JPMorgan Chase & Co. Has Lowered Expectations for OneMain (NYSE:OMF) Stock Price

OneMain (NYSE:OMF) had its target price cut by research analysts at JPMorgan Chase & Co. from $58.00 to $46.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.51% from the stock’s previous close.

Other analysts have also issued reports about the stock. Northland Securities raised shares of OneMain from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Barclays set a $56.00 price target on shares of OneMain in a research report on Friday, March 14th. JMP Securities reissued a “market outperform” rating and issued a $65.00 price objective on shares of OneMain in a research note on Monday, February 3rd. Royal Bank of Canada upped their target price on OneMain from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded OneMain from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, OneMain presently has an average rating of “Moderate Buy” and an average price target of $58.17.

OneMain Stock Performance

NYSE OMF traded up $0.47 on Tuesday, reaching $42.01. 338,358 shares of the stock traded hands, compared to its average volume of 1,010,414. OneMain has a 12 month low of $38.00 and a 12 month high of $58.90. The company has a fifty day moving average price of $51.90 and a 200-day moving average price of $51.99. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 0.44 and a beta of 1.35.

Insiders Place Their Bets

In other news, SVP Michael A. Hedlund sold 2,808 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $56.09, for a total transaction of $157,500.72. Following the completion of the sale, the senior vice president now owns 15,831 shares of the company’s stock, valued at $887,960.79. The trade was a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OneMain

Several institutional investors have recently bought and sold shares of OMF. Legend Financial Advisors Inc. purchased a new position in shares of OneMain in the fourth quarter valued at approximately $26,000. FNY Investment Advisers LLC purchased a new position in OneMain in the 4th quarter valued at $26,000. Albion Financial Group UT acquired a new stake in OneMain during the 4th quarter worth $26,000. Continuum Advisory LLC purchased a new stake in shares of OneMain during the third quarter worth $28,000. Finally, IFP Advisors Inc raised its position in shares of OneMain by 180.0% in the fourth quarter. IFP Advisors Inc now owns 770 shares of the financial services provider’s stock valued at $40,000 after buying an additional 495 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

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.