OneMain Sees Unusually High Options Volume (NYSE:OMF)

OneMain Holdings, Inc. (NYSE:OMF) was the target of some unusual options trading on Monday. Investors purchased 6,319 call options on the company. This is an increase of approximately 251% compared to the average volume of 1,798 call options.

Analyst Upgrades and Downgrades

Several brokerages have commented on OMF. Barclays lowered shares of OneMain from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $52.00 to $46.00 in a report on Tuesday, October 8th. Compass Point boosted their target price on shares of OneMain from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on OneMain from $56.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. JMP Securities upped their price target on OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Finally, StockNews.com downgraded OneMain from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, OneMain presently has an average rating of “Moderate Buy” and a consensus price target of $56.08.

Insider Buying and Selling at OneMain

In other news, SVP Michael A. Hedlund sold 1,992 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total value of $103,584.00. Following the completion of the sale, the senior vice president now owns 18,955 shares of the company’s stock, valued at approximately $985,660. This represents a 9.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas H. Shulman sold 20,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 392,474 shares of the company’s stock, valued at $21,268,166.06. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,492 shares of company stock worth $1,582,384. Corporate insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On OneMain

Large investors have recently made changes to their positions in the company. Continuum Advisory LLC acquired a new position in OneMain in the 3rd quarter valued at $28,000. Abich Financial Wealth Management LLC raised its position in shares of OneMain by 27.4% in the second quarter. Abich Financial Wealth Management LLC now owns 1,227 shares of the financial services provider’s stock valued at $59,000 after buying an additional 264 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of OneMain by 64.1% in the third quarter. Blue Trust Inc. now owns 1,219 shares of the financial services provider’s stock worth $59,000 after buying an additional 476 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of OneMain by 13.9% in the third quarter. UMB Bank n.a. now owns 2,026 shares of the financial services provider’s stock worth $95,000 after buying an additional 247 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. acquired a new position in OneMain during the third quarter worth about $108,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

OneMain Stock Performance

OMF stock traded up $0.97 on Monday, hitting $53.86. 171,608 shares of the company’s stock were exchanged, compared to its average volume of 467,146. OneMain has a 12-month low of $41.70 and a 12-month high of $57.97. The stock has a market cap of $6.43 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 0.69 and a beta of 1.58. The firm has a 50 day moving average price of $54.04 and a two-hundred day moving average price of $49.99.

OneMain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Tuesday, November 12th were given a $1.04 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $4.16 annualized dividend and a yield of 7.72%. OneMain’s dividend payout ratio is presently 91.03%.

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.