OneMain (NYSE:OMF) Hits New 52-Week High - Here's Why

OneMain Holdings, Inc. (NYSE:OMF - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $60.10 and last traded at $59.37, with a volume of 1269500 shares. The stock had previously closed at $59.76.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OMF. Northland Securities upgraded OneMain from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 8th. Northland Capmk upgraded shares of OneMain from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Wells Fargo & Company lowered their price target on shares of OneMain from $57.00 to $53.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. JMP Securities reaffirmed a "market outperform" rating and set a $65.00 price objective on shares of OneMain in a research note on Wednesday, April 30th. Finally, Evercore ISI initiated coverage on shares of OneMain in a report on Tuesday, March 25th. They issued an "in-line" rating and a $58.00 price objective for the company. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.40.

OneMain Stock Performance

The company's fifty day moving average price is $52.65 and its 200-day moving average price is $51.66. The stock has a market cap of $7.01 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 0.51 and a beta of 1.32.

OneMain (NYSE:OMF - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.17. The company 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 firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.45 EPS. 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 announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders 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 dividend yield of 7.06%. The ex-dividend date was Friday, May 9th. OneMain's dividend payout ratio (DPR) is presently 87.95%.

Insider Transactions at OneMain

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were 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 approximately $5,639,045.47. This trade represents a 4.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas H. Shulman sold 40,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the transaction, the chief executive officer directly owned 368,925 shares in the company, valued at $18,446,250. This trade represents a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,000 shares of company stock worth $4,902,190 in the last three months. Insiders own 0.40% of the company's stock.

Institutional Trading of OneMain

Large investors have recently bought and sold shares of the stock. Orion Portfolio Solutions LLC lifted its stake in shares of OneMain by 66.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 17,681 shares of the financial services provider's stock valued at $922,000 after purchasing an additional 7,060 shares during the period. PNC Financial Services Group Inc. grew its stake in OneMain by 15.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,263 shares of the financial services provider's stock valued at $222,000 after acquiring an additional 569 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in OneMain by 56.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 121,577 shares of the financial services provider's stock valued at $5,966,000 after acquiring an additional 43,915 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in OneMain by 5.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,851 shares of the financial services provider's stock valued at $1,251,000 after purchasing an additional 1,441 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in OneMain by 171.9% in the 1st quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider's stock valued at $532,000 after purchasing an additional 6,875 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

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.