OneMain (NYSE:OMF) Sets New 52-Week High – Here’s Why

OneMain Holdings, Inc. (NYSE:OMF) reached 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 changing hands. The stock had previously closed at $57.62.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OMF. JMP Securities increased their target price on OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $62.00 price objective on shares of OneMain in a research note on Thursday, January 16th. Wells Fargo & Company boosted their target price on shares of OneMain from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. StockNews.com cut shares of OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Barclays lowered shares of OneMain from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $52.00 to $46.00 in a research report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, OneMain presently has an average rating of “Moderate Buy” and an average target price of $56.69.

OneMain Stock Performance

The stock has a 50-day simple moving average of $54.82 and a 200 day simple moving average of $50.85. The stock has a market capitalization of $6.84 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 0.50 and a beta of 1.58.

Insider Buying and Selling

In other news, CEO Douglas H. Shulman sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total value of $1,083,800.00. Following the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On OneMain

Institutional investors have recently made changes to their positions in the stock. Legend Financial Advisors Inc. bought a new position in OneMain during the fourth quarter worth about $26,000. FNY Investment Advisers LLC bought a new position in OneMain during the 4th quarter worth approximately $26,000. Albion Financial Group UT acquired a new position in OneMain during the fourth quarter valued at approximately $26,000. Continuum Advisory LLC bought a new stake in OneMain in the third quarter valued at approximately $28,000. Finally, Richardson Financial Services Inc. acquired a new stake in OneMain in the fourth quarter worth $44,000. 85.82% of the stock is owned by institutional investors and hedge funds.

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.