OneMain (NYSE:OMF) Reaches New 1-Year High – Here’s What Happened

OneMain Holdings, Inc. (NYSE:OMF) shares hit a new 52-week high during trading on Friday . The stock traded as high as $56.42 and last traded at $56.40, with a volume of 44227 shares trading hands. The stock had previously closed at $55.57.

Analysts Set New Price Targets

A number of brokerages have weighed in on OMF. JPMorgan Chase & Co. reduced their target price on OneMain from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Barclays lowered OneMain from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $52.00 to $46.00 in a research note on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 target price on shares of OneMain in a research note on Wednesday, October 16th. Compass Point raised their price target on shares of OneMain from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, JMP Securities upped their price objective on shares of OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.46.

OneMain Price Performance

The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 0.68 and a beta of 1.54. The company’s fifty day simple moving average is $49.39 and its two-hundred day simple moving average is $48.80.

OneMain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were issued a $1.04 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.35%. OneMain’s dividend payout ratio is presently 91.03%.

Insider Buying and Selling at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 20,000 shares of OneMain stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total transaction of $1,083,800.00. Following the transaction, the chief executive officer now directly owns 392,474 shares of the company’s stock, valued at $21,268,166.06. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Micah R. Conrad sold 2,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total transaction of $130,000.00. Following the completion of the sale, the chief operating officer now owns 102,239 shares of the company’s stock, valued at approximately $5,316,428. The trade was a 2.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,792 shares of company stock worth $2,187,784. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On OneMain

Several hedge funds have recently modified their holdings of the company. Continuum Advisory LLC bought a new position in shares of OneMain in the third quarter valued at approximately $28,000. EdgeRock Capital LLC bought a new position in OneMain in the 2nd quarter valued at $31,000. International Assets Investment Management LLC purchased a new stake in shares of OneMain during the 2nd quarter valued at $34,000. Blue Trust Inc. raised its stake in shares of OneMain by 43.4% during the 2nd quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 225 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of OneMain by 46.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock worth $49,000 after buying an additional 304 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

About OneMain

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.