OneMain (NYSE:OMF) Shares Up 7.4% - Here's What Happened

Shares of OneMain Holdings, Inc. (NYSE:OMF - Get Free Report) traded up 7.4% during mid-day trading on Wednesday . The company traded as high as $51.63 and last traded at $50.99. 346,857 shares changed hands during trading, a decline of 65% from the average session volume of 983,246 shares. The stock had previously closed at $47.48.

Analysts Set New Price Targets

A number of analysts have recently weighed in on OMF shares. Barclays lowered shares of OneMain from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $52.00 to $46.00 in a research note on Tuesday, October 8th. JPMorgan Chase & Co. dropped their price target on OneMain from $56.00 to $51.00 and set an "overweight" rating on the stock in a report on Monday, October 7th. Wells Fargo & Company decreased their target price on OneMain from $53.00 to $49.00 and set an "equal weight" rating on the stock in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reduced their target price on OneMain from $64.00 to $61.00 and set a "buy" rating for the company in a report on Tuesday, July 9th. Finally, StockNews.com downgraded OneMain from a "buy" rating to a "hold" rating in a report on Saturday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, OneMain has an average rating of "Moderate Buy" and a consensus price target of $54.00.

OneMain Price Performance

The company has a fifty day moving average of $46.99 and a 200-day moving average of $48.29. The firm has a market capitalization of $6.22 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.89 and a beta of 1.56.

OneMain (NYSE:OMF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.12. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.63%. During the same quarter last year, the firm earned $1.01 earnings per share. Equities analysts anticipate that OneMain Holdings, Inc. will post 4.91 EPS for the current year.

Insider Activity

In other OneMain news, SVP Michael A. Hedlund sold 2,400 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total transaction of $120,000.00. Following the transaction, the senior vice president now directly owns 20,947 shares of the company's stock, valued at $1,047,350. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Michael A. Hedlund sold 2,400 shares of the company's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total transaction of $120,000.00. Following the completion of the sale, the senior vice president now directly owns 20,947 shares of the company's stock, valued at approximately $1,047,350. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas H. Shulman sold 15,000 shares of OneMain 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 completion of the transaction, the chief executive officer now 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 90 days, insiders have sold 32,300 shares of company stock worth $1,534,275. 0.45% of the stock is owned by corporate insiders.

Institutional Trading of OneMain

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its stake in shares of OneMain by 6.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the financial services provider's stock worth $171,000 after acquiring an additional 200 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of OneMain by 6.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 36,536 shares of the financial services provider's stock valued at $1,867,000 after buying an additional 2,367 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of OneMain by 6.5% in the first quarter. Commonwealth Equity Services LLC now owns 10,234 shares of the financial services provider's stock valued at $523,000 after buying an additional 622 shares during the period. Central Pacific Bank Trust Division acquired a new stake in OneMain during the first quarter worth about $383,000. Finally, WBI Investments LLC increased its stake in OneMain by 385.9% during the first quarter. WBI Investments LLC now owns 42,257 shares of the financial services provider's stock valued at $2,159,000 after acquiring an additional 33,560 shares during the period. Institutional investors and hedge funds 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.