Wall Street Zen Downgrades OneMain (NYSE:OMF) to Hold

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

OMF has been the topic of a number of other reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of OneMain in a research note on Monday, December 29th. Cowen reiterated a “buy” rating on shares of OneMain in a research report on Thursday, January 8th. Truist Financial assumed coverage on OneMain in a research note on Monday, December 8th. They set a “buy” rating and a $75.00 target price for the company. Citigroup reaffirmed a “market outperform” rating on shares of OneMain in a research note on Monday, November 24th. Finally, Citizens Jmp cut their price objective on OneMain from $70.00 to $68.00 and set a “market outperform” rating for the company in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, OneMain presently has a consensus rating of “Moderate Buy” and an average target price of $71.30.

OneMain Stock Performance

Shares of OneMain stock opened at $65.50 on Friday. OneMain has a one year low of $38.00 and a one year high of $71.93. The company has a 50-day simple moving average of $65.29 and a two-hundred day simple moving average of $60.76. The company has a market capitalization of $7.71 billion, a PE ratio of 11.10, a P/E/G ratio of 0.36 and a beta of 1.33.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.32. OneMain had a net margin of 13.15% and a return on equity of 22.70%. The firm had revenue of $747.00 million for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the company earned $1.31 earnings per share. On average, equities analysts predict that OneMain will post 6.46 earnings per share for the current fiscal year.

Insider Activity at OneMain

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $59.20, for a total value of $296,000.00. Following the sale, the chief operating officer directly owned 88,221 shares in the company, valued at $5,222,683.20. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael A. Hedlund sold 652 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $62.00, for a total transaction of $40,424.00. Following the completion of the sale, the senior vice president directly owned 15,179 shares in the company, valued at approximately $941,098. The trade was a 4.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 98,152 shares of company stock valued at $6,353,899 in the last 90 days. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On OneMain

Large investors have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new position in shares of OneMain in the 3rd quarter valued at $26,000. Activest Wealth Management increased its holdings in OneMain by 1,102.1% in the third quarter. Activest Wealth Management now owns 577 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 529 shares during the last quarter. Bayforest Capital Ltd increased its holdings in OneMain by 591.8% in the third quarter. Bayforest Capital Ltd now owns 671 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 574 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in OneMain by 57.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 718 shares of the financial services provider’s stock valued at $40,000 after buying an additional 262 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in shares of OneMain during the 3rd quarter worth about $46,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

OneMain Company Profile

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.