OneMain (NYSE:OMF) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of OneMain (NYSE:OMF) from a hold rating to a sell rating in a research report released 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 analysts have also recently weighed in on OMF. Wedbush reissued an outperform rating and set a $124.00 price objective on shares of New Relic in a report on Wednesday, May 15th. Northland Securities began coverage on Enphase Energy in a report on Wednesday, June 26th. They set an outperform rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $39.25.

Shares of NYSE:OMF opened at $34.59 on Wednesday. The company has a market cap of $4.71 billion, a PE ratio of 6.59, a P/E/G 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 stock’s 50-day moving average price is $32.38.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Monday, April 29th. The financial services provider reported $1.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.05. The firm 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 posted $1.18 EPS. As a group, analysts forecast that OneMain will post 5.69 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were paid a $0.25 dividend. The ex-dividend date was Tuesday, May 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.89%. OneMain’s dividend payout ratio (DPR) is presently 19.76%.

Several hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in shares of OneMain by 5.2% in the 1st quarter. FMR LLC now owns 12,225,438 shares of the financial services provider’s stock valued at $388,157,000 after acquiring an additional 606,258 shares during the last quarter. Varde Management L.P. bought a new stake in OneMain during the 1st quarter worth approximately $360,500,000. Dimensional Fund Advisors LP increased its stake in OneMain by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,450,176 shares of the financial services provider’s stock worth $83,806,000 after purchasing an additional 423,499 shares in the last quarter. Basswood Capital Management L.L.C. increased its stake in OneMain by 5.9% during the 4th quarter. Basswood Capital Management L.L.C. now owns 2,750,469 shares of the financial services provider’s stock worth $66,809,000 after purchasing an additional 153,633 shares in the last quarter. Finally, Norges Bank bought a new stake in OneMain during the 4th quarter worth approximately $40,862,000. 90.37% of the stock is owned by institutional investors.

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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