OneMain (NYSE:OMF) Sets New 12-Month High Following Analyst Upgrade

OneMain Holdings, Inc. (NYSE:OMF - Get Free Report)'s stock price reached a new 52-week high on Tuesday after Barclays raised their price target on the stock from $48.00 to $56.00. Barclays currently has an equal weight rating on the stock. OneMain traded as high as $60.10 and last traded at $59.37, with a volume of 1269500 shares changing hands. The stock had previously closed at $59.76.

OMF has been the topic of a number of other reports. JMP Securities reaffirmed a "market outperform" rating and issued a $65.00 price target on shares of OneMain in a research note on Wednesday, April 30th. Northland Securities upgraded OneMain from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 8th. Wells Fargo & Company cut their price objective on OneMain from $57.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on OneMain from $58.00 to $46.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Evercore ISI started coverage on OneMain in a research report on Tuesday, March 25th. They issued an "in-line" rating and a $58.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $58.11.

Insider Activity at OneMain

In other OneMain news, COO Micah R. Conrad sold 3,000 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $60.00, for a total value of $180,000.00. Following the sale, the chief operating officer directly owned 98,007 shares of the company's stock, valued at approximately $5,880,420. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Douglas H. Shulman sold 20,000 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $52.56, for a total value of $1,051,200.00. Following the completion of the sale, the chief executive officer directly owned 323,925 shares in the company, valued at $17,025,498. This trade represents a 5.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock worth $5,082,190 over the last 90 days. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OneMain

Several hedge funds have recently added to or reduced their stakes in the stock. Marshall Financial Group LLC bought a new stake in OneMain in the second quarter worth $1,050,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of OneMain by 48.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,189 shares of the financial services provider's stock worth $1,266,000 after purchasing an additional 6,920 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in shares of OneMain in the second quarter worth $350,000. Range Financial Group LLC raised its stake in shares of OneMain by 4.9% in the second quarter. Range Financial Group LLC now owns 31,547 shares of the financial services provider's stock worth $1,798,000 after purchasing an additional 1,463 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of OneMain by 34.1% in the second quarter. Parallel Advisors LLC now owns 10,120 shares of the financial services provider's stock worth $577,000 after purchasing an additional 2,573 shares during the last quarter. 85.82% of the stock is owned by institutional investors.

OneMain Price Performance

The company has a 50 day moving average price of $53.09 and a two-hundred day moving average price of $51.77. The stock has a market cap of $7.08 billion, a PE ratio of 12.59, a PEG ratio of 0.51 and a beta of 1.32.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.17. OneMain had a return on equity of 19.30% and a net margin of 11.06%. The firm had revenue of $188.00 million during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the business earned $1.45 earnings per share. The company's revenue was up 7.1% on a year-over-year basis. As a group, equities analysts predict that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Announces Dividend

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

OneMain Company Profile

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.