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

OneMain (NYSE:OMF) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company increased their price objective on shares of OneMain from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Stephens reiterated an “overweight” rating and issued a $62.00 price objective on shares of OneMain in a report on Monday, February 3rd. JMP Securities restated a “market outperform” rating and set a $65.00 target price on shares of OneMain in a report on Monday, February 3rd. Finally, Royal Bank of Canada raised their target price on shares of OneMain from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.36.

OneMain Price Performance

OneMain stock opened at $55.25 on Wednesday. The firm has a 50 day simple moving average of $54.59 and a 200-day simple moving average of $51.08. The stock has a market capitalization of $6.59 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.45 and a beta of 1.59. OneMain has a 12-month low of $41.70 and a 12-month high of $58.90.

Institutional Investors Weigh In On OneMain

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of OneMain by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 11,889,113 shares of the financial services provider’s stock valued at $619,779,000 after acquiring an additional 40,042 shares in the last quarter. FMR LLC lifted its position in shares of OneMain by 14.3% in the 4th quarter. FMR LLC now owns 10,835,668 shares of the financial services provider’s stock valued at $564,863,000 after acquiring an additional 1,352,604 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of OneMain by 54.1% in the 4th quarter. Clearbridge Investments LLC now owns 2,885,961 shares of the financial services provider’s stock valued at $150,445,000 after acquiring an additional 1,013,312 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of OneMain by 395.9% in the 4th quarter. Wellington Management Group LLP now owns 2,249,762 shares of the financial services provider’s stock valued at $117,280,000 after acquiring an additional 1,796,054 shares in the last quarter. Finally, State Street Corp lifted its position in OneMain by 0.8% in the 3rd quarter. State Street Corp now owns 2,140,861 shares of the financial services provider’s stock worth $100,770,000 after buying an additional 16,615 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

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.