OneMain (NYSE:OMF) Hits New 52-Week High on Analyst Upgrade

OneMain Holdings, Inc. (NYSE:OMF - Get Free Report)'s stock price hit a new 52-week high during trading 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.

A number of other research analysts also recently commented on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $65.00 price target on shares of OneMain in a report on Wednesday, April 30th. Northland Capmk raised 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. Evercore ISI started coverage on shares of OneMain in a research report on Tuesday, March 25th. They issued an "in-line" rating and a $58.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of OneMain from $58.00 to $46.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, OneMain presently has a consensus rating of "Moderate Buy" and an average price target of $58.11.

Insider Buying and Selling

In other news, CEO Douglas H. Shulman sold 40,000 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $18,446,250. This trade represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Micah R. Conrad sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total transaction of $261,050.00. Following the transaction, the chief operating officer directly owned 108,007 shares in the company, valued at approximately $5,639,045.47. This trade represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,000 shares of company stock worth $5,082,190. Corporate insiders own 0.40% of the company's stock.

Hedge Funds Weigh In On OneMain

A number of institutional investors have recently modified their holdings of OMF. Jones Financial Companies Lllp increased its position in shares of OneMain by 73.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,924 shares of the financial services provider's stock worth $100,000 after acquiring an additional 816 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of OneMain by 4.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,884 shares of the financial services provider's stock valued at $307,000 after purchasing an additional 234 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of OneMain by 5.8% during the fourth quarter. Victory Capital Management Inc. now owns 21,517 shares of the financial services provider's stock valued at $1,122,000 after purchasing an additional 1,179 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of OneMain during the fourth quarter valued at approximately $2,075,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of OneMain by 15.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,263 shares of the financial services provider's stock valued at $222,000 after purchasing an additional 569 shares in the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

OneMain Stock Down 0.9%

The stock's 50 day moving average price is $53.34 and its 200-day moving average price is $51.82. The stock has a market capitalization of $7.05 billion, a P/E ratio of 12.53, a P/E/G 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 analysts' consensus estimates of $1.55 by $0.17. OneMain had a net margin of 11.06% and a return on equity of 19.30%. The firm had revenue of $188.00 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $1.45 earnings per share. The company's quarterly revenue was up 7.1% on a year-over-year basis. Analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share 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 paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.02%. OneMain's dividend payout ratio is presently 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.