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

OneMain (NYSE:OMF) had its target price boosted by equities researchers at Wells Fargo & Company from $52.00 to $57.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 1.91% from the company’s previous close.

OMF has been the topic of several other research reports. JPMorgan Chase & Co. cut their price target on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Compass Point increased their price target on OneMain from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stephens assumed coverage on OneMain in a research note on Wednesday, November 13th. They set an “overweight” rating and a $62.00 price objective on the stock. StockNews.com lowered OneMain from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, JMP Securities increased their price objective on shares of OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.69.

OneMain Stock Up 2.2 %

Shares of OMF traded up $1.18 during mid-day trading on Tuesday, hitting $55.93. The company had a trading volume of 222,688 shares, compared to its average volume of 778,591. OneMain has a 1-year low of $41.70 and a 1-year high of $57.97. The business’s 50-day simple moving average is $54.44 and its 200-day simple moving average is $50.37. The stock has a market cap of $6.68 billion, a PE ratio of 12.23, a P/E/G ratio of 0.48 and a beta of 1.58.

Insider Activity

In related news, COO Micah R. Conrad sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total value of $130,000.00. Following the sale, the chief operating officer now owns 102,239 shares of the company’s stock, valued at approximately $5,316,428. This trade represents a 2.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas H. Shulman sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $53.00, for a total value of $265,000.00. Following the transaction, the chief executive officer now owns 412,474 shares of the company’s stock, valued at $21,861,122. This represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,492 shares of company stock worth $1,582,384. 0.45% of the stock is currently owned by insiders.

Institutional Trading of OneMain

Hedge funds have recently added to or reduced their stakes in the business. Quantinno Capital Management LP increased its position in shares of OneMain by 0.7% during the 3rd quarter. Quantinno Capital Management LP now owns 27,732 shares of the financial services provider’s stock valued at $1,305,000 after purchasing an additional 204 shares during the period. UMB Bank n.a. boosted its stake in OneMain by 13.9% during the third quarter. UMB Bank n.a. now owns 2,026 shares of the financial services provider’s stock valued at $95,000 after buying an additional 247 shares in the last quarter. Abich Financial Wealth Management LLC grew its holdings in OneMain by 27.4% during the second quarter. Abich Financial Wealth Management LLC now owns 1,227 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 264 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in OneMain by 13.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 271 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in OneMain by 4.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,666 shares of the financial services provider’s stock valued at $314,000 after acquiring an additional 304 shares during the last quarter. 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.