OneMain (NYSE:OMF) Reaches New 52-Week High – Time to Buy?

OneMain Holdings, Inc. (NYSE:OMF) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $58.06 and last traded at $57.65, with a volume of 262455 shares trading hands. The stock had previously closed at $57.10.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com cut OneMain from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. dropped their target price on OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. JMP Securities upped their price target on OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Compass Point boosted their price objective on shares of OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays downgraded shares of OneMain from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $52.00 to $46.00 in a research report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, OneMain presently has an average rating of “Moderate Buy” and an average target price of $56.69.

OneMain Price Performance

The business’s fifty day moving average price is $54.63 and its 200-day moving average price is $50.59. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.50 and a beta of 1.58.

OneMain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 7.22%. The ex-dividend date was Tuesday, November 12th. OneMain’s dividend payout ratio (DPR) is presently 91.03%.

Insider Activity at OneMain

In related news, CEO Douglas H. Shulman sold 5,000 shares of OneMain stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the sale, the chief executive officer now directly owns 412,474 shares in the company, valued at approximately $21,861,122. This trade represents a 1.20 % 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 2,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total value of $130,000.00. Following the completion of the transaction, the chief operating officer now owns 102,239 shares of the company’s stock, valued at $5,316,428. This trade represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,492 shares of company stock valued at $1,582,384 over the last 90 days. Insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On OneMain

A number of hedge funds have recently modified their holdings of OMF. Legend Financial Advisors Inc. bought a new stake in OneMain in the 4th quarter valued at about $26,000. FNY Investment Advisers LLC bought a new stake in shares of OneMain in the fourth quarter valued at approximately $26,000. Albion Financial Group UT purchased a new stake in shares of OneMain during the 4th quarter valued at approximately $26,000. Continuum Advisory LLC bought a new position in OneMain in the 3rd quarter worth approximately $28,000. Finally, Richardson Financial Services Inc. bought a new stake in OneMain during the 4th quarter valued at $44,000. 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.