OneMain (NYSE:OMF) Stock Crosses Below 50 Day Moving Average - Here's What Happened

OneMain Holdings, Inc. (NYSE:OMF - Get Free Report)'s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $53.81 and traded as low as $51.76. OneMain shares last traded at $52.13, with a volume of 498,327 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com lowered OneMain from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an "outperform" rating and set a $58.00 price objective on shares of OneMain in a report on Wednesday, October 16th. Barclays cut shares of OneMain from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $52.00 to $46.00 in a report on Tuesday, October 8th. Compass Point lifted their price target on shares of OneMain from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Stephens initiated coverage on shares of OneMain in a research note on Wednesday, November 13th. They issued an "overweight" rating and a $62.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, OneMain currently has an average rating of "Moderate Buy" and an average target price of $56.08.

OneMain Trading Down 0.6 %

The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 11.34, a P/E/G ratio of 0.69 and a beta of 1.56. The stock's 50-day moving average is $53.91 and its 200-day moving average is $49.94.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Tuesday, November 12th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 8.03%. The ex-dividend date of this dividend was Tuesday, November 12th. OneMain's dividend payout ratio is presently 91.03%.

Insider Transactions at OneMain

In other news, CEO Douglas H. Shulman sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total transaction of $1,083,800.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael A. Hedlund sold 1,992 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 $103,584.00. Following the transaction, the senior vice president now owns 18,955 shares in the company, valued at $985,660. This trade represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,492 shares of company stock valued at $1,582,384. Corporate insiders own 0.45% of the company's stock.

Hedge Funds Weigh In On OneMain

Hedge funds have recently added to or reduced their stakes in the business. Clearbridge Investments LLC grew its stake in OneMain by 1.3% during the 2nd quarter. Clearbridge Investments LLC now owns 1,914,355 shares of the financial services provider's stock worth $92,827,000 after buying an additional 24,338 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of OneMain during the second quarter valued at $608,000. TCW Group Inc. grew its position in shares of OneMain by 23.7% during the third quarter. TCW Group Inc. now owns 55,999 shares of the financial services provider's stock worth $2,636,000 after acquiring an additional 10,744 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of OneMain by 13.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider's stock worth $110,000 after acquiring an additional 271 shares during the period. Finally, AQR Capital Management LLC lifted its position in OneMain by 19.5% in the 2nd quarter. AQR Capital Management LLC now owns 678,499 shares of the financial services provider's stock valued at $32,900,000 after purchasing an additional 110,862 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

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.