of institutional investors and hedge funds have recently modified their holdings of OMF. Assenagon Asset Management S.A. bought a new stake in OneMain during the 3rd quarter worth approximately $17,016,000. Janus Henderson Group PLC increased its stake in OneMain by 69.0% during the 3rd quarter. Janus Henderson Group PLC now owns 772,864 shares of the financial services provider’s stock worth $36,377,000 after purchasing an additional 315,640 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in OneMain by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,288,643 shares of the financial services provider’s stock worth $159,465,000 after purchasing an additional 270,207 shares in the last quarter. Lodge Hill Capital LLC bought a new stake in OneMain during the 2nd quarter worth approximately $6,789,000. Finally, Magnolia Capital Advisors LLC acquired a new position in OneMain during the 2nd quarter worth approximately $6,760,000. 85.82% of the stock is owned by institutional investors.

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.