OneMain (NYSE:OMF) Upgraded by Wall Street Zen to “Buy” Rating

OneMain (NYSE:OMF) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

OMF has been the topic of several other research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of OneMain in a research report on Friday. Barclays raised their price objective on OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Wells Fargo & Company started coverage on OneMain in a research note on Monday, August 25th. They issued an “equal weight” rating for the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 price objective (down from $63.00) on shares of OneMain in a research note on Tuesday, October 7th. Finally, JMP Securities lowered their target price on OneMain from $65.00 to $63.00 and set a “market outperform” rating on the stock in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, OneMain has an average rating of “Moderate Buy” and an average target price of $60.14.

OneMain Trading Up 6.1%

NYSE OMF opened at $59.15 on Friday. The business’s 50 day moving average is $58.36 and its two-hundred day moving average is $55.39. OneMain has a 12-month low of $38.00 and a 12-month high of $63.24. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.45 and a beta of 1.32.

OneMain (NYSE:OMF) last released its earnings results on Friday, October 31st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.32. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. Equities analysts forecast that OneMain will post 6.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OMF. Geneos Wealth Management Inc. raised its holdings in OneMain by 9.1% during the second quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 176 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in OneMain by 0.8% during the third quarter. KLP Kapitalforvaltning AS now owns 24,800 shares of the financial services provider’s stock worth $1,400,000 after purchasing an additional 200 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in 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. Forum Financial Management LP raised its holdings in OneMain by 4.6% during the second quarter. Forum Financial Management LP now owns 4,749 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 209 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in OneMain by 2.3% during the third quarter. Evergreen Capital Management LLC now owns 10,579 shares of the financial services provider’s stock worth $597,000 after purchasing an additional 233 shares in the last quarter. Hedge funds and other institutional investors 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.