BMO Capital Markets Increases OneMain (NYSE:OMF) Price Target to $50.00

OneMain (NYSE:OMF) had its price target lifted by research analysts at BMO Capital Markets from $48.00 to $50.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ target price points to a potential downside of 2.34% from the stock’s current price.

OMF has been the subject of a number of other research reports. TD Cowen increased their target price on OneMain from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup dropped their price objective on shares of OneMain from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Piper Sandler downgraded shares of OneMain from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $55.00 to $49.00 in a research note on Thursday, February 8th. StockNews.com raised shares of OneMain from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada upped their price objective on shares of OneMain from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.62.

OneMain Price Performance

OMF stock traded up $0.39 during midday trading on Thursday, reaching $51.20. 1,019,451 shares of the company’s stock traded hands, compared to its average volume of 1,093,288. OneMain has a fifty-two week low of $33.67 and a fifty-two week high of $53.65. The business has a 50-day moving average price of $49.05 and a two-hundred day moving average price of $45.71. The company has a market capitalization of $6.13 billion, a P/E ratio of 9.98, a PEG ratio of 0.70 and a beta of 1.63.

OneMain (NYSE:OMF) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.07. OneMain had a net margin of 13.29% and a return on equity of 20.78%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $907.93 million. During the same quarter in the previous year, the business posted $1.46 EPS. As a group, research analysts forecast that OneMain will post 5.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its stake in OneMain by 6.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the financial services provider’s stock worth $171,000 after buying an additional 200 shares during the last quarter. Blue Trust Inc. lifted its position in OneMain by 49.9% in the 4th quarter. Blue Trust Inc. now owns 730 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 243 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in OneMain by 21.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,405 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 251 shares during the period. Allworth Financial LP grew its position in OneMain by 25.4% in the 4th quarter. Allworth Financial LP now owns 1,339 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 271 shares during the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of OneMain by 2.0% in the third quarter. Alps Advisors Inc. now owns 14,283 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 275 shares during the period. 85.82% of the stock is owned by institutional investors and hedge funds.

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.