OneMain (NYSE:OMF) Reaches New 12-Month High - What's Next?

OneMain Holdings, Inc. (NYSE:OMF - Get Free Report) shares hit 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 traded. The stock had previously closed at $59.76.

Analyst Ratings Changes

Several brokerages have recently issued reports on OMF. JPMorgan Chase & Co. reduced their price target on shares of OneMain from $58.00 to $46.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Northland Capmk upgraded shares of OneMain from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. JMP Securities reissued a "market outperform" rating and set a $65.00 target price on shares of OneMain in a research note on Wednesday, April 30th. Wells Fargo & Company dropped their price target on shares of OneMain from $57.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Finally, Evercore ISI began coverage on OneMain in a research report on Tuesday, March 25th. They set an "in-line" rating and a $58.00 price objective for the company. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, OneMain has an average rating of "Moderate Buy" and a consensus price target of $58.40.

OneMain Stock Up 0.3%

The business has a 50-day simple moving average of $53.09 and a two-hundred day simple moving average of $51.77. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.51 and a beta of 1.32.

OneMain (NYSE:OMF - Get Free Report) last announced 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 business had revenue of $188.00 million during the quarter, compared to analyst estimates of $1.16 billion. OneMain had a return on equity of 19.30% and a net margin of 11.06%. The company's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 earnings per share. On average, analysts forecast that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Friday, May 9th. This represents a $4.16 annualized dividend and a dividend yield of 7.04%. OneMain's dividend payout ratio (DPR) is 87.95%.

Insider Activity at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $52.21, for a total transaction of $261,050.00. Following the completion of the sale, the chief operating officer directly owned 108,007 shares of the company's stock, valued at $5,639,045.47. This represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas H. Shulman sold 40,000 shares of OneMain stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief executive officer owned 368,925 shares in the company, valued at approximately $18,446,250. This trade represents a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock worth $5,082,190 in the last ninety days. Corporate insiders own 0.40% of the company's stock.

Institutional Trading of OneMain

A number of hedge funds have recently modified their holdings of OMF. Wellington Management Group LLP lifted its stake in OneMain by 395.9% in the 4th quarter. Wellington Management Group LLP now owns 2,249,762 shares of the financial services provider's stock worth $117,280,000 after acquiring an additional 1,796,054 shares in the last quarter. Norges Bank purchased a new stake in OneMain in the 4th quarter worth approximately $72,936,000. FMR LLC increased its position in OneMain by 14.3% in the 4th quarter. FMR LLC now owns 10,835,668 shares of the financial services provider's stock worth $564,863,000 after purchasing an additional 1,352,604 shares during the last quarter. Clearbridge Investments LLC increased its holdings in OneMain by 54.1% in the fourth quarter. Clearbridge Investments LLC now owns 2,885,961 shares of the financial services provider's stock worth $150,445,000 after buying an additional 1,013,312 shares during the last quarter. Finally, Nuveen LLC bought a new position in OneMain during the first quarter valued at approximately $48,282,000. 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.