OneMain (NYSE:OMF) Upgraded at Zacks Investment Research


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OneMain (NYSE:OMF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage presently has a $55.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 6.49% from the stock’s current price.

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. “

A number of other analysts have also issued reports on OMF. JPMorgan Chase & Co. lifted their price target on shares of OneMain from $29.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Royal Bank of Canada lifted their price target on shares of OneMain from $37.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 28th. TheStreet upgraded shares of OneMain from a “c+” rating to a “b-” rating in a research note on Thursday, September 17th. Barclays upgraded shares of OneMain from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $42.00 to $63.00 in a research note on Thursday, December 10th. Finally, Piper Sandler boosted their target price on shares of OneMain from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. One analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the company’s stock. OneMain currently has a consensus rating of “Buy” and a consensus target price of $46.29.

OMF opened at $51.65 on Tuesday. The firm has a market capitalization of $6.94 billion, a P/E ratio of 11.16 and a beta of 2.35. The firm’s 50 day moving average is $44.81 and its 200-day moving average is $34.65. OneMain has a 52-week low of $12.21 and a 52-week high of $52.16.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Saturday, October 31st. The financial services provider reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.93. The company had revenue of $935.00 million for the quarter, compared to analyst estimates of $938.42 million. OneMain had a net margin of 13.95% and a return on equity of 18.05%. During the same quarter last year, the firm posted $1.77 earnings per share. As a group, analysts forecast that OneMain will post 3.57 earnings per share for the current year.

In other OneMain news, Director Jay N. Levine sold 54,276 shares of the business’s stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $40.19, for a total transaction of $2,181,352.44. Following the completion of the transaction, the director now directly owns 2,103,519 shares of the company’s stock, valued at approximately $84,540,428.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay N. Levine sold 15,724 shares of the business’s stock in a transaction dated Wednesday, November 18th. The shares were sold at an average price of $40.33, for a total transaction of $634,148.92. Following the transaction, the director now directly owns 2,157,795 shares of the company’s stock, valued at $87,023,872.35. The disclosure for this sale can be found here. Insiders own 2.45% of the company’s stock.

A number of institutional investors have recently bought and sold shares of OMF. Nuveen Asset Management LLC boosted its stake in OneMain by 93.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,111,697 shares of the financial services provider’s stock valued at $51,821,000 after purchasing an additional 1,018,137 shares during the period. Columbus Circle Investors boosted its stake in OneMain by 1,911.8% during the 3rd quarter. Columbus Circle Investors now owns 829,435 shares of the financial services provider’s stock valued at $25,920,000 after purchasing an additional 788,207 shares during the period. Azora Capital LP acquired a new position in OneMain during the 3rd quarter valued at about $13,138,000. Skandinaviska Enskilda Banken AB publ boosted its stake in OneMain by 22,869.2% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 298,600 shares of the financial services provider’s stock valued at $9,331,000 after purchasing an additional 297,300 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in OneMain by 36.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,097,984 shares of the financial services provider’s stock valued at $34,312,000 after purchasing an additional 294,727 shares during the period. 83.98% of the stock is owned by hedge funds and other institutional investors.

OneMain Company Profile

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses. The company originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or are unsecured. It also offers credit insurance products comprising life, disability, and involuntary unemployment insurance; non-credit insurance; and optional home and auto membership plans.

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