OneMain (NYSE:OMF) Hits New 1-Year High - What's Next?

OneMain Holdings, Inc. (NYSE:OMF - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $59.04 and last traded at $58.88, with a volume of 223556 shares changing hands. The stock had previously closed at $58.22.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OMF. Barclays set a $56.00 price objective on OneMain in a report on Friday, March 14th. Northland Capmk upgraded OneMain from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Northland Securities raised shares of OneMain from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their target price on shares of OneMain from $58.00 to $46.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, JMP Securities restated a "market outperform" rating and set a $65.00 price target on shares of OneMain in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, OneMain has an average rating of "Moderate Buy" and an average price target of $58.40.

OneMain Price Performance

The firm has a market cap of $7.08 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.50 and a beta of 1.32. The business has a fifty day simple moving average of $52.02 and a 200 day simple moving average of $51.54.

OneMain (NYSE:OMF - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.17. The business had revenue of $188.00 million during the quarter, compared to analysts' expectations of $1.16 billion. OneMain had a net margin of 11.06% and a return on equity of 19.30%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.45 earnings per share. On average, research analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were given a $1.04 dividend. The ex-dividend date was Friday, May 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 6.99%. OneMain's dividend payout ratio (DPR) is presently 87.95%.

Insider Activity at OneMain

In other news, CEO Douglas H. Shulman sold 20,000 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $52.56, for a total transaction of $1,051,200.00. Following the transaction, the chief executive officer owned 323,925 shares of the company's stock, valued at approximately $17,025,498. The trade was a 5.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Micah R. Conrad sold 4,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.02, for a total transaction of $232,080.00. Following the sale, the chief operating officer owned 101,007 shares of the company's stock, valued at approximately $5,860,426.14. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,000 shares of company stock valued at $4,902,190. Insiders own 0.40% of the company's stock.

Institutional Trading of OneMain

Hedge funds have recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in OneMain during the first quarter worth $27,000. SVB Wealth LLC acquired a new position in OneMain in the first quarter valued at about $34,000. IFP Advisors Inc lifted its position in OneMain by 180.0% in the fourth quarter. IFP Advisors Inc now owns 770 shares of the financial services provider's stock valued at $40,000 after buying an additional 495 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in OneMain during the first quarter worth about $42,000. Finally, Headlands Technologies LLC acquired a new stake in shares of OneMain during the first quarter valued at about $46,000. Hedge funds and other 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.