OneMain (NYSE:OMF) Hits New 12-Month High – What’s Next?

Shares of OneMain Holdings, Inc. (NYSE:OMF) reached a new 52-week high during mid-day trading on Wednesday . The stock 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.

Wall Street Analyst Weigh In

OMF has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Stephens began coverage on OneMain in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $62.00 price objective on the stock. JMP Securities upped their target price on OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. StockNews.com lowered shares of OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Barclays downgraded shares of OneMain from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $52.00 to $46.00 in a report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.69.

OneMain Stock Performance

The company has a market cap of $6.92 billion, a P/E ratio of 12.68, a P/E/G ratio of 0.50 and a beta of 1.58. The stock has a 50-day simple moving average of $54.75 and a 200 day simple moving average of $50.76.

Insiders Place Their Bets

In other OneMain news, CEO Douglas H. Shulman sold 20,000 shares of OneMain stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $54.19, for a total transaction of $1,083,800.00. Following the sale, the chief executive officer now directly owns 392,474 shares of the company’s stock, valued at approximately $21,268,166.06. The trade was a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 modified their holdings of OMF. Legend Financial Advisors Inc. acquired a new position in OneMain during the fourth quarter worth $26,000. FNY Investment Advisers LLC bought a new stake in shares of OneMain in the 4th quarter worth about $26,000. Albion Financial Group UT acquired a new stake in shares of OneMain during the 4th quarter worth about $26,000. Continuum Advisory LLC bought a new position in OneMain during the 3rd quarter valued at about $28,000. Finally, Richardson Financial Services Inc. acquired a new position in OneMain in the fourth quarter valued at about $44,000. Institutional investors own 85.82% of the company’s stock.

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.