OneMain (OMF) Upgraded by Bank of America to “Buy”
OneMain (NYSE:OMF) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, The Fly reports.
Several other equities research analysts also recently weighed in on the stock. Compass Point raised shares of OneMain from a “neutral” rating to a “buy” rating in a research note on Thursday. Barclays reaffirmed a “hold” rating and issued a $35.00 price target on shares of OneMain in a research note on Wednesday, December 13th. ValuEngine downgraded shares of OneMain from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. BMO Capital Markets reaffirmed a “buy” rating on shares of OneMain in a research note on Monday, November 6th. Finally, Northland Securities reissued a “hold” rating and set a $35.00 target price on shares of OneMain in a research report on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $32.85.
OneMain (OMF) traded up $0.34 on Thursday, reaching $26.64. 1,045,100 shares of the company’s stock traded hands, compared to its average volume of 1,144,200. OneMain has a 12-month low of $21.56 and a 12-month high of $33.39. The company has a market capitalization of $4,660.00, a P/E ratio of 21.14, a P/E/G ratio of 1.28 and a beta of 2.72.
OneMain (NYSE:OMF) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.14). OneMain had a net margin of 4.85% and a return on equity of 14.15%. The company had revenue of $808.00 million during the quarter, compared to the consensus estimate of $800.50 million. During the same period last year, the firm posted $0.90 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. equities research analysts expect that OneMain will post 3.52 earnings per share for the current year.
In related news, Director Fortress Investment Group Llc sold 7,500,000 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $25.10, for a total transaction of $188,250,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Wesley R. Edens sold 10,000,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $26.00, for a total transaction of $260,000,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,500,000 shares of company stock valued at $474,250,000. 57.73% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in OMF. FMR LLC boosted its holdings in OneMain by 7.9% during the second quarter. FMR LLC now owns 10,776,907 shares of the financial services provider’s stock worth $265,004,000 after purchasing an additional 789,858 shares during the last quarter. Gruss Capital Management LP purchased a new position in OneMain during the second quarter worth about $17,483,000. Dimensional Fund Advisors LP boosted its holdings in OneMain by 77.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,544,127 shares of the financial services provider’s stock worth $37,971,000 after purchasing an additional 676,203 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in OneMain by 1,353.1% during the third quarter. Point72 Asset Management L.P. now owns 303,700 shares of the financial services provider’s stock worth $8,561,000 after purchasing an additional 282,800 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in OneMain by 4.1% during the second quarter. Vanguard Group Inc. now owns 4,401,256 shares of the financial services provider’s stock worth $108,227,000 after purchasing an additional 172,224 shares during the last quarter. Institutional investors and hedge funds own 95.81% of the company’s stock.
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OneMain Holdings, Inc is a financial services holding company. The Company is a consumer finance company, which is engaged in providing personal loan products; credit and non-credit insurance, and service loans owned by it and service or subservice loans owned by third-parties. The Company’s segments include Consumer and Insurance; Acquisitions and Servicing; Real Estate, and Other.
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