Zacks Investment Research Downgrades OneMain (NYSE:OMF) to Sell

Zacks Investment Research downgraded shares of OneMain (NYSE:OMF) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

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. “

Several other research analysts have also commented on OMF. Northland Securities assumed coverage on shares of Enphase Energy in a report on Wednesday, June 26th. They issued an outperform rating and a $24.00 price target on the stock. Wedbush restated an outperform rating and issued a $124.00 price target on shares of New Relic in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $39.25.



Shares of OMF stock traded up $0.06 during trading hours on Wednesday, hitting $34.14. 439,040 shares of the company were exchanged, compared to its average volume of 541,613. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 6.75, a PEG ratio of 0.61 and a beta of 2.41. OneMain has a 1 year low of $22.47 and a 1 year high of $37.29. The business’s fifty day moving average price is $32.31.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Monday, April 29th. The financial services provider reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.05. OneMain had a net margin of 11.73% and a return on equity of 19.22%. The firm had revenue of $720.00 million for the quarter, compared to analyst estimates of $735.94 million. During the same quarter last year, the firm posted $1.18 earnings per share. On average, sell-side analysts expect that OneMain will post 5.69 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 28th. This represents a $1.00 annualized dividend and a yield of 2.93%. OneMain’s payout ratio is 19.76%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nomura Holdings Inc. raised its holdings in OneMain by 36.5% in the fourth quarter. Nomura Holdings Inc. now owns 40,703 shares of the financial services provider’s stock valued at $985,000 after buying an additional 10,894 shares during the period. Squarepoint Ops LLC grew its position in OneMain by 236.9% in the fourth quarter. Squarepoint Ops LLC now owns 92,317 shares of the financial services provider’s stock valued at $2,242,000 after acquiring an additional 64,915 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in OneMain in the first quarter valued at approximately $3,604,000. D. E. Shaw & Co. Inc. grew its position in OneMain by 2,064.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 384,170 shares of the financial services provider’s stock valued at $9,332,000 after acquiring an additional 366,417 shares in the last quarter. Finally, Highland Capital Management LLC grew its position in OneMain by 42.3% in the first quarter. Highland Capital Management LLC now owns 60,581 shares of the financial services provider’s stock valued at $1,923,000 after acquiring an additional 18,015 shares in the last quarter. Hedge funds and other institutional investors own 90.37% of the company’s stock.

About OneMain

OneMain Holdings, Inc, through its subsidiaries, provides consumer finance and insurance products and services. The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing. It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.

Read More: Trade War

Get a free copy of the Zacks research report on OneMain (OMF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for OneMain (NYSE:OMF)

Receive News & Ratings for OneMain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OneMain and related companies with MarketBeat.com's FREE daily email newsletter.