TD Cowen Raises OneMain (NYSE:OMF) Price Target to $60.00

OneMain (NYSE:OMF) had its price objective upped by equities research analysts at TD Cowen from $58.00 to $60.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price suggests a potential upside of 18.86% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Barclays dropped their target price on OneMain from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, February 8th. Royal Bank of Canada raised their price objective on shares of OneMain from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. JMP Securities upped their target price on shares of OneMain from $57.00 to $62.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on OneMain in a report on Wednesday, January 10th. They issued a “buy” rating and a $68.00 target price on the stock. Finally, Northland Securities lowered shares of OneMain from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $46.00 to $49.00 in a research report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, OneMain presently has a consensus rating of “Moderate Buy” and an average target price of $53.31.

OneMain Stock Performance

Shares of OMF traded down $1.63 during midday trading on Wednesday, hitting $50.48. The company had a trading volume of 759,895 shares, compared to its average volume of 1,037,743. The company’s 50-day simple moving average is $48.78 and its 200-day simple moving average is $45.55. OneMain has a 1 year low of $33.67 and a 1 year high of $53.65. The firm has a market capitalization of $6.05 billion, a P/E ratio of 9.46, a P/E/G ratio of 0.70 and a beta of 1.65.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.07. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $907.93 million. OneMain had a net margin of 14.04% and a return on equity of 21.07%. During the same period last year, the firm posted $1.46 EPS. Equities analysts predict that OneMain will post 5.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OneMain

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

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.