OneMain (NYSE:OMF) Cut to Hold at StockNews.com

OneMain (NYSE:OMF - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report released on Tuesday.

Several other research firms also recently weighed in on OMF. Northland Securities boosted their target price on OneMain from $53.00 to $55.00 and gave the company a "market perform" rating in a report on Thursday, August 1st. Royal Bank of Canada restated an "outperform" rating and issued a $58.00 target price on shares of OneMain in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft cut their price target on OneMain from $64.00 to $61.00 and set a "buy" rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. dropped their price objective on shares of OneMain from $56.00 to $51.00 and set an "overweight" rating for the company in a research note on Monday, October 7th. Finally, Barclays cut 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. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $55.08.

OneMain Stock Up 2.1 %

OneMain stock traded up $1.05 during midday trading on Tuesday, reaching $51.18. The company's stock had a trading volume of 878,786 shares, compared to its average volume of 1,001,615. The business has a 50-day simple moving average of $47.22 and a 200-day simple moving average of $48.39. The company has a market cap of $6.11 billion, a P/E ratio of 11.20, a P/E/G ratio of 0.61 and a beta of 1.54. OneMain has a fifty-two week low of $36.52 and a fifty-two week high of $54.94.

Insider Transactions at OneMain

In other news, CEO Douglas H. Shulman sold 15,000 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $46.30, for a total transaction of $694,500.00. Following the completion of the transaction, the chief executive officer now owns 422,474 shares in the company, valued at approximately $19,560,546.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Douglas H. Shulman sold 5,000 shares of the firm's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief executive officer now owns 417,474 shares of the company's stock, valued at $20,873,700. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas H. Shulman sold 15,000 shares of OneMain stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $46.30, for a total value of $694,500.00. Following the transaction, the chief executive officer now directly owns 422,474 shares in the company, valued at approximately $19,560,546.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,792 shares of company stock worth $2,032,859. 0.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OneMain

Several hedge funds have recently modified their holdings of OMF. Aigen Investment Management LP acquired a new stake in shares of OneMain during the third quarter valued at approximately $288,000. GSA Capital Partners LLP purchased a new stake in shares of OneMain in the third quarter worth approximately $238,000. State of New Jersey Common Pension Fund D lifted its position in shares of OneMain by 3.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 40,581 shares of the financial services provider's stock worth $1,910,000 after purchasing an additional 1,215 shares in the last quarter. Covestor Ltd boosted its holdings in shares of OneMain by 10.8% during the third quarter. Covestor Ltd now owns 3,188 shares of the financial services provider's stock worth $150,000 after purchasing an additional 311 shares during the period. Finally, Atria Investments Inc increased its stake in OneMain by 44.2% in the 3rd quarter. Atria Investments Inc now owns 56,920 shares of the financial services provider's stock valued at $2,679,000 after buying an additional 17,457 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.

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.