Trading Report: The OneMain Holdings Inc. (OMF) Stock Rating Upgraded by Zacks Investment Research

The OneMain Holdings Inc. (OMF) Stock Rating Upgraded by 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 firm currently has a $35.00 target price on the stock. Zacks Investment Research’s price target would indicate a potential upside of 17.25% from the company’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. “

Other analysts also recently issued research reports about the stock. Jefferies Group reaffirmed a “buy” rating and set a $40.00 price target on shares of OneMain Holdings in a research note on Sunday, July 10th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of OneMain Holdings in a research note on Friday, August 5th. Wedbush initiated coverage on shares of OneMain Holdings in a research note on Monday. They set an “outperform” rating and a $45.00 price target for the company. JPMorgan Chase & Co. initiated coverage on shares of OneMain Holdings in a research note on Monday, September 12th. They set an “overweight” rating and a $38.00 price target for the company. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $36.00 price target on shares of OneMain Holdings in a research note on Friday, July 15th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. OneMain Holdings currently has a consensus rating of “Buy” and an average price target of $40.20.

Shares of OneMain Holdings (NYSE:OMF) opened at 29.85 on Tuesday. The firm’s 50-day moving average price is $30.43 and its 200 day moving average price is $28.61. OneMain Holdings has a 52 week low of $18.55 and a 52 week high of $51.39. The stock’s market capitalization is $4.02 billion.

OneMain Holdings (NYSE:OMF) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.04. OneMain Holdings had a negative net margin of 1.70% and a positive return on equity of 17.89%. During the same quarter in the prior year, the company posted $0.38 EPS. Analysts expect that OneMain Holdings will post $4.25 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. purchased a new position in OneMain Holdings during the third quarter valued at about $267,000. Springowl Associates LLC purchased a new position in OneMain Holdings during the second quarter valued at about $984,000. 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. Highbridge Capital Management LLC purchased a new position in OneMain Holdings during the second quarter valued at about $770,000. Finally, Cubist Systematic Strategies LLC raised its position in OneMain Holdings by 60.1% in the second quarter. Cubist Systematic Strategies LLC now owns 20,902 shares of the company’s stock valued at $477,000 after buying an additional 7,848 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

OneMain Holdings Company Profile

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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