OneMain (NYSE:OMF) Downgraded by StockNews.com

StockNews.com cut shares of OneMain (NYSE:OMF) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Several other brokerages have also issued reports on OMF. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 target price on shares of OneMain in a research note on Wednesday, October 16th. Wells Fargo & Company cut their price objective on shares of OneMain from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday, October 14th. Northland Securities boosted their target price on OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. cut their price target on OneMain from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Finally, Barclays downgraded OneMain from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $52.00 to $46.00 in a report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

OneMain Price Performance

OneMain stock opened at $47.47 on Friday. The firm has a market cap of $5.69 billion, a P/E ratio of 9.26, a P/E/G ratio of 0.89 and a beta of 1.56. The stock’s 50 day moving average is $46.98 and its 200 day moving average is $48.29. OneMain has a one year low of $35.13 and a one year high of $54.94.

OneMain (NYSE:OMF) last released its earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.12. OneMain had a net margin of 12.33% and a return on equity of 20.63%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $918.74 million. During the same quarter in the previous year, the business earned $1.01 earnings per share. Equities analysts anticipate that OneMain will post 4.91 earnings per share for the current fiscal year.

Insider Transactions at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 15,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $46.30, for a total value of $694,500.00. Following the sale, the chief executive officer now directly owns 422,474 shares in the company, valued at $19,560,546.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Douglas H. Shulman sold 5,000 shares of OneMain stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the transaction, the chief executive officer now directly owns 417,474 shares in the company, valued at approximately $20,873,700. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 value of $694,500.00. Following the completion of the transaction, the chief executive officer now directly owns 422,474 shares of the company’s stock, valued at $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 sold a total of 32,300 shares of company stock worth $1,534,275 in the last quarter. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On OneMain

A number of large investors have recently modified their holdings of OMF. EdgeRock Capital LLC bought a new stake in OneMain during the second quarter valued at $31,000. International Assets Investment Management LLC purchased a new position in shares of OneMain during the second quarter worth about $34,000. Blue Trust Inc. grew its holdings in shares of OneMain by 43.4% during the second quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 225 shares in the last quarter. Abich Financial Wealth Management LLC increased its position in shares of OneMain by 46.1% in the first quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 304 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in OneMain by 32.6% in the second quarter. UMB Bank n.a. now owns 1,779 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 437 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors.

OneMain Company Profile

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.