OneMain (NYSE:OMF) Hits New 1-Year High – Here’s Why

OneMain Holdings, Inc. (NYSE:OMF) reached a new 52-week high during trading on Thursday . The stock traded as high as $58.06 and last traded at $57.65, with a volume of 262455 shares traded. The stock had previously closed at $57.10.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OMF. Barclays downgraded OneMain from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $52.00 to $46.00 in a research note on Tuesday, October 8th. Stephens began coverage on shares of OneMain in a research report on Wednesday, November 13th. They set an “overweight” rating and a $62.00 price objective on the stock. Wells Fargo & Company increased their price target on OneMain from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Compass Point boosted their price objective on OneMain from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, JMP Securities increased their target price on OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, OneMain presently has an average rating of “Moderate Buy” and a consensus price target of $56.69.

OneMain Trading Up 1.6 %

The firm has a market capitalization of $6.93 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 0.48 and a beta of 1.58. The firm has a 50 day moving average price of $54.52 and a 200-day moving average price of $50.47.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were paid a dividend of $1.04 per share. The ex-dividend date was Tuesday, November 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.17%. OneMain’s dividend payout ratio is presently 91.03%.

Insider Transactions at OneMain

In related news, SVP Michael A. Hedlund sold 1,992 shares of OneMain 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 directly owns 18,955 shares in the company, valued at $985,660. The trade was a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas H. Shulman sold 5,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the transaction, the chief executive officer now owns 412,474 shares in the company, valued at approximately $21,861,122. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,492 shares of company stock worth $1,582,384. 0.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OneMain

A number of hedge funds and other institutional investors have recently modified their holdings of OMF. Quantinno Capital Management LP boosted its holdings in shares of OneMain by 0.7% in the 3rd quarter. Quantinno Capital Management LP now owns 27,732 shares of the financial services provider’s stock valued at $1,305,000 after buying an additional 204 shares in the last quarter. UMB Bank n.a. increased its position in shares of OneMain by 13.9% during the third quarter. UMB Bank n.a. now owns 2,026 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 247 shares in the last quarter. Abich Financial Wealth Management LLC lifted its holdings in shares of OneMain by 27.4% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,227 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 264 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of OneMain by 13.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 271 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in OneMain by 4.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,666 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 304 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors.

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.