OneMain (OMF) Cut to Neutral at Wedbush

Wedbush cut shares of OneMain (NYSE:OMF) from an outperform rating to a neutral rating in a research note released on Wednesday, BenzingaRatingsTable reports. Wedbush currently has $35.00 price objective on the financial services provider’s stock, down from their prior price objective of $40.00.

OMF has been the subject of several other reports. JPMorgan Chase & Co. upgraded OneMain from an underweight rating to a neutral rating and reduced their target price for the stock from $34.50 to $32.00 in a research report on Wednesday, January 16th. Zacks Investment Research cut OneMain from a hold rating to a sell rating in a research note on Wednesday, February 13th. BMO Capital Markets boosted their target price on OneMain from $43.00 to $48.00 and gave the company an outperform rating in a research note on Wednesday, February 13th. BTIG Research initiated coverage on OneMain in a research note on Friday, February 22nd. They issued a buy rating and a $43.00 target price on the stock. Finally, JMP Securities boosted their target price on OneMain from $39.00 to $44.00 and gave the company a market outperform rating in a research note on Wednesday, February 13th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $39.00.

OneMain stock traded up $0.44 during mid-day trading on Wednesday, reaching $32.75. 18,224 shares of the company’s stock were exchanged, compared to its average volume of 588,881. The firm has a market capitalization of $4.44 billion, a P/E ratio of 6.43, a price-to-earnings-growth ratio of 0.57 and a beta of 2.50. OneMain has a one year low of $22.47 and a one year high of $37.29.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Monday, April 29th. The financial services provider reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.05. The company had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $735.94 million. OneMain had a return on equity of 19.22% and a net margin of 11.73%. During the same period in the previous year, the business earned $1.18 earnings per share. On average, research analysts anticipate that OneMain will post 5.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.05%. The ex-dividend date is Tuesday, May 28th. OneMain’s payout ratio is 19.76%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chicago Equity Partners LLC grew its stake in OneMain by 29.3% during the fourth quarter. Chicago Equity Partners LLC now owns 151,225 shares of the financial services provider’s stock worth $3,673,000 after purchasing an additional 34,275 shares during the period. Prudential Financial Inc. lifted its holdings in OneMain by 87.9% during the fourth quarter. Prudential Financial Inc. now owns 1,364,655 shares of the financial services provider’s stock worth $33,147,000 after acquiring an additional 638,277 shares during the period. Vanguard Group Inc. raised its stake in shares of OneMain by 1.3% in the third quarter. Vanguard Group Inc. now owns 6,508,786 shares of the financial services provider’s stock valued at $218,760,000 after buying an additional 86,411 shares during the period. Nomura Holdings Inc. raised its stake in shares of 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. Finally, Highland Capital Management LLC purchased a new position in shares of OneMain in the fourth quarter valued at $1,034,000. Hedge funds and other institutional investors own 93.31% 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.

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Analyst Recommendations for OneMain (NYSE:OMF)

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