OneMain (NYSE:OMF) Hits New 12-Month High - Here's What Happened

OneMain Holdings, Inc. (NYSE:OMF - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $56.42 and last traded at $56.40, with a volume of 44227 shares traded. The stock had previously closed at $55.57.

Analysts Set New Price Targets

OMF has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of OneMain from $56.00 to $51.00 and set an "overweight" rating for the company in a research note on Monday, October 7th. JMP Securities upped their price target on shares of OneMain from $60.00 to $62.00 and gave the company a "market outperform" rating in a research note on Thursday, October 31st. Compass Point upped their price target on shares of OneMain from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Barclays lowered shares of OneMain from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $52.00 to $46.00 in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $58.00 price target on shares of OneMain in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $55.46.

OneMain Trading Up 1.9 %

The firm's fifty day moving average price is $49.39 and its 200 day moving average price is $48.80. The firm has a market capitalization of $6.76 billion, a PE ratio of 12.39, a P/E/G ratio of 0.68 and a beta of 1.54.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date was Tuesday, November 12th. OneMain's dividend payout ratio (DPR) is presently 91.03%.

Insider Buying and Selling

In other OneMain news, COO Micah R. Conrad sold 2,500 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total transaction of $130,000.00. Following the transaction, the chief operating officer now directly owns 102,239 shares of the company's stock, valued at $5,316,428. This trade represents a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas H. Shulman sold 5,000 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 $250,000.00. Following the transaction, the chief executive officer now directly owns 417,474 shares in the company, valued at approximately $20,873,700. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,792 shares of company stock valued at $2,187,784. Corporate insiders own 0.45% of the company's stock.

Hedge Funds Weigh In On OneMain

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TCW Group Inc. lifted its holdings in OneMain by 23.7% during the third quarter. TCW Group Inc. now owns 55,999 shares of the financial services provider's stock valued at $2,636,000 after purchasing an additional 10,744 shares in the last quarter. Geode Capital Management LLC raised its position in shares of OneMain by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,139,793 shares of the financial services provider's stock valued at $100,935,000 after buying an additional 13,978 shares during the last quarter. Barclays PLC raised its position in shares of OneMain by 22.0% in the third quarter. Barclays PLC now owns 100,831 shares of the financial services provider's stock valued at $4,747,000 after buying an additional 18,190 shares during the last quarter. Continuum Advisory LLC acquired a new stake in shares of OneMain in the third quarter valued at about $28,000. Finally, Y Intercept Hong Kong Ltd raised its position in shares of OneMain by 9.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 31,184 shares of the financial services provider's stock valued at $1,468,000 after buying an additional 2,776 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other 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.