OneMain (NYSE:OMF) Sets New 1-Year Low – Here’s What Happened

OneMain Holdings, Inc. (NYSE:OMF)’s share price reached a new 52-week low on Friday . The stock traded as low as $41.67 and last traded at $41.89, with a volume of 103700 shares changing hands. The stock had previously closed at $44.74.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Stephens restated an “overweight” rating and issued a $62.00 price target on shares of OneMain in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Barclays set a $56.00 price objective on shares of OneMain in a research note on Friday, March 14th. Royal Bank of Canada upped their target price on OneMain from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Evercore ISI started coverage on OneMain in a research report on Tuesday, March 25th. They set an “in-line” rating and a $58.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.17.

OneMain Stock Performance

The stock’s fifty day simple moving average is $52.22 and its two-hundred day simple moving average is $52.02. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 9.67, a price-to-earnings-growth ratio of 0.44 and a beta of 1.35.

OneMain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Wednesday, February 12th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 10.15%. The ex-dividend date was Wednesday, February 12th. OneMain’s dividend payout ratio (DPR) is presently 98.11%.

Insider Transactions at OneMain

In related news, SVP Michael A. Hedlund sold 2,808 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $56.09, for a total transaction of $157,500.72. Following the completion of the sale, the senior vice president now owns 15,831 shares of the company’s stock, valued at approximately $887,960.79. This represents a 15.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On OneMain

Several institutional investors have recently bought and sold shares of OMF. Legend Financial Advisors Inc. purchased a new position in shares of OneMain in the 4th quarter valued at $26,000. FNY Investment Advisers LLC purchased a new position in OneMain in the fourth quarter valued at about $26,000. Albion Financial Group UT acquired a new position in shares of OneMain during the fourth quarter worth about $26,000. Continuum Advisory LLC purchased a new stake in shares of OneMain in the third quarter worth about $28,000. Finally, IFP Advisors Inc grew its stake in shares of OneMain by 180.0% in the fourth quarter. IFP Advisors Inc now owns 770 shares of the financial services provider’s stock valued at $40,000 after buying an additional 495 shares in the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

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.