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

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

A number of other brokerages also recently issued reports on OMF. Wells Fargo & Company boosted their price objective on shares of OneMain from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Royal Bank of Canada lifted their price target on shares of OneMain from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Monday. Compass Point lifted their target price on OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays cut shares of OneMain from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $52.00 to $46.00 in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.15.

OneMain Trading Down 1.7 %

Shares of NYSE OMF traded down $0.94 during midday trading on Monday, hitting $54.60. The company’s stock had a trading volume of 1,735,162 shares, compared to its average volume of 1,115,732. The stock has a fifty day moving average price of $54.74 and a 200 day moving average price of $50.87. OneMain has a one year low of $41.70 and a one year high of $58.90. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 0.48 and a beta of 1.59.

Insider Activity at OneMain

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

Hedge Funds Weigh In On OneMain

Hedge funds have recently modified their holdings of the stock. State Street Corp boosted its stake in OneMain by 0.8% during the 3rd quarter. State Street Corp now owns 2,140,861 shares of the financial services provider’s stock valued at $100,770,000 after purchasing an additional 16,615 shares during the period. Geode Capital Management LLC increased its holdings in shares of OneMain by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,139,793 shares of the financial services provider’s stock valued at $100,935,000 after purchasing an additional 13,978 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in OneMain by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,412,436 shares of the financial services provider’s stock worth $66,483,000 after purchasing an additional 30,558 shares during the period. Basswood Capital Management L.L.C. boosted its stake in OneMain by 12.3% in the third quarter. Basswood Capital Management L.L.C. now owns 1,030,423 shares of the financial services provider’s stock valued at $48,502,000 after acquiring an additional 113,018 shares during the last quarter. Finally, Argent Capital Management LLC increased its stake in shares of OneMain by 2.3% in the 4th quarter. Argent Capital Management LLC now owns 827,710 shares of the financial services provider’s stock valued at $43,149,000 after acquiring an additional 18,534 shares during the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

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.