OneMain (NYSE:OMF) Hits New 1-Year Low at $38.50

OneMain Holdings, Inc. (NYSE:OMFGet Rating)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $38.50 and last traded at $38.56, with a volume of 7258 shares. The stock had previously closed at $39.85.

OMF has been the subject of several recent research reports. StockNews.com initiated coverage on shares of OneMain in a report on Thursday, March 31st. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $75.00 target price on shares of OneMain in a report on Friday, April 29th. Citigroup cut their price objective on shares of OneMain from $72.00 to $54.00 in a report on Monday, May 2nd. Finally, Wells Fargo & Company cut their price objective on shares of OneMain from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, April 25th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $69.09.

The company’s fifty day simple moving average is $44.70 and its two-hundred day simple moving average is $48.14. The stock has a market capitalization of $4.79 billion, a PE ratio of 4.20 and a beta of 1.69.

OneMain (NYSE:OMFGet Rating) last posted its earnings results on Thursday, April 28th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.15. OneMain had a net margin of 25.60% and a return on equity of 40.03%. During the same quarter in the prior year, the company posted $3.37 earnings per share. Analysts expect that OneMain Holdings, Inc. will post 8.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Monday, May 9th were paid a dividend of $0.95 per share. The ex-dividend date was Friday, May 6th. This represents a $3.80 annualized dividend and a dividend yield of 9.94%. OneMain’s dividend payout ratio is currently 41.53%.

In related news, CEO Douglas H. Shulman bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were acquired at an average cost of $40.64 per share, with a total value of $101,600.00. Following the completion of the transaction, the chief executive officer now owns 348,612 shares of the company’s stock, valued at $14,167,591.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Douglas H. Shulman bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The stock was bought at an average cost of $40.23 per share, for a total transaction of $40,230.00. Following the completion of the transaction, the chief executive officer now directly owns 349,612 shares of the company’s stock, valued at approximately $14,064,890.76. The disclosure for this purchase can be found here. 0.13% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in OMF. Lindbrook Capital LLC raised its holdings in OneMain by 66.3% in the first quarter. Lindbrook Capital LLC now owns 547 shares of the financial services provider’s stock valued at $26,000 after buying an additional 218 shares during the period. Geneos Wealth Management Inc. raised its holdings in OneMain by 129.0% in the first quarter. Geneos Wealth Management Inc. now owns 710 shares of the financial services provider’s stock valued at $33,000 after buying an additional 400 shares during the period. AGF Investments LLC purchased a new stake in shares of OneMain during the first quarter valued at approximately $34,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of OneMain by 198.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 872 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 580 shares during the period. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of OneMain during the fourth quarter valued at approximately $50,000. 84.43% of the stock is currently owned by institutional investors and hedge funds.

About OneMain (NYSE:OMF)

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses. The company originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit insurance products comprising life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.

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