OneMain (NYSE:OMF) Hits New 12-Month High at $53.65

Shares of OneMain Holdings, Inc. (NYSE:OMF) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $53.65 and last traded at $52.69, with a volume of 601783 shares. The stock had previously closed at $50.85.

Wall Street Analysts Forecast Growth

OMF has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on OneMain from $43.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, January 4th. JMP Securities reiterated a “market outperform” rating and issued a $57.00 price objective on shares of OneMain in a report on Wednesday, April 17th. Stephens lowered their target price on OneMain from $61.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. Barclays reduced their target price on shares of OneMain from $57.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. Finally, Royal Bank of Canada raised their target price on shares of OneMain from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, OneMain presently has an average rating of “Moderate Buy” and a consensus price target of $51.54.

OneMain Price Performance

The firm has a market capitalization of $6.23 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.70 and a beta of 1.65. The firm’s 50 day simple moving average is $48.68 and its two-hundred day simple moving average is $45.44.

OneMain (NYSE:OMF) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.02. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $913.90 million. OneMain had a return on equity of 21.07% and a net margin of 14.04%. During the same period in the prior year, the firm earned $1.56 earnings per share. As a group, equities research analysts forecast that OneMain Holdings, Inc. will post 5.67 EPS for the current year.

OneMain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 20th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 7.69%. The ex-dividend date was Friday, February 16th. OneMain’s dividend payout ratio (DPR) is currently 75.19%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OMF. Norges Bank acquired a new stake in shares of OneMain during the 4th quarter worth approximately $62,732,000. Brave Warrior Advisors LLC increased its position in shares of OneMain by 21.1% during the 4th quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock worth $315,707,000 after purchasing an additional 1,118,166 shares during the last quarter. Argent Capital Management LLC lifted its position in OneMain by 608.1% in the first quarter. Argent Capital Management LLC now owns 503,613 shares of the financial services provider’s stock valued at $25,730,000 after buying an additional 432,492 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in OneMain by 36.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,366,621 shares of the financial services provider’s stock worth $67,238,000 after purchasing an additional 367,823 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of OneMain in the third quarter valued at approximately $12,613,000. 85.82% of the stock is currently owned by 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.