OneMain (NYSE:OMF) Reaches New 52-Week High – Should You Buy?

OneMain Holdings, Inc. (NYSE:OMF)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $58.90 and last traded at $57.96, with a volume of 1772422 shares. The stock had previously closed at $57.62.

Analyst Upgrades and Downgrades

Several analysts have recently commented on OMF shares. Compass Point increased their target price on OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays cut shares of OneMain from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $52.00 to $46.00 in a research report on Tuesday, October 8th. JPMorgan Chase & Co. reduced 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. StockNews.com lowered shares of OneMain from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price objective on shares of OneMain in a report on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, OneMain presently has an average rating of “Moderate Buy” and a consensus target price of $56.69.

OneMain Stock Up 0.6 %

The business has a fifty day moving average of $54.75 and a 200 day moving average of $50.76. The firm 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.

Insider Activity

In other news, CEO Douglas H. Shulman sold 20,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 392,474 shares of the company’s stock, valued at $21,268,166.06. The trade was a 4.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of OneMain by 0.8% during the third quarter. State Street Corp now owns 2,140,861 shares of the financial services provider’s stock worth $100,770,000 after purchasing an additional 16,615 shares during the period. Geode Capital Management LLC increased its stake in OneMain by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,139,793 shares of the financial services provider’s stock worth $100,935,000 after purchasing an additional 13,978 shares in the last quarter. Clearbridge Investments LLC raised its holdings in OneMain by 1.3% during the 2nd quarter. Clearbridge Investments LLC now owns 1,914,355 shares of the financial services provider’s stock worth $92,827,000 after buying an additional 24,338 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in OneMain by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,412,436 shares of the financial services provider’s stock valued at $66,483,000 after buying an additional 30,558 shares in the last quarter. Finally, Basswood Capital Management L.L.C. boosted its holdings in shares of OneMain by 12.3% in the third quarter. Basswood Capital Management L.L.C. now owns 1,030,423 shares of the financial services provider’s stock valued at $48,502,000 after buying an additional 113,018 shares during the period. 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.