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

OneMain Holdings, Inc. (NYSE:OMF - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as $58.90 and last traded at $57.96, with a volume of 1772422 shares. The stock had previously closed at $57.62.

Analysts Set New Price Targets

Several research firms have commented on OMF. StockNews.com lowered OneMain from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. JMP Securities boosted their price target on OneMain from $60.00 to $62.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 31st. Barclays lowered shares of OneMain from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $52.00 to $46.00 in a research note on Tuesday, October 8th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $62.00 price target on shares of OneMain in a report on Thursday, January 16th. Finally, 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. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $56.69.

OneMain Stock Down 3.2 %

The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 0.50 and a beta of 1.58. The company has a 50 day simple moving average of $54.80 and a 200-day simple moving average of $50.86.

OneMain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Wednesday, February 12th will be issued a dividend of $1.04 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.49%. OneMain's dividend payout ratio (DPR) is 91.03%.

Insider Transactions at OneMain

In related news, CEO Douglas H. Shulman sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $54.19, for a total value of $1,083,800.00. Following the sale, the chief executive officer now owns 392,474 shares of the company's stock, valued at approximately $21,268,166.06. This trade represents a 4.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.45% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OMF. Quantinno Capital Management LP boosted its holdings in shares of OneMain by 0.7% during the third quarter. Quantinno Capital Management LP now owns 27,732 shares of the financial services provider's stock valued at $1,305,000 after acquiring an additional 204 shares during the period. Atria Wealth Solutions Inc. boosted its stake in OneMain by 5.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 4,724 shares of the financial services provider's stock valued at $246,000 after purchasing an additional 231 shares during the period. UMB Bank n.a. grew its position in OneMain by 13.9% in the 3rd quarter. UMB Bank n.a. now owns 2,026 shares of the financial services provider's stock worth $95,000 after purchasing an additional 247 shares during the last quarter. Avitas Wealth Management LLC grew its position in OneMain by 0.6% in the 4th quarter. Avitas Wealth Management LLC now owns 45,432 shares of the financial services provider's stock worth $2,368,000 after purchasing an additional 256 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of OneMain by 13.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider's stock valued at $110,000 after buying an additional 271 shares during the last quarter. 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.