TD Cowen raises OneMain’s (NYSE:OMF) price target to $60.00

OneMain (NYSE:OMF – Free Report) The price objective was raised by TD Cowen from $58.00 to $60.00 in a research report released on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s shares.

A number of other stock analysts have also recently released reports on OMF. Stephens lowered his price objective on OneMain from $61.00 to $57.00 and set an overweight rating on the stock in a research note on Thursday, February 8. Royal Bank of Canada lifted their price objective on shares of OneMain from $50.00 to $55.00 and gave the stock an outperform rating in a report on Monday, April 1. StockNews.com upgraded shares of OneMain from a hold rating to a buy rating in a report on Wednesday, February 14. Piper Sandler downgraded OneMain from an overweight rating to a neutral rating and lowered their price target for the stock from $55.00 to $49.00 in a report on Thursday, February 8. Finally, Barclays lowered their price objective on OneMain from $57.00 to $54.00 and set an overweight rating on the stock in a research note on Thursday, February 8. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $54.62.

Get our latest research report on OMF

OneMain stock up 0.8%

OMF opened at $51.20 on Wednesday. The company’s 50-day moving average price is $49.05 and its two-hundred-day moving average price is $45.71. OneMain has a 12-month low of $33.67 and a 12-month high of $53.65. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.71 and a beta of 1.63.

OneMain (NYSE:OMF – Get Free Report) last posted its quarterly earnings data 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 return on equity of 20.94% and a net margin of 13.29%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $907.93 million. In the same quarter of the previous year, the company earned earnings per share of $1.46. As a group, sell-side analysts expect OneMain to post 5.65 earnings per share for the current year.

OneMain increases dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17. Investors of record on Friday, May 10 will receive a $1.04 dividend. This is an increase from OneMain’s previous quarterly dividend of $1.00. This represents a dividend of $4.16 annually and a yield of 8.13%. The ex-dividend date is Thursday, May 9. OneMain’s dividend payout ratio (DPR) currently stands at 77.97%.

Hedge funds weigh heavily on OneMain

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in OneMain shares by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 11,943,855 shares of the financial services company valued at $587,638,000 after purchasing an additional 125,032 shares in the last quarter. Brave Warrior Advisors LLC increased its position in OneMain by 21.1% during the fourth quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock valued at $315,707,000 after purchasing an additional 1,118,166 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in OneMain by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,921,164 shares of the financial services provider’s stock worth $143,727,000 after purchasing an additional 78,106 shares during the last quarter. Brandes Investment Partners LP increased its holdings in shares of OneMain by 10.2% in the 4th quarter. Brandes Investment Partners LP now owns 1,916,484 shares of the financial services provider’s stock valued at $94,291,000 after purchasing an additional 177,993 shares in the last quarter. Finally, Goldman Sachs Group Inc. his position in OneMain stock during the 4th quarter increased by 36.8%. Goldman Sachs Group Inc. now owns 1,366,621 shares of the financial services company valued at $67,238,000 after purchasing an additional 367,823 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s shares.

About OneMain

(Get a free report)

OneMain Holdings, Inc, a financial services holding company, engages in consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans that are 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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