StockNews.com Upgrades OneMain (NYSE:OMF) to “Buy”

OneMain (NYSE:OMF) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

A number of other research analysts also recently issued reports on OMF. JMP Securities reiterated a “market outperform” rating and set a $65.00 target price on shares of OneMain in a research report on Monday. Royal Bank of Canada increased their price objective on shares of OneMain from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday. Wells Fargo & Company raised their target price on OneMain from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. dropped their price target on OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Finally, Barclays cut OneMain from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $52.00 to $46.00 in a research note on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.15.

OneMain Stock Up 0.7 %

OMF opened at $54.92 on Monday. OneMain has a twelve month low of $41.70 and a twelve month high of $58.90. The company has a fifty day moving average of $54.70 and a 200-day moving average of $50.90. The stock has a market cap of $6.55 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 0.48 and a beta of 1.59.

Insider Buying and Selling

In other news, CEO Douglas H. Shulman sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $54.19, for a total transaction of $1,083,800.00. Following the sale, the chief executive officer now directly owns 392,474 shares in the company, valued at $21,268,166.06. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.45% of the stock is owned by insiders.

Hedge Funds Weigh In On OneMain

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OMF. Legend Financial Advisors Inc. bought a new position in shares of OneMain in the 4th quarter worth $26,000. FNY Investment Advisers LLC bought a new position in OneMain in the fourth quarter valued at $26,000. Albion Financial Group UT purchased a new stake in OneMain during the fourth quarter valued at about $26,000. Continuum Advisory LLC bought a new stake in OneMain during the third quarter worth about $28,000. Finally, IFP Advisors Inc boosted its holdings in shares of OneMain by 180.0% in the 4th quarter. IFP Advisors Inc now owns 770 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 495 shares in the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

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.