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APO

Apollo Global

$34.27

0.67 (1.99%)

, OMF

OneMain Holdings

$26.64

0.34 (1.29%)

06:33
01/04/18
01/04
06:33
01/04/18
06:33

Apollo Global led group to acquire significant position in OneMain Holdings

An investor group led by funds managed by affiliates of Apollo Global Management (APO) and Varde Partners, announced they have entered into a definitive agreement with a company primarily owned by funds managed by an affiliate of Fortress Investment Group to acquire all of its remaining equity interest in OneMain Holdings (OMF) for $26.00 per share. Upon completion of the transaction, the Apollo and Varde led investor group will own approximately 40.5% of OneMain. The transaction, which is expected to close in the second quarter of 2018, is subject to regulatory approvals and other customary closing conditions.

APO

Apollo Global

$34.27

0.67 (1.99%)

OMF

OneMain Holdings

$26.64

0.34 (1.29%)

FIG

Acquired by SFTBF

  • 10

    Jan

  • 11

    Jan

APO Apollo Global
$34.27

0.67 (1.99%)

12/11/17
SBSH
12/11/17
NO CHANGE
SBSH
Citi sees potential sale of Voya assets as win for three companies
Citi analyst Suneet Kamath says Voya Financial's (VOYA) potential sale of $50B in annuity assets to Apollo Global (APO) could be a win for both companies along with Athene Holding (ATH). Considering the relationship between Apollo and Athene, any transfer of general account assets from Voya to Apollo would eventually be housed in Athene, Kamath tells investors in a research note. He estimates a Voya annuity deal could add at least $2 to his Apollo price target. The analyst continues to see more upside in Apollo than Athene.
01/03/18
MSCO
01/03/18
UPGRADE
MSCO
Overweight
Apollo Global upgraded to Overweight from Equal Weight at Morgan Stanley
01/03/18
MSCO
01/03/18
UPGRADE
Target $62
MSCO
Equal Weight
LPL Financial upgraded to Equal Weight from Underweight at Morgan Stanley
Morgan Stanley analyst Michael Cyprys raised his 2018 and 2019 EPS estimates by 25% and 20%, respectively, for discount brokers and 17% and 16%, respectively, for traditional asset managers, after updating for stronger equity markets, the latest forward curve and tax cuts. Given this context, he upgraded LPL Financial to Equal Weight from Underweight, stating that he views it as a key beneficiary of tax reform, rising short-term interest rates and strong equity markets. Cyprys increased his price target on LPL shares to $62 from $45. He also upgraded Apollo Global (APO) and E-Trade (ETFC), each to Overweight from Equal Weight.
01/03/18
MSCO
01/03/18
UPGRADE
Target $42
MSCO
Overweight
Apollo Global upgraded to Overweight at Morgan Stanley
As previously reported, Morgan Stanley analyst Michael Cyprys upgraded Apollo Global to Overweight from Equal Weight, noting that the company is entering its portfolio harvesting stage and he has become more bullish on its growth prospects with the credit business scaling faster. For Apollo, and other alternative asset managers, he also assumes lower tax rates and a higher multiple on fee-related earnings. Cyprys increased his price target on Apollo shares to $42 from $32.
OMF OneMain Holdings
$26.64

0.34 (1.29%)

11/08/17
JANY
11/08/17
NO CHANGE
Target $28
JANY
Neutral
OneMain Holdings 10-Q seems to end takeover speculation, says Janney Capital
Janney Capital analyst John Rowan noted that several media reports emerged in October that OneMain Holdings was up for sale, but the company's 10-Q contained "two inconspicuous sentences" that appeared to end that speculation, as OneMain stated that it "recently completed an evaluation of certain alternatives to maximize stockholder value, including a sale of its business. The evaluation has concluded and the company continues to implement its previously disclosed strategies." Since he had not adjusted his valuation of OneMain based on any takeover scenario, Rowan keeps a Neutral rating and $28 fair value estimate on the shares following the disclosure.
12/12/17
FBCO
12/12/17
NO CHANGE
FBCO
Outperform
Synchrony, Discover among biggest beneficiaries of tax reform, says Credit Suisse
Credit Suisse analyst Moshe Orenbuch views tax reform as highly beneficial to U.S. consumer finance companies as most companies are full U.S. tax payers and any increases in consumer confidence from more cash flow could lead to more consumer borrowing, driving faster revenue growth and improved credit quality. His favorites to benefit from tax reform are Synchrony (SYF), Discover (DFS), OneMain (OMF), CIT Group (CIT), Santander Consumer (SC), Sallie Mae (SLM), and Air Lease (AL).
11/08/17
BOFA
11/08/17
DOWNGRADE
Target $30
BOFA
Neutral
OneMain Holdings downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Kenneth Bruce downgraded OneMain Holding to Neutral and cut its price target to $30 from $35 following the strategic review and decision to pursue its previously announced strategy and the announced 10M share secondary offering by Fortress-affiliated funds. The analyst said the additional shares are 20% of the float and sees further downside as the news and shares are digested by investors.
11/03/17
COMP
11/03/17
DOWNGRADE
COMP
Neutral
OneMain Holdings downgraded to Neutral from Buy at Compass Point
FIG Acquired by SFTBF

02/22/17
SBSH
02/22/17
NO CHANGE
Target $39
SBSH
Buy
Citi views Legg Mason takeover as unlikely
Following yesterday's speculation, Citi analyst William Katz says a takeover of Legg Mason (LM) is unlikely. The analyst adds, however, that he can't completely rule out the possibility of a deal. Investors will likely focus on a potential suitor from Asia given the recent Fortress (FIG) announcement and China-based Shanda's sizable stake in Legg Mason, Katz tells investors in a research note. Merger speculation in the Asset Managers space could be incrementally positive for WisdomTree (WETF) and Waddell & Reed (WDR), two of the most likely "sale" candidates, the analyst contends. Katz has a Buy rating on Legg Mason with a $39 price target
09/29/17
09/29/17
NO CHANGE

SoftBank eyes acquisitions to create $300B asset-management arm, Bloomberg says
SoftBank Group (SFTBF) is looking at further acquisitions in the financial sector in an effort to establish a $300B asset management arm that would include its $93B Vision Fund over the next four to five years, Bloomberg reports, citing people familiar with the matter. SoftBank, which agreed to acquire Fortress Investment Group (FIG) for $3.3B in February, is mulling investments in the space such as acquiring traditional investment firms or taking stakes in major private equity shops like KKR (KKR). Reference Link
03/08/17
03/08/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Urban Outfitters (URBN) downgraded to Market Perform from Outperform at William Blair analyst Dylan Carden saying near-term investment spending and a "more subdued" comp outlook should continue to delay margin recovery. 2. Nimble Storage (NMBL) downgraded to Equal Weight from Overweight at Morgan Stanley, to Neutral from Positive at Susquehanna, to Sector Weight from Overweight at Pacific Crest, and to Market Perform from Outperform at Wells Fargo. 3. Fortress (FIG) downgraded to Market Perform from Outperform at JMP Securities. 4. BT Group (BT) downgraded to Neutral from Buy at Goldman with analyst Michael Bishop citing valuation following the recent rally in the shares. The analyst lowered his price target for the shares to $22 from $23.90. 5. Randgold (GOLD) downgraded to Underperform from Sector Perform at RBC Capital with analyst Tyler Broda saying he thinks that the company's "current growth phase" has ended, while its outlook has become less visible. Broda also cited valuation and his belief that gold prices will be challenged in the near-term amid interest rate increases as reasons for the downgrade. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/08/17
JMPS
03/08/17
DOWNGRADE
JMPS
Market Perform
Fortress downgraded to Market Perform from Outperform at JMP Securities

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$117.67

1.83 (1.58%)

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$19.70

0.08 (0.41%)

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1.83 (1.58%)

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0.08 (0.41%)

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SMMT

Summit Therapeutics

$13.66

0.13 (0.96%)

04:55
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ABBV

AbbVie

$91.91

0.57 (0.62%)

, ACOR

Acorda Therapeutics

$22.95

-0.15 (-0.65%)

04:55
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ABBV

AbbVie

$91.91

0.57 (0.62%)

ACOR

Acorda Therapeutics

$22.95

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ALXN

Alexion

$106.07

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AKCA

Akcea Therapeutics

$26.85

0.02 (0.07%)

RHHBY

Roche

TEVA

Teva

$17.27

-0.28 (-1.60%)

UBS

UBS

$16.78

-0.095 (-0.56%)

MDT

Medtronic

$79.47

0.12 (0.15%)

MCK

McKesson

$151.70

2.76 (1.85%)

NVTA

Invitae

$5.53

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IONS

Ionis Pharmaceuticals

$43.98

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IPXL

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$19.25

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DNA

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DGX

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$101.17

1.42 (1.42%)

ESALY

Eisai

DEPO

Depomed

$6.66

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CPRX

Catalyst Pharmaceuticals

$2.64

0.04 (1.54%)

BSX

Boston Scientific

$29.44

1.01 (3.55%)

BMRN

BioMarin

$81.41

0.33 (0.41%)

MYL

Mylan

$38.93

-1.32 (-3.28%)

NBIX

Neurocrine

$78.13

-0.3 (-0.38%)

NVS

Novartis

$76.42

-0.58 (-0.75%)

PFE

Pfizer

$36.69

-0.36 (-0.97%)

RARX

RA Pharmaceuticals

$5.76

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SNY

Sanofi

$40.11

0.335 (0.84%)

SYK

Stryker

$165.44

0.77 (0.47%)

SUPN

Supernus

$47.30

0.55 (1.18%)

LLY

Eli Lilly

$81.17

1.08 (1.35%)

BAYRY

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AMGN

Amgen

$174.83

2.92 (1.70%)

ALNY

Alnylam

$94.35

-0.34 (-0.36%)

BIIB

Biogen

$269.47

7.45 (2.84%)

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SCPH

scPharmaceuticals

$9.92

-0.1 (-1.00%)

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ALNA

Allena Pharmaceuticals

$14.77

0.845 (6.07%)

04:55
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Conference/Events
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RIO

Rio Tinto

$55.24

-0.44 (-0.79%)

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SPNE

SeaSpine

$11.05

-0.11 (-0.99%)

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PYPL

PayPal

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NFLX

Netflix

$305.73

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ADOM

Adomani

$0.71

-0.0401 (-5.35%)

, AEYE

AudioEye

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AMBS

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AZRX

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CTHR

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GMRE

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ISDR

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ISR

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MNGA

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$17.78

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SGLB

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SSFT

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VNRX

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$2.12

0.02 (0.95%)

XPLR

Xplore Technologies

$3.32

-0.04 (-1.19%)

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