OneMain (NYSE:OMF) Downgraded by Barclays to “Equal Weight”

OneMain (NYSE:OMF) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, FinViz reports. They presently have a $46.00 price target on the financial services provider’s stock, down from their prior price target of $52.00. Barclays‘s target price indicates a potential downside of 2.09% from the stock’s current price.

Several other research firms have also recently issued reports on OMF. Royal Bank of Canada reiterated an “outperform” rating and set a $60.00 price objective on shares of OneMain in a research report on Tuesday, September 17th. Northland Securities raised their price objective on OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their target price on OneMain from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price target on shares of OneMain in a research note on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of OneMain from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.50.

OneMain Stock Performance

OMF stock opened at $46.98 on Tuesday. The business’s 50-day moving average is $46.99 and its two-hundred day moving average is $48.58. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 0.81 and a beta of 1.56. OneMain has a fifty-two week low of $35.00 and a fifty-two week high of $54.94.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, topping the consensus estimate of $0.90 by $0.12. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. OneMain had a return on equity of 20.63% and a net margin of 12.33%. During the same period in the prior year, the business posted $1.01 EPS. Equities analysts predict that OneMain will post 5.11 earnings per share for the current year.

Insider Activity

In other news, COO Micah R. Conrad sold 2,500 shares of OneMain stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total value of $114,375.00. Following the sale, the chief operating officer now owns 117,025 shares in the company, valued at $5,353,893.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Michael A. Hedlund sold 2,400 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $46.00, for a total value of $110,400.00. Following the completion of the sale, the senior vice president now directly owns 25,747 shares in the company, valued at $1,184,362. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Micah R. Conrad sold 2,500 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $45.75, for a total transaction of $114,375.00. Following the completion of the sale, the chief operating officer now owns 117,025 shares of the company’s stock, valued at approximately $5,353,893.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,300 shares of company stock worth $1,534,275 in the last quarter. Corporate insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On OneMain

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in OneMain by 3.1% in the first quarter. Vanguard Group Inc. now owns 12,317,755 shares of the financial services provider’s stock valued at $629,314,000 after purchasing an additional 373,900 shares during the period. Capital International Investors grew its position in OneMain by 10.2% in the 1st quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock valued at $488,937,000 after acquiring an additional 889,387 shares in the last quarter. Brave Warrior Advisors LLC increased its stake in OneMain by 21.1% during the fourth quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock worth $315,707,000 after purchasing an additional 1,118,166 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of OneMain by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,288,643 shares of the financial services provider’s stock worth $159,465,000 after purchasing an additional 270,207 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of OneMain by 1.3% in the second quarter. Clearbridge Investments LLC now owns 1,914,355 shares of the financial services provider’s stock valued at $92,827,000 after purchasing an additional 24,338 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

About OneMain

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.