OneMain (NYSE:OMF) Reaches New 12-Month High – Time to Buy?

OneMain Holdings, Inc. (NYSE:OMF) shares hit a new 52-week high during trading on Monday . The stock 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OMF shares. Wells Fargo & Company set a $75.00 target price on OneMain in a research report on Monday. Truist Financial started coverage on shares of OneMain in a research report on Monday, December 8th. They issued a “buy” rating and a $75.00 target price on the stock. Citigroup reissued a “market outperform” rating on shares of OneMain in a research note on Monday, November 24th. JMP Securities set a $68.00 price target on shares of OneMain in a research note on Monday, November 24th. Finally, JPMorgan Chase & Co. boosted their price objective on OneMain from $57.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $65.67.

OneMain Stock Performance

The stock’s 50 day simple moving average is $63.30 and its two-hundred day simple moving average is $59.86. The firm has a market capitalization of $8.30 billion, a PE ratio of 11.95, a price-to-earnings-growth 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, topping analysts’ consensus estimates of $1.58 by $0.32. The firm had revenue of $747.00 million for the quarter, compared to the consensus estimate of $1.24 billion. OneMain had a return on equity of 22.70% and a net margin of 13.15%.During the same quarter last year, the business posted $1.31 earnings per share. Equities research analysts expect that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Increases Dividend

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

Insider Buying and Selling

In other OneMain news, CEO Douglas H. Shulman sold 57,500 shares of OneMain stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $68.41, for a total transaction of $3,933,575.00. Following the transaction, the chief executive officer directly owned 174,100 shares of the company’s stock, valued at $11,910,181. The trade was a 24.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $59.20, for a total transaction of $296,000.00. Following the completion of the sale, the chief operating officer directly owned 88,221 shares of the company’s stock, valued at approximately $5,222,683.20. This trade represents a 5.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, 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

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of OneMain by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 11,970,406 shares of the financial services provider’s stock worth $675,849,000 after purchasing an additional 249,785 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in OneMain during the second quarter worth about $611,102,000. Capital International Investors increased its position in shares of OneMain by 0.8% during the third 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 last quarter. Brave Warrior Advisors LLC raised 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 acquiring an additional 526,449 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings 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 worth $224,723,000 after acquiring an additional 63,774 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

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.