Jefferies Group Analysts Raise Earnings Estimates for OneMain Holdings Inc (OMF)

OneMain Holdings Inc (NYSE:OMF) – Research analysts at Jefferies Group lifted their Q2 2018 earnings estimates for shares of OneMain in a research report issued to clients and investors on Wednesday. Jefferies Group analyst J. Hecht now expects that the financial services provider will earn $1.15 per share for the quarter, up from their previous forecast of $0.99. Jefferies Group currently has a “Buy” rating and a $48.00 target price on the stock.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.14). OneMain had a net margin of 4.85% and a return on equity of 14.15%. The firm had revenue of $808.00 million for the quarter, compared to the consensus estimate of $800.50 million. During the same period in the prior year, the business earned $0.90 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis.

OMF has been the subject of several other research reports. ValuEngine upgraded shares of OneMain from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Compass Point cut shares of OneMain from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a research report on Friday, November 3rd. BMO Capital Markets restated a “buy” rating on shares of OneMain in a research report on Monday, November 6th. Bank of America cut shares of OneMain from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research upgraded shares of OneMain from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.00.

Shares of OneMain (NYSE:OMF) traded up $0.57 during mid-day trading on Thursday, reaching $34.09. 605,400 shares of the company traded hands, compared to its average volume of 1,983,300. The company has a market cap of $4,620.00, a P/E ratio of 27.06, a P/E/G ratio of 1.64 and a beta of 2.72. OneMain has a 12-month low of $21.56 and a 12-month high of $35.11.

In other news, Director Fortress Investment Group Llc sold 7,500,000 shares of OneMain stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $25.10, for a total transaction of $188,250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wesley R. Edens sold 10,000,000 shares of OneMain stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $26.00, for a total transaction of $260,000,000.00. The disclosure for this sale can be found here. Insiders sold a total of 18,500,000 shares of company stock valued at $474,250,000 in the last 90 days. Corporate insiders own 57.73% of the company’s stock.

Several large investors have recently modified their holdings of the company. Polianta Ltd acquired a new stake in shares of OneMain during the 4th quarter worth approximately $1,177,000. Public Employees Retirement System of Ohio grew its position in shares of OneMain by 197.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 52,423 shares of the financial services provider’s stock worth $1,478,000 after buying an additional 34,792 shares during the period. Sterling Capital Management LLC acquired a new stake in shares of OneMain during the 3rd quarter worth approximately $296,000. Argent Capital Management LLC acquired a new stake in shares of OneMain during the 3rd quarter worth approximately $1,600,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of OneMain by 83.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 9,863 shares of the financial services provider’s stock worth $278,000 after buying an additional 4,483 shares during the period. Institutional investors own 95.81% of the company’s stock.

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OneMain Company Profile

OneMain Holdings, Inc is a financial services holding company. The Company is a consumer finance company, which is engaged in providing personal loan products; credit and non-credit insurance, and service loans owned by it and service or subservice loans owned by third-parties. The Company’s segments include Consumer and Insurance; Acquisitions and Servicing; Real Estate, and Other.

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