Zacks Investment Research Upgrades OneMain (OMF) to Hold
Zacks Investment Research upgraded shares of OneMain (NYSE:OMF) from a sell rating to a hold rating in a research report released 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. “
A number of other research analysts have also weighed in on OMF. ValuEngine raised shares of OneMain from a hold rating to a buy rating in a research report on Monday, October 2nd. Bank of America set a $35.00 target price on shares of OneMain and gave the stock a buy rating in a research report on Friday, October 13th. Citigroup started coverage on shares of OneMain in a research report on Monday, October 16th. They set a neutral rating and a $35.00 target price for the company. Compass Point lowered shares of OneMain from a buy rating to a neutral rating and set a $31.00 target price for the company. in a research report on Friday, November 3rd. Finally, Northland Securities reissued a hold rating and set a $35.00 target price on shares of OneMain in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. OneMain has a consensus rating of Hold and an average price target of $34.00.
OneMain (NYSE:OMF) last released its earnings results on Wednesday, November 1st. The financial services provider reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.14). The firm 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%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. research analysts expect that OneMain will post 3.52 EPS for the current year.
In other news, Director Fortress Investment Group Llc sold 7,500,000 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $25.10, for a total transaction of $188,250,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wesley R. Edens sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $26.00, for a total transaction of $26,000,000.00. The disclosure for this sale can be found here. Insiders have sold 18,500,000 shares of company stock valued at $474,250,000 in the last ninety days. 57.73% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Phocas Financial Corp. raised its position in shares of OneMain by 4.5% during the second quarter. Phocas Financial Corp. now owns 192,457 shares of the financial services provider’s stock valued at $4,733,000 after buying an additional 8,330 shares during the last quarter. Tributary Capital Management LLC acquired a new position in shares of OneMain during the third quarter valued at about $1,068,000. Prudential Financial Inc. acquired a new position in shares of OneMain during the third quarter valued at about $583,000. HL Financial Services LLC raised its position in shares of OneMain by 65.4% during the third quarter. HL Financial Services LLC now owns 55,400 shares of the financial services provider’s stock valued at $1,562,000 after buying an additional 21,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of OneMain by 77.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,544,127 shares of the financial services provider’s stock valued at $37,971,000 after buying an additional 676,203 shares during the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.
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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