OneMain (NYSE:OMF) Reaches New 52-Week High – What’s Next?

OneMain Holdings, Inc. (NYSE:OMF)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $60.41 and last traded at $60.20, with a volume of 342048 shares traded. The stock had previously closed at $57.34.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OMF shares. Wells Fargo & Company increased their target price on OneMain from $53.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. JMP Securities reiterated a “market outperform” rating and issued a $65.00 target price on shares of OneMain in a research note on Wednesday, April 30th. Barclays increased their target price on OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. increased their price target on OneMain from $50.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

OneMain Stock Performance

The business has a fifty day simple moving average of $57.25 and a 200 day simple moving average of $52.50. The company has a market cap of $7.15 billion, a P/E ratio of 10.85, a P/E/G ratio of 0.47 and a beta of 1.29.

OneMain (NYSE:OMF) last released its earnings results on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.20. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the business posted $1.02 EPS. OneMain’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend was Monday, August 4th. OneMain’s dividend payout ratio (DPR) is currently 75.09%.

Insider Buying and Selling

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total transaction of $261,050.00. Following the transaction, the chief operating officer owned 108,007 shares of the company’s stock, valued at $5,639,045.47. This trade represents a 4.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the transaction, the chief executive officer directly owned 275,100 shares in the company, valued at approximately $16,360,197. This represents a 11.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,000 shares of company stock worth $3,976,390. 0.40% of the stock is currently owned by company insiders.

Institutional Trading of OneMain

Hedge funds have recently made changes to their positions in the stock. Alpine Bank Wealth Management bought a new stake in shares of OneMain in the 1st quarter worth approximately $27,000. SVB Wealth LLC bought a new stake in shares of OneMain in the 1st quarter worth approximately $34,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of OneMain in the 1st quarter worth approximately $42,000. Headlands Technologies LLC bought a new stake in shares of OneMain in the 1st quarter worth approximately $46,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of OneMain by 79.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 820 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 363 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.