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

OneMain Holdings, Inc. (NYSE:OMF)’s stock price reached a new 52-week high 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.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada increased their target price on shares of OneMain from $68.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Truist Financial assumed coverage on OneMain in a report on Monday, December 8th. They set a “buy” rating and a $75.00 price objective for the company. Wells Fargo & Company set a $75.00 target price on OneMain in a research note on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research note on Monday, December 29th. Finally, JMP Securities set a $68.00 price target on OneMain in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.67.

OneMain Price Performance

The stock has a fifty day moving average of $63.30 and a 200 day moving average of $59.86. The stock has a market cap of $8.30 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 0.38 and a beta of 1.33.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.58 by $0.32. The business had revenue of $747.00 million during the quarter, compared to analysts’ expectations of $1.24 billion. OneMain had a net margin of 13.15% and a return on equity of 22.70%. During the same period in the previous year, the business posted $1.31 EPS. As a group, equities analysts expect that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were issued a $1.05 dividend. The ex-dividend date of this dividend was Monday, November 10th. This is a positive change from OneMain’s previous quarterly dividend of $1.04. This represents a $4.20 annualized dividend and a yield of 6.0%. OneMain’s dividend payout ratio is currently 71.19%.

Insider Buying and Selling at OneMain

In other news, SVP Michael A. Hedlund sold 652 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $62.00, for a total value 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 $941,098. The trade was a 4.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas H. Shulman sold 57,500 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $68.41, for a total value of $3,933,575.00. Following the sale, the chief executive officer directly owned 174,100 shares in the company, valued at approximately $11,910,181. This trade represents a 24.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 98,152 shares of company stock worth $6,353,899. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On OneMain

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in OneMain by 2.1% during the third quarter. Vanguard Group Inc. now owns 11,970,406 shares of the financial services provider’s stock valued at $675,849,000 after buying an additional 249,785 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of OneMain during the 2nd quarter worth about $611,102,000. Capital International Investors grew its position in shares of OneMain by 0.8% during the 3rd quarter. Capital International Investors now owns 10,376,590 shares of the financial services provider’s stock valued at $585,868,000 after acquiring an additional 82,202 shares during the period. Brave Warrior Advisors LLC increased its stake in shares of OneMain by 7.2% in the 2nd quarter. Brave Warrior Advisors LLC now owns 7,870,085 shares of the financial services provider’s stock valued at $448,595,000 after purchasing an additional 526,449 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of OneMain by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,980,031 shares of the financial services provider’s stock valued at $224,723,000 after purchasing an additional 63,774 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

About OneMain

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.