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

OneMain (NYSE:OMF) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $59.00 to $58.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 10.06% from the company’s previous close.

OMF has been the topic of several other reports. Compass Point raised their price target on OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 target price on shares of OneMain in a research report on Wednesday, October 16th. Stephens assumed coverage on OneMain in a research report on Wednesday, November 13th. They set an “overweight” rating and a $62.00 price objective for the company. StockNews.com downgraded shares of OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, JMP Securities boosted their price objective on shares of OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, OneMain currently has an average rating of “Moderate Buy” and an average target price of $56.00.

OneMain Stock Performance

Shares of OMF stock traded up $0.12 on Tuesday, hitting $52.70. 233,608 shares of the company’s stock traded hands, compared to its average volume of 747,558. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 0.69 and a beta of 1.58. The company’s fifty day simple moving average is $54.41 and its 200 day simple moving average is $50.16. OneMain has a one year low of $41.70 and a one year high of $57.97.

Insider Transactions at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total transaction of $1,083,800.00. Following the transaction, the chief executive officer now owns 392,474 shares in the company, valued at approximately $21,268,166.06. This represents a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael A. Hedlund sold 1,992 shares of OneMain stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total transaction of $103,584.00. Following the completion of the sale, the senior vice president now owns 18,955 shares of the company’s stock, valued at $985,660. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,492 shares of company stock worth $1,582,384 over the last quarter. 0.45% of the stock is currently owned by insiders.

Institutional Trading of OneMain

Large investors have recently modified their holdings of the company. Clearbridge Investments LLC grew its stake in shares of OneMain by 1.3% during the 2nd quarter. Clearbridge Investments LLC now owns 1,914,355 shares of the financial services provider’s stock valued at $92,827,000 after purchasing an additional 24,338 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in OneMain during the second quarter valued at approximately $608,000. TCW Group Inc. boosted its stake in shares of OneMain by 23.7% during the 3rd quarter. TCW Group Inc. now owns 55,999 shares of the financial services provider’s stock worth $2,636,000 after acquiring an additional 10,744 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of OneMain by 13.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 271 shares during the period. Finally, AQR Capital Management LLC raised its holdings in OneMain by 19.5% in the 2nd quarter. AQR Capital Management LLC now owns 678,499 shares of the financial services provider’s stock worth $32,900,000 after purchasing an additional 110,862 shares during the period. 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.