OneMain (NYSE:OMF) Sets New 1-Year High – What’s Next?

OneMain Holdings, Inc. (NYSE:OMF) shares hit a new 52-week high during trading on Monday . The company traded as high as $70.50 and last traded at $70.6610, with a volume of 113634 shares changing hands. The stock had previously closed at $69.07.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OMF. Evercore ISI set a $75.00 price objective on OneMain in a research report on Tuesday. JMP Securities set a $68.00 price target on OneMain in a report on Monday, November 24th. Barclays increased their price objective on OneMain from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on OneMain from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Finally, Truist Financial started coverage on OneMain in a research note on Monday, December 8th. They issued a “buy” rating and a $75.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.67.

OneMain Trading Down 1.5%

The stock’s fifty day moving average price is $63.80 and its 200 day moving average price is $60.09. The stock has a market cap of $8.27 billion, a P/E ratio of 11.91, a PEG ratio of 0.39 and a beta of 1.33.

OneMain (NYSE:OMF) last issued its quarterly earnings results on Friday, October 31st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.32. OneMain had a net margin of 13.15% and a return on equity of 22.70%. The company had revenue of $747.00 million during the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the business earned $1.31 EPS. As a group, sell-side analysts forecast that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were paid a dividend of $1.05 per share. The ex-dividend date was Monday, November 10th. This is a positive change from OneMain’s previous quarterly dividend of $1.04. This represents a $4.20 dividend on an annualized basis and a yield of 6.0%. OneMain’s dividend payout ratio (DPR) is presently 71.19%.

Insider Buying and Selling at OneMain

In other news, CEO Douglas H. Shulman sold 57,500 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $68.41, for a total transaction of $3,933,575.00. Following the sale, the chief executive officer owned 174,100 shares in the company, valued at $11,910,181. This represents a 24.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael A. Hedlund sold 652 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $62.00, for a total transaction of $40,424.00. Following the completion of the transaction, the senior vice president owned 15,179 shares of the company’s stock, valued at approximately $941,098. The trade was a 4.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 98,152 shares of company stock worth $6,353,899. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of OneMain

A number of institutional investors and hedge funds have recently modified their holdings of OMF. Pallas Capital Advisors LLC bought a new position in shares of OneMain in the second quarter worth about $350,000. Empowered Funds LLC increased its holdings in shares of OneMain by 30.2% in the second quarter. Empowered Funds LLC now owns 60,125 shares of the financial services provider’s stock worth $3,427,000 after purchasing an additional 13,963 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of OneMain by 5.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 321,007 shares of the financial services provider’s stock worth $18,297,000 after acquiring an additional 16,975 shares in the last quarter. Norges Bank purchased a new stake in OneMain during the second quarter valued at $85,541,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of OneMain by 35.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 367,330 shares of the financial services provider’s stock valued at $20,938,000 after acquiring an additional 95,824 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

OneMain Company Profile

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.