Today, Guggenheim Downgraded OneMain Holdings Inc. (OMF) to Neutral

Today, Guggenheim Downgraded OneMain Holdings Inc. (OMF) to Neutral
OneMain Holdings Inc. (NYSE:OMF) was downgraded by Guggenheim from a “buy” rating to a “neutral” rating in a report released on Tuesday. They presently have a $25.00 price objective on the stock, down from their prior price objective of $38.00. Guggenheim’s price objective would indicate a potential upside of 25.00% from the company’s current price.

Several other analysts have also recently commented on the company. Keefe, Bruyette & Woods cut OneMain Holdings from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $41.00 to $24.00 in a report on Tuesday, November 8th. Bank of America Corp. cut OneMain Holdings from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $35.00 to $21.00 in a report on Tuesday, November 8th. JPMorgan Chase & Co. initiated coverage on OneMain Holdings in a report on Monday, September 12th. They set an “overweight” rating and a $38.00 target price on the stock. Wedbush initiated coverage on OneMain Holdings in a report on Monday, October 10th. They set an “outperform” rating and a $45.00 target price on the stock. Finally, Zacks Investment Research cut OneMain Holdings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.75.

Shares of OneMain Holdings (NYSE:OMF) traded down 2.44% during midday trading on Tuesday, reaching $20.00. 432,925 shares of the company’s stock traded hands. The firm’s market capitalization is $2.70 billion. The stock’s 50 day moving average price is $25.62 and its 200 day moving average price is $27.81. OneMain Holdings has a 52-week low of $16.03 and a 52-week high of $49.56.

OneMain Holdings (NYSE:OMF) last announced its earnings results on Monday, November 7th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.07 by $0.17. OneMain Holdings had a positive return on equity of 19.47% and a negative net margin of 0.44%. During the same period in the prior year, the firm posted $0.36 EPS. On average, equities research analysts anticipate that OneMain Holdings will post $3.70 EPS for the current fiscal year.

In other news, EVP John Charles Anderson purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were acquired at an average price of $18.06 per share, for a total transaction of $361,200.00. Following the completion of the acquisition, the executive vice president now directly owns 1,192,917 shares in the company, valued at $21,544,081.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David P. Hogan purchased 4,810 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The stock was purchased at an average price of $20.79 per share, for a total transaction of $99,999.90. Following the acquisition, the executive vice president now owns 116,602 shares of the company’s stock, valued at $2,424,155.58. The disclosure for this purchase can be found here. 57.81% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of OMF. The Manufacturers Life Insurance Company purchased a new position in OneMain Holdings during the third quarter valued at about $116,000. 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 during the last quarter. Reliance Trust Co. of Delaware bought a new position in OneMain Holdings during the third quarter valued at $215,000. M&T Bank Corp bought a new position in OneMain Holdings during the third quarter valued at $223,000. Finally, 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 during the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

OneMain Holdings Company Profile

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