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

OneMain Holdings, Inc. (NYSE:OMF - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $50.00 to $63.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. OneMain traded as high as $60.10 and last traded at $59.37, with a volume of 1269500 shares trading hands. The stock had previously closed at $59.76.

Other research analysts have also issued research reports about the stock. Evercore ISI began coverage on shares of OneMain in a research note on Tuesday, March 25th. They issued an "in-line" rating and a $58.00 price target on the stock. Northland Securities raised shares of OneMain from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 8th. Northland Capmk raised shares of OneMain from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. JMP Securities restated a "market outperform" rating and issued a $65.00 price target on shares of OneMain in a report on Wednesday, April 30th. Finally, Wells Fargo & Company cut their price target on OneMain from $57.00 to $53.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $60.00.

Insider Activity

In other OneMain news, CEO Douglas H. Shulman sold 20,000 shares of the company's stock in a transaction on 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 sale, the chief executive officer directly owned 323,925 shares of the company's stock, valued at approximately $17,025,498. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Micah R. Conrad sold 3,000 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $60.00, for a total transaction of $180,000.00. Following the sale, the chief operating officer directly owned 98,007 shares in the company, valued at $5,880,420. This trade represents a 2.97% 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 in the last quarter. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OneMain

A number of institutional investors and hedge funds have recently modified their holdings of OMF. Vanguard Group Inc. raised its stake in OneMain by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 11,889,113 shares of the financial services provider's stock valued at $619,779,000 after buying an additional 40,042 shares during the period. FMR LLC raised its stake in OneMain by 14.3% in the 4th quarter. FMR LLC now owns 10,835,668 shares of the financial services provider's stock valued at $564,863,000 after acquiring an additional 1,352,604 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in OneMain in the 2nd quarter valued at $611,102,000. Capital International Investors raised its stake in OneMain by 2.1% in the 4th quarter. Capital International Investors now owns 10,238,425 shares of the financial services provider's stock valued at $533,729,000 after acquiring an additional 211,745 shares during the period. Finally, Brave Warrior Advisors LLC raised its stake in OneMain by 0.5% in the 4th quarter. Brave Warrior Advisors LLC now owns 7,437,670 shares of the financial services provider's stock valued at $387,726,000 after acquiring an additional 35,448 shares during the period. 85.82% of the stock is owned by institutional investors.

OneMain Price Performance

The company has a market capitalization of $7.01 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.51 and a beta of 1.32. The company's 50-day moving average price is $53.53 and its two-hundred day moving average price is $51.86.

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

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a dividend of $1.04 per share. The ex-dividend date was Friday, May 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.06%. OneMain's dividend payout ratio (DPR) is currently 87.95%.

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.