OneMain (NYSE:OMF) Rating Increased to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of OneMain (NYSE:OMF) from a hold rating to a buy rating in a report published on Friday morning, Zacks.com reports. Zacks Investment Research currently has $46.00 price objective on the financial services provider’s stock.

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. “

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. upgraded OneMain from a neutral rating to an overweight rating and lifted their price objective for the stock from $37.50 to $41.00 in a research report on Tuesday, July 16th. Piper Jaffray Companies set a $48.00 price objective on OneMain and gave the stock a buy rating in a research report on Wednesday, July 31st. Compass Point lifted their price objective on OneMain from $42.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Northland Securities upgraded OneMain from a market perform rating to an outperform rating and lifted their price objective for the stock from $38.00 to $40.00 in a research report on Wednesday, June 26th. Finally, BMO Capital Markets set a $56.00 price objective on OneMain and gave the stock a buy rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $44.70.

OneMain stock opened at $39.81 on Friday. The stock has a market cap of $5.51 billion, a PE ratio of 7.87, a PEG ratio of 0.68 and a beta of 2.43. The stock’s 50-day moving average is $35.07. OneMain has a 52 week low of $22.47 and a 52 week high of $43.28.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Monday, July 29th. The financial services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.27. The firm had revenue of $762.00 million during the quarter, compared to analysts’ expectations of $743.08 million. OneMain had a return on equity of 20.44% and a net margin of 15.98%. During the same quarter last year, the business posted $1.18 EPS. Equities analysts expect that OneMain will post 6.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Monday, August 26th. OneMain’s dividend payout ratio (DPR) is 19.76%.

A number of institutional investors and hedge funds have recently bought and sold shares of OMF. Global Retirement Partners LLC lifted its stake in shares of OneMain by 33.0% in the 1st quarter. Global Retirement Partners LLC now owns 1,430 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 355 shares in the last quarter. CWM LLC acquired a new position in shares of OneMain in the 1st quarter valued at about $79,000. Twin Tree Management LP lifted its stake in shares of OneMain by 19.4% in the 1st quarter. Twin Tree Management LP now owns 2,780 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 451 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of OneMain by 211.5% in the 1st quarter. Advisors Asset Management Inc. now owns 4,772 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 3,240 shares in the last quarter. Finally, Quantamental Technologies LLC lifted its stake in shares of OneMain by 49.1% in the 1st quarter. Quantamental Technologies LLC now owns 6,156 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 2,027 shares in the last quarter. Institutional investors own 91.02% of the company’s stock.

About OneMain

OneMain Holdings, Inc, through its subsidiaries, provides consumer finance and insurance products and services. The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing. It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.

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