OneMain (NYSE:OMF) Price Target Raised to $57.00 at Wells Fargo & Company

OneMain (NYSE:OMF) had its target price upped by equities research analysts at Wells Fargo & Company from $52.00 to $57.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 1.91% from the company’s current price.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price target on shares of OneMain in a report on Thursday, January 16th. Stephens started coverage on OneMain in a research note on Wednesday, November 13th. They set an “overweight” rating and a $62.00 target price for the company. JMP Securities increased their price target on shares of OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Finally, Compass Point lifted their price target on shares of OneMain from $60.00 to $63.00 and gave the stock a “buy” 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.69.

OneMain Price Performance

Shares of OMF traded up $1.18 during midday trading on Tuesday, reaching $55.93. The stock had a trading volume of 222,688 shares, compared to its average volume of 778,591. The company’s fifty day simple moving average is $54.44 and its two-hundred day simple moving average is $50.37. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.48 and a beta of 1.58. OneMain has a 1-year low of $41.70 and a 1-year high of $57.97.

Insiders Place Their Bets

In other news, COO Micah R. Conrad sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total value of $130,000.00. Following the sale, the chief operating officer now directly owns 102,239 shares in the company, valued at $5,316,428. This represents a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas H. Shulman sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the transaction, 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. In the last ninety days, insiders have sold 29,492 shares of company stock worth $1,582,384. Corporate insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On OneMain

A number of large investors have recently bought and sold shares of OMF. Janney Montgomery Scott LLC boosted its stake in shares of OneMain by 6.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 275,013 shares of the financial services provider’s stock valued at $14,336,000 after acquiring an additional 15,778 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of OneMain during the 4th quarter worth about $26,000. Nisa Investment Advisors LLC grew its holdings in shares of OneMain by 25.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the financial services provider’s stock worth $308,000 after buying an additional 1,200 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of OneMain by 40.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 5,254 shares of the financial services provider’s stock valued at $274,000 after buying an additional 1,502 shares during the period. Finally, My Legacy Advisors LLC acquired a new stake in OneMain during the fourth quarter worth approximately $226,000. Institutional investors and hedge funds 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.