OneMain (NYSE:OMF) Rating Lowered to “Hold” at Wall Street Zen

OneMain (NYSE:OMF) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

OMF has been the subject of a number of other research reports. Barclays increased their target price on OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $57.00 target price (down previously from $63.00) on shares of OneMain in a report on Tuesday, October 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of OneMain in a report on Wednesday, October 8th. Finally, Wells Fargo & Company started coverage on OneMain in a report on Monday, August 25th. They set an “equal weight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.75.

OneMain Trading Down 5.1%

NYSE OMF opened at $52.15 on Friday. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 0.42 and a beta of 1.32. OneMain has a twelve month low of $38.00 and a twelve month high of $63.24. The stock has a 50-day moving average of $58.73 and a 200 day moving average of $54.28.

OneMain (NYSE:OMF) last announced its earnings results on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.20. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. Equities analysts predict that OneMain will post 6.46 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas H. Shulman sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the sale, the chief executive officer directly owned 275,100 shares in the company, valued at $16,360,197. This represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OMF. Park Avenue Securities LLC grew its position in OneMain by 12.7% in the first quarter. Park Avenue Securities LLC now owns 9,900 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 1,116 shares during the period. Farther Finance Advisors LLC grew its position in OneMain by 198.2% in the first quarter. Farther Finance Advisors LLC now owns 1,670 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 1,110 shares during the period. GAMMA Investing LLC grew its position in OneMain by 191.9% in the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 662 shares during the period. SG Americas Securities LLC grew its position in OneMain by 171.9% in the first quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider’s stock worth $532,000 after acquiring an additional 6,875 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in OneMain by 8.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,269 shares of the financial services provider’s stock worth $697,000 after acquiring an additional 1,147 shares during the period. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

About OneMain

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.