OneMain Holdings, Inc. (OMF) Lowered to Neutral at Bank of America Corporation

Bank of America Corporation cut shares of OneMain Holdings, Inc. (NYSE:OMF) from a buy rating to a neutral rating in a report released on Wednesday, November 8th, MarketBeat.com reports.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods restated a hold rating and set a $28.00 price objective on shares of OneMain in a research note on Friday, July 14th. ValuEngine cut shares of OneMain from a strong-buy rating to a buy rating in a research note on Friday, July 14th. Jefferies Group LLC reiterated a buy rating and issued a $39.00 target price (up from $30.00) on shares of OneMain in a research note on Wednesday, August 9th. Stephens upgraded shares of OneMain from an equal weight rating to an overweight rating and boosted their target price for the company from $29.00 to $35.00 in a research note on Wednesday, August 23rd. Finally, DA Davidson reiterated a buy rating and issued a $31.00 target price on shares of OneMain in a research note on Tuesday, July 18th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $32.21.

Shares of OneMain (OMF) opened at $24.25 on Wednesday. The company has a market cap of $3,324.47, a P/E ratio of 7.49, a P/E/G ratio of 1.40 and a beta of 2.87. OneMain has a 12 month low of $19.38 and a 12 month high of $33.39.

OneMain (NYSE:OMF) last released its earnings results on Wednesday, November 1st. The financial services provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.14). OneMain had a return on equity of 14.15% and a net margin of 4.85%. The company had revenue of $808.00 million during the quarter, compared to analyst estimates of $800.50 million. During the same quarter last year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. research analysts expect that OneMain will post 3.52 EPS for the current year.

In other news, Director Wesley R. Edens sold 10,000,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $26.00, for a total transaction of $260,000,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 57.73% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Phocas Financial Corp. lifted its position in OneMain by 4.5% in the second quarter. Phocas Financial Corp. now owns 192,457 shares of the financial services provider’s stock valued at $4,733,000 after buying an additional 8,330 shares during the last quarter. Tributary Capital Management LLC acquired a new position in OneMain in the third quarter valued at about $1,068,000. Dimensional Fund Advisors LP lifted its position in OneMain by 77.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,544,127 shares of the financial services provider’s stock valued at $37,971,000 after buying an additional 676,203 shares during the last quarter. Federated Investors Inc. PA lifted its position in OneMain by 46.7% in the second quarter. Federated Investors Inc. PA now owns 436,425 shares of the financial services provider’s stock valued at $10,731,000 after buying an additional 138,948 shares during the last quarter. Finally, OxFORD Asset Management LLP acquired a new position in OneMain in the second quarter valued at about $1,423,000. 96.59% of the stock is currently owned by hedge funds and other institutional investors.

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About OneMain

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.

Analyst Recommendations for OneMain (NYSE:OMF)

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