OneMain (NYSE:OMF) Sets New 12-Month High – Should You Buy?

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

Wall Street Analyst Weigh In

A number of research firms recently commented on OMF. Wells Fargo & Company increased their target price on OneMain from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Tuesday. Barclays downgraded OneMain from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $52.00 to $46.00 in a research report on Tuesday, October 8th. JMP Securities increased their price target on shares of OneMain from $60.00 to $62.00 and gave the company 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 report on Thursday, October 31st. Finally, StockNews.com lowered shares of OneMain from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Seven investment 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 company currently has an average rating of “Moderate Buy” and an average price target of $56.69.

OneMain Stock Performance

The stock has a 50-day moving average of $54.63 and a two-hundred day moving average of $50.59. The company has a market cap of $6.88 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 0.50 and a beta of 1.58.

OneMain Dividend Announcement

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

Insiders Place Their Bets

In other OneMain news, SVP Michael A. Hedlund sold 1,992 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $52.00, for a total value of $103,584.00. Following the completion of the transaction, the senior vice president now owns 18,955 shares of the company’s stock, valued at approximately $985,660. The trade was a 9.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was 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 directly owns 102,239 shares in the company, valued at $5,316,428. The trade was a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,492 shares of company stock valued at $1,582,384. Insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Legend Financial Advisors Inc. bought a new stake in OneMain during the 4th quarter worth approximately $26,000. FNY Investment Advisers LLC purchased a new stake in OneMain in the 4th quarter worth $26,000. Albion Financial Group UT bought a new stake in OneMain during the fourth quarter valued at about $26,000. Continuum Advisory LLC purchased a new position in shares of OneMain in the third quarter valued at about $28,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of OneMain during the fourth quarter worth about $44,000. 85.82% of the stock is currently owned by institutional investors.

OneMain Company Profile

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.