OneMain (NYSE:OMF) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• OneMain shares crossed above their 200-day moving average, trading as high as $59.54 and closing near $59.34, compared with a 200-day average of $58.51.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $67.09; eight analysts rate the stock Buy, four Hold, and one Sell.
• OneMain’s latest quarterly results exceeded expectations, with EPS of $1.31 versus the $1.26 estimate and revenue of $1.62 billion; institutional investors own approximately 85.82% of the company.

OneMain Holdings, Inc. (NYSE:OMF - Get Free Report) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $58.51 and traded as high as $59.54. OneMain shares last traded at $59.3430, with a volume of 1,291,046 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on OMF shares. Citizens Jmp boosted their target price on shares of OneMain from $68.00 to $70.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 30th. Evercore set a $60.00 price target on shares of OneMain in a research note on Thursday, October 1st. Citigroup reissued a "market outperform" rating on shares of OneMain in a report on Thursday, July 30th. Barclays dropped their price objective on shares of OneMain from $61.00 to $60.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 7th. Finally, Bank of America reduced their price objective on OneMain from $71.00 to $67.00 and set a "buy" rating on the stock in a report on Monday, September 28th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.09.

OneMain Stock Performance

The firm's 50-day simple moving average is $59.13 and its 200 day simple moving average is $58.51. The company has a market cap of $6.83 billion, a P/E ratio of 8.94, a PEG ratio of 0.65 and a beta of 1.24.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.05. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.28 billion. OneMain had a return on equity of 23.49% and a net margin of 13.92%. The firm's revenue was up 6.7% on a year-over-year basis. During the same period last year, the company earned $1.45 EPS. As a group, research analysts forecast that OneMain Holdings, Inc. will post 6.73 earnings per share for the current year.

Insiders Place Their Bets

In other OneMain news, COO Micah Conrad sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total transaction of $327,000.00. Following the transaction, the chief operating officer owned 91,250 shares in the company, valued at approximately $5,967,750. This trade represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company's stock.

Institutional Trading of OneMain

Hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System increased its position in shares of OneMain by 1.7% in the 1st quarter. New York State Teachers Retirement System now owns 11,131 shares of the financial services provider's stock valued at $595,000 after buying an additional 189 shares in the last quarter. Cidel Asset Management Inc. lifted its holdings in OneMain by 6.0% during the third quarter. Cidel Asset Management Inc. now owns 3,702 shares of the financial services provider's stock worth $205,000 after acquiring an additional 211 shares in the last quarter. Taylor Frigon Capital Management LLC grew its stake in OneMain by 0.6% in the third quarter. Taylor Frigon Capital Management LLC now owns 35,370 shares of the financial services provider's stock valued at $1,959,000 after acquiring an additional 225 shares during the period. Park Avenue Securities LLC grew its stake in OneMain by 2.7% in the third quarter. Park Avenue Securities LLC now owns 8,980 shares of the financial services provider's stock valued at $497,000 after acquiring an additional 234 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in shares of OneMain by 32.2% in the second quarter. Parkside Financial Bank & Trust now owns 1,011 shares of the financial services provider's stock worth $62,000 after acquiring an additional 246 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

About OneMain

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company that provides personal lending and related financial services primarily to non-prime consumers in the United States. The company serves customers through a combination of branch locations, online and mobile channels, and centralized customer service operations.

OneMain's principal products include secured and unsecured personal loans, which customers may use for debt consolidation, home improvements, major purchases, and other personal expenses.

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