OneMain (OMF) Upgraded at Zacks Investment Research

OneMain (NYSE:OMF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, August 7th. The brokerage presently has a $40.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 8.99% from the stock’s current price.

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. “

Other research analysts also recently issued reports about the company. Barclays set a $39.00 target price on OneMain and gave the stock an “equal weight” rating in a report on Friday, July 20th. ValuEngine downgraded OneMain from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Citigroup raised OneMain from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Friday, April 20th. Finally, BMO Capital Markets boosted their price objective on OneMain from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. OneMain has an average rating of “Buy” and an average target price of $37.75.

OMF traded up $0.05 during midday trading on Tuesday, hitting $36.70. 309,500 shares of the company were exchanged, compared to its average volume of 633,051. The company has a market capitalization of $4.93 billion, a PE ratio of 10.33, a PEG ratio of 0.97 and a beta of 2.68. OneMain has a 1-year low of $23.68 and a 1-year high of $37.29.

OneMain (NYSE:OMF) last announced its earnings results on Monday, July 30th. The financial services provider reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.04. The firm had revenue of $685.00 million for the quarter, compared to the consensus estimate of $676.82 million. OneMain had a return on equity of 17.55% and a net margin of 6.41%. During the same period in the previous year, the business earned $0.81 EPS. equities research analysts forecast that OneMain will post 4.97 EPS for the current fiscal year.

In other OneMain news, SVP Michael A. Hedlund sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $35.41, for a total transaction of $88,525.00. Following the completion of the sale, the senior vice president now directly owns 7,644 shares of the company’s stock, valued at approximately $270,674.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fortress Investment Group Llc sold 54,937,500 shares of the business’s stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $26.00, for a total value of $1,428,375,000.00. The disclosure for this sale can be found here. Insiders own 43.93% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in shares of OneMain by 14.1% in the first quarter. Stifel Financial Corp now owns 15,081 shares of the financial services provider’s stock valued at $448,000 after acquiring an additional 1,863 shares in the last quarter. Meadow Creek Investment Management LLC grew its holdings in shares of OneMain by 25.3% in the second quarter. Meadow Creek Investment Management LLC now owns 9,584 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 1,936 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of OneMain by 36.6% in the second quarter. Great West Life Assurance Co. Can now owns 8,122 shares of the financial services provider’s stock valued at $270,000 after acquiring an additional 2,178 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of OneMain by 41.5% in the second quarter. State of Alaska Department of Revenue now owns 7,780 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 2,280 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of OneMain by 24.3% in the second quarter. Xact Kapitalforvaltning AB now owns 12,781 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 2,500 shares in the last quarter. 90.50% of the stock is owned by institutional investors.

OneMain Company Profile

OneMain Holdings, Inc, through its subsidiaries, provides consumer finance and insurance products and services. The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing. It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.

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