AM Best Downgrades Credit Ratings of Merit Life Insurance Company; Maintains Under Review with Developing Implications Status [Yahoo! Finance]
OneMain Holdings, Inc. (OMF)
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Source: Yahoo! Finance
Issuer Credit Rating to "bbb+" (Good) from "a-" (Excellent) of Merit Life Insurance Company (Merit) (Charlotte, NC). Concurrently, AM Best has maintained the under review with developing implications status on these Credit Ratings (ratings). The ratings of Merit reflect its balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). The rating downgrades reflect a downward revision of Merit's balance sheet strength assessment to strong from very strong, driven by a material decline in Merit's risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), driven by a significant decline in statutory surplus. The decline in statutory surplus is due in part to a reduction in invested assets as the company has been using asset sales to cover operating expenses. The parent company has not provided any capital injection since fall 2023 as it is curr
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- OneMain Holdings, Inc. (NYSE: OMF) had its price target raised by analysts at Wells Fargo & Company from $48.00 to $53.00. They now have an "equal weight" rating on the stock.MarketBeat
- OneMain Holdings, Inc. (NYSE: OMF) had its price target raised by analysts at BMO Capital Markets from $48.00 to $50.00. They now have a "market perform" rating on the stock.MarketBeat
- OneMain Holdings First Quarter 2024 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
- OneMain Holdings: Solid Q1 With Credit Losses Peaking (Rating Upgrade) [Seeking Alpha]Seeking Alpha
- OneMain Holdings, Inc. (NYSE: OMF) had its price target raised by analysts at TD Cowen from $58.00 to $60.00. They now have a "buy" rating on the stock.MarketBeat
OMF
Earnings
- 4/30/24 - Beat
OMF
Sec Filings
- 4/30/24 - Form 8-K
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- OMF's page on the SEC website