StockNews.com Downgrades OneMain (NYSE:OMF) to Hold

OneMain (NYSE:OMF) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other analysts have also recently commented on the stock. Barclays cut shares of OneMain from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $52.00 to $46.00 in a research note on Tuesday, October 8th. JMP Securities reissued a “market outperform” rating and set a $60.00 price target on shares of OneMain in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of OneMain from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Wells Fargo & Company decreased their price target on shares of OneMain from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Monday, October 14th. Finally, Northland Securities increased their price target on shares of OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, OneMain presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

OneMain Trading Down 0.1 %

NYSE OMF opened at $46.47 on Friday. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.89 and a beta of 1.56. The company has a 50 day moving average of $46.97 and a 200-day moving average of $48.28. OneMain has a 1-year low of $35.00 and a 1-year high of $54.94.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.12. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.63%. During the same quarter last year, the business posted $1.01 earnings per share. On average, analysts forecast that OneMain will post 4.91 earnings per share for the current year.

Insider Transactions at OneMain

In other news, COO Micah R. Conrad sold 2,500 shares of OneMain stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total transaction of $114,375.00. Following the transaction, the chief operating officer now directly owns 117,025 shares of the company’s stock, valued at $5,353,893.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Micah R. Conrad sold 2,500 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total transaction of $114,375.00. Following the sale, the chief operating officer now directly owns 117,025 shares in the company, valued at $5,353,893.75. This trade represents a 0.00 % 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, CEO Douglas H. Shulman sold 15,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $46.30, for a total transaction of $694,500.00. Following the sale, the chief executive officer now owns 422,474 shares in the company, valued at approximately $19,560,546.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,300 shares of company stock valued at $1,534,275 over the last three months. 0.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OneMain

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its stake in OneMain by 6.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the financial services provider’s stock valued at $171,000 after buying an additional 200 shares during the last quarter. Aviance Capital Partners LLC boosted its holdings in OneMain by 1.3% in the 1st quarter. Aviance Capital Partners LLC now owns 26,724 shares of the financial services provider’s stock valued at $1,365,000 after purchasing an additional 352 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in OneMain by 2.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 44,557 shares of the financial services provider’s stock valued at $2,276,000 after purchasing an additional 1,025 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in OneMain by 6.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 36,536 shares of the financial services provider’s stock valued at $1,867,000 after purchasing an additional 2,367 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in OneMain by 6.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 10,234 shares of the financial services provider’s stock valued at $523,000 after purchasing an additional 622 shares during the period. 85.82% of the stock is currently owned by institutional investors and hedge funds.

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.