OneMain's (OMF) "Buy (B-)" Rating Reiterated at Weiss Ratings

Key Points

• OneMain's stock has retained a "Buy (B-)" rating from Weiss Ratings, indicating positive sentiment from analysts.
• Barclays has raised its target price for OneMain from $48 to $56, while JPMorgan Chase has reduced its target from $63 to $57.
• OneMain reported $1.45 earnings per share for the last quarter, exceeding estimates by $0.20, with revenues of $1.20 billion, up 7.1% year-over-year.

OneMain (NYSE:OMF - Get Free Report)'s stock had its "buy (b-)" rating restated by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other analysts also recently weighed in on OMF. Barclays lifted their target price on shares of OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $57.00 target price (down previously from $63.00) on shares of OneMain in a report on Tuesday. Finally, Wells Fargo & Company assumed coverage on shares of OneMain in a report on Monday, August 25th. They issued an "equal weight" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $60.75.

OneMain Stock Performance

Shares of NYSE OMF traded up $0.19 during midday trading on Wednesday, reaching $54.85. 47,199 shares of the stock were exchanged, compared to its average volume of 1,070,928. The company has a 50 day simple moving average of $58.87 and a 200 day simple moving average of $54.21. The stock has a market capitalization of $6.52 billion, a P/E ratio of 9.90, a PEG ratio of 0.43 and a beta of 1.32. OneMain has a twelve month low of $38.00 and a twelve month high of $63.24.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.20. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The business's revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 EPS. On average, research analysts expect that OneMain will post 6.46 earnings per share for the current year.

Insider Activity at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the transaction, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. The trade was a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OneMain

Several institutional investors have recently modified their holdings of the business. Marshall Financial Group LLC grew its stake in shares of OneMain by 4.0% in the third quarter. Marshall Financial Group LLC now owns 18,399 shares of the financial services provider's stock worth $1,039,000 after acquiring an additional 711 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in shares of OneMain by 2.5% during the third quarter. Central Pacific Bank Trust Division now owns 8,284 shares of the financial services provider's stock worth $468,000 after purchasing an additional 205 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of OneMain by 5.3% during the second quarter. Corient Private Wealth LLC now owns 25,563 shares of the financial services provider's stock worth $1,457,000 after purchasing an additional 1,281 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of OneMain by 182.5% during the second quarter. Osaic Holdings Inc. now owns 59,286 shares of the financial services provider's stock worth $3,208,000 after purchasing an additional 38,299 shares in the last quarter. Finally, Orion Porfolio Solutions LLC grew its stake in shares of OneMain by 6.3% during the second quarter. Orion Porfolio Solutions LLC now owns 18,442 shares of the financial services provider's stock worth $1,051,000 after purchasing an additional 1,099 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

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.

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