J.P. Morgan Thinks OneMain Holdings’ Stock is Going to Recover

In a report issued on July 29, Richard Shane from J.P. Morgan maintained a Buy rating on OneMain Holdings (OMFResearch Report), with a price target of $48.00. The company’s shares closed last Friday at $37.20, close to its 52-week low of $34.22.

According to TipRanks.com, Shane is a 5-star analyst with an average return of 14.1% and a 67.3% success rate. Shane covers the Financial sector, focusing on stocks such as Claros Mortgage Trust, Inc., Discover Financial Services, and Kkr Real Estate Finance.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for OneMain Holdings with a $52.00 average price target, which is a 39.7% upside from current levels. In a report issued on July 15, Citigroup also maintained a Buy rating on the stock with a $43.00 price target.

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Based on OneMain Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.04 billion and net profit of $209 million. In comparison, last year the company earned revenue of $991 million and had a net profit of $350 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OMF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

OneMain Holdings, Inc. is a consumer finance company, which provides origination, underwriting and servicing of personal loans, primarily to non-prime customers. It operates through the following the Consumer and Insurance, and Other segments. The Consumer and Insurance segment comprises of service secured and unsecured personal loans, voluntary credit and non-credit insurance, and related products through its combined branch network, digital platform, and centralized operations. The Other segment consists of the liquidation of SpringCastle Portfolio activities and non-orginating operations. The company was founded on August 5, 2013 and is headquartered in Evansville, IN.

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