OneMain Holdings Inc. (OMF) Upgraded to “Strong-Buy” at Zacks Investment Research
OneMain Holdings Inc. (NYSE:OMF) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday. The brokerage currently has a $35.00 price target on the stock. Zacks Investment Research’s price objective indicates a potential upside of 13.67% from the stock’s previous close.
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 research firms have also recently commented on OMF. Credit Suisse Group AG reiterated a “buy” rating on shares of OneMain Holdings in a research report on Friday, August 5th. Jefferies Group reiterated a “buy” rating and set a $40.00 price objective on shares of OneMain Holdings in a research report on Sunday, July 10th. Wedbush reissued an “outperform” rating and issued a $45.00 price target on shares of OneMain Holdings in a research note on Monday. JPMorgan Chase & Co. initiated coverage on OneMain Holdings in a research note on Monday, September 12th. They issued an “overweight” rating and a $38.00 price target on the stock. Finally, Barclays PLC reissued an “overweight” rating and issued a $36.00 price target on shares of OneMain Holdings in a research note on Friday, July 15th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $40.20.
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OneMain Holdings (NYSE:OMF) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by $0.04. OneMain Holdings had a positive return on equity of 17.89% and a negative net margin of 1.70%. During the same period in the previous year, the firm posted $0.38 EPS.
Institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its position in OneMain Holdings by 505.3% in the second quarter. Pacer Advisors Inc. now owns 5,375 shares of the company’s stock valued at $122,000 after buying an additional 4,487 shares in the last quarter. Royal Bank of Canada raised its position in OneMain Holdings by 45.0% in the first quarter. Royal Bank of Canada now owns 5,365 shares of the company’s stock valued at $147,000 after buying an additional 1,664 shares in the last quarter. Legal & General Group Plc raised its position in OneMain Holdings by 131.6% in the second quarter. Legal & General Group Plc now owns 7,625 shares of the company’s stock valued at $174,000 after buying an additional 4,332 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in OneMain Holdings during the second quarter valued at $185,000. Finally, Teacher Retirement System of Texas raised its position in OneMain Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 8,488 shares of the company’s stock valued at $194,000 after buying an additional 1,030 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.
About OneMain Holdings
OneMain Holdings, Inc, formerly Springleaf Holdings, Inc, incorporated on August 5, 2013, is a financial services holding company. The Company provides responsible loan products; offers credit and non-credit insurance; pursues strategic acquisitions of loan portfolios, and pursues acquisitions of companies and/or establish joint ventures.
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