OneMain (OMF) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of OneMain (NYSE:OMF) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “OneMain Holdings Inc. is a consumer financial services holding company. The Company’s operating segments consists of Consumer and Insurance, Acquisitions and Servicing and Real Estate. OneMain Holdings Inc., formerly known as Springleaf Holdings, Inc. is based in Evansville, United States. “

Several other research firms have also recently issued reports on OMF. Citigroup started coverage on OneMain in a research note on Monday, October 16th. They set a neutral rating and a $35.00 target price for the company. Compass Point raised OneMain from a neutral rating to a buy rating in a research note on Thursday, January 4th. Barclays reissued a hold rating and set a $35.00 target price on shares of OneMain in a research note on Wednesday, December 13th. Bank of America raised OneMain from a neutral rating to a buy rating and set a $41.00 target price for the company in a research note on Thursday, January 4th. Finally, BMO Capital Markets raised their target price on OneMain from $31.00 to $34.00 and gave the stock an outperform rating in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. OneMain presently has a consensus rating of Hold and an average target price of $34.00.

OneMain (NYSE OMF) traded up $0.57 during mid-day trading on Tuesday, reaching $34.09. The company’s stock had a trading volume of 605,400 shares, compared to its average volume of 1,983,300. The firm has a market capitalization of $4,620.00, a PE ratio of 27.06, a price-to-earnings-growth ratio of 1.64 and a beta of 2.72. OneMain has a one year low of $21.56 and a one year high of $35.11.

OneMain (NYSE:OMF) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.14). The business had revenue of $808.00 million for the quarter, compared to analyst estimates of $800.50 million. OneMain had a return on equity of 14.15% and a net margin of 4.85%. OneMain’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. research analysts anticipate that OneMain will post 3.52 EPS for the current fiscal year.

In other news, Director Wesley R. Edens sold 10,000,000 shares of OneMain stock in a transaction on Friday, November 10th. The stock was sold at an average price of $26.00, for a total value of $260,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wesley R. Edens sold 1,000,000 shares of OneMain stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $26.00, for a total value of $26,000,000.00. The disclosure for this sale can be found here. Insiders sold 18,500,000 shares of company stock valued at $474,250,000 over the last ninety days. Insiders own 57.73% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of OneMain by 103.0% in the second quarter. JPMorgan Chase & Co. now owns 4,336 shares of the financial services provider’s stock valued at $107,000 after buying an additional 2,200 shares in the last quarter. SG Americas Securities LLC purchased a new position in OneMain in the third quarter valued at $119,000. Cubist Systematic Strategies LLC purchased a new position in OneMain in the second quarter valued at $132,000. Pacer Advisors Inc. boosted its holdings in OneMain by 12.0% in the second quarter. Pacer Advisors Inc. now owns 7,261 shares of the financial services provider’s stock valued at $179,000 after purchasing an additional 779 shares during the period. Finally, Virginia Retirement Systems ET AL purchased a new position in OneMain in the third quarter valued at $206,000. 95.81% of the stock is owned by institutional investors and hedge funds.

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OneMain Company Profile

OneMain Holdings, Inc is a financial services holding company. The Company is a consumer finance company, which is engaged in providing personal loan products; credit and non-credit insurance, and service loans owned by it and service or subservice loans owned by third-parties. The Company’s segments include Consumer and Insurance; Acquisitions and Servicing; Real Estate, and Other.

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