OneMain Holdings Inc. (OMF) Rating Lowered to Hold at Zacks Investment Research
OneMain Holdings Inc. (NYSE:OMF) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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 have also recently issued research reports about the stock. Jefferies Group restated a “buy” rating and set a $40.00 price objective on shares of OneMain Holdings in a report on Sunday, July 10th. Wedbush began coverage on shares of OneMain Holdings in a report on Monday. They set an “outperform” rating and a $45.00 price objective for the company. Barclays PLC restated an “overweight” rating and set a $36.00 price objective on shares of OneMain Holdings in a report on Friday, July 15th. Credit Suisse Group AG restated a “buy” rating on shares of OneMain Holdings in a report on Friday, August 5th. Finally, JPMorgan Chase & Co. began coverage on shares of OneMain Holdings in a report on Monday, September 12th. They set an “overweight” rating and a $38.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $40.20.
Shares of OneMain Holdings (NYSE:OMF) opened at 30.13 on Wednesday. The firm’s market cap is $4.06 billion. The company’s 50-day moving average is $30.44 and its 200 day moving average is $28.60. OneMain Holdings has a 1-year low of $18.55 and a 1-year high of $51.39.
OneMain Holdings (NYSE:OMF) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.04. OneMain Holdings had a negative net margin of 1.70% and a positive return on equity of 17.89%. During the same quarter last year, the firm posted $0.38 EPS. On average, equities research analysts expect that OneMain Holdings will post $4.25 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. First Mercantile Trust Co. acquired a new stake in shares of OneMain Holdings during the third quarter worth approximately $267,000. Springowl Associates LLC purchased a new stake in OneMain Holdings during the second quarter valued at about $984,000. Legal & General Group Plc raised its stake in OneMain Holdings by 131.6% in the second quarter. Legal & General Group Plc now owns 7,625 shares of the company’s stock valued at $174,000 after buying an additional 4,332 shares during the period. Highbridge Capital Management LLC purchased a new stake in OneMain Holdings during the second quarter valued at about $770,000. Finally, Cubist Systematic Strategies LLC raised its stake in OneMain Holdings by 60.1% in the second quarter. Cubist Systematic Strategies LLC now owns 20,902 shares of the company’s stock valued at $477,000 after buying an additional 7,848 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.
About OneMain Holdings
OneMain Holdings, Inc, formerly Springleaf Holdings, Inc, incorporated on August 5, 2013, is a financial services holding company. The Company provides responsible loan products; offers credit and non-credit insurance; pursues strategic acquisitions of loan portfolios, and pursues acquisitions of companies and/or establish joint ventures.
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