OneMain (NYSE:OMF) Reaches New 12-Month High – Still a Buy?

OneMain Holdings, Inc. (NYSE:OMF) shares reached a new 52-week high during mid-day trading 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Compass Point upped their target price on OneMain from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stephens began coverage on shares of OneMain in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $62.00 price objective on the stock. Barclays lowered shares of OneMain from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $52.00 to $46.00 in a research note on Tuesday, October 8th. JMP Securities upped their price target on shares of OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. reduced their price objective on OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.69.

OneMain Stock Up 0.5 %

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

Insider Buying and Selling at OneMain

In related news, CEO Douglas H. Shulman sold 20,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 392,474 shares in the company, valued at $21,268,166.06. This represents a 4.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OMF. Allworth Financial LP grew its position in OneMain by 21.6% during the fourth quarter. Allworth Financial LP now owns 1,624 shares of the financial services provider’s stock worth $93,000 after buying an additional 288 shares in the last quarter. Principal Securities Inc. lifted its position in shares of OneMain by 28.7% in the 4th quarter. Principal Securities Inc. now owns 1,675 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 374 shares during the period. Vista Finance LLC acquired a new stake in shares of OneMain during the 4th quarter worth approximately $331,000. Blue Trust Inc. grew its holdings in shares of OneMain by 36.9% during the 4th quarter. Blue Trust Inc. now owns 1,669 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 450 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of OneMain during the fourth quarter valued at approximately $126,000. 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.