OneMain (NYSE:OMF) Sets New 52-Week High – Still a Buy?

Shares of OneMain Holdings, Inc. (NYSE:OMF) hit a new 52-week high during trading on Thursday . The stock traded as high as $55.00 and last traded at $55.00, with a volume of 3235 shares traded. The stock had previously closed at $54.47.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OMF. Northland Securities boosted their price objective on shares of OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Compass Point raised their price objective on OneMain from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JMP Securities increased their target price on OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. reduced their price target on OneMain from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Finally, Wells Fargo & Company lifted their price objective on shares of OneMain from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.08.

OneMain Stock Up 0.7 %

The company has a market cap of $6.54 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.62 and a beta of 1.54. The business has a 50-day simple moving average of $47.32 and a two-hundred day simple moving average of $48.44.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.59%. The ex-dividend date of this dividend is Tuesday, November 12th. OneMain’s dividend payout ratio is 91.03%.

Insider Buying and Selling

In other OneMain news, CEO Douglas H. Shulman sold 15,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $46.30, for a total transaction of $694,500.00. Following the completion of the transaction, the chief executive officer now owns 422,474 shares of the company’s stock, valued at $19,560,546.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Douglas H. Shulman sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief executive officer now directly owns 417,474 shares in the company, valued at $20,873,700. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas H. Shulman sold 15,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $46.30, for a total transaction of $694,500.00. Following the transaction, the chief executive officer now directly owns 422,474 shares in the company, valued at $19,560,546.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,792 shares of company stock valued at $2,032,859. Company insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OMF. Capital International Investors increased its stake in OneMain by 10.2% during the first quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock valued at $488,937,000 after acquiring an additional 889,387 shares during the period. Clearbridge Investments LLC raised its stake in shares of OneMain by 64.8% in the first quarter. Clearbridge Investments LLC now owns 1,890,017 shares of the financial services provider’s stock valued at $96,561,000 after purchasing an additional 743,034 shares in the last quarter. Principal Financial Group Inc. lifted its position in OneMain by 7,566.2% in the second quarter. Principal Financial Group Inc. now owns 718,172 shares of the financial services provider’s stock worth $34,824,000 after purchasing an additional 708,804 shares during the period. Vanguard Group Inc. boosted its stake in OneMain by 3.1% during the first quarter. Vanguard Group Inc. now owns 12,317,755 shares of the financial services provider’s stock worth $629,314,000 after buying an additional 373,900 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in OneMain in the 3rd quarter valued at $17,016,000. 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.