OneMain (NYSE:OMF) Trading 7.4% Higher – Time to Buy?

OneMain Holdings, Inc. (NYSE:OMF) shares shot up 7.4% during trading on Wednesday . The stock traded as high as $51.63 and last traded at $50.99. 346,857 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 983,246 shares. The stock had previously closed at $47.48.

Analyst Upgrades and Downgrades

Several research firms recently commented on OMF. Deutsche Bank Aktiengesellschaft cut their price objective on shares of OneMain from $64.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. StockNews.com downgraded shares of OneMain from a “buy” rating to a “hold” rating in a report on Saturday. Barclays downgraded shares of OneMain from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $52.00 to $46.00 in a report on Tuesday, October 8th. JPMorgan Chase & Co. cut their price target on shares of OneMain from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 price target on shares of OneMain in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.00.

OneMain Stock Up 10.7 %

The stock has a 50-day simple moving average of $46.99 and a two-hundred day simple moving average of $48.29. The firm has a market cap of $6.30 billion, a PE ratio of 10.17, a P/E/G ratio of 0.89 and a beta of 1.56.

OneMain (NYSE:OMF) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, topping the consensus estimate of $0.90 by $0.12. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $918.74 million. OneMain had a return on equity of 20.63% and a net margin of 12.33%. During the same quarter in the previous year, the business earned $1.01 earnings per share. Research analysts expect that OneMain Holdings, Inc. will post 4.91 earnings per share for the current year.

Insider Transactions at OneMain

In other news, SVP Michael A. Hedlund sold 2,400 shares of OneMain stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $46.00, for a total value of $110,400.00. Following the transaction, the senior vice president now owns 25,747 shares in the company, valued at approximately $1,184,362. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Michael A. Hedlund sold 2,400 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $46.00, for a total value of $110,400.00. Following the sale, the senior vice president now directly owns 25,747 shares of the company’s stock, valued at $1,184,362. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Micah R. Conrad sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $45.75, for a total value of $114,375.00. Following the completion of the sale, the chief operating officer now directly owns 117,025 shares in the company, valued at $5,353,893.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,300 shares of company stock worth $1,534,275. Company insiders own 0.45% of the company’s stock.

Institutional Trading of OneMain

Large investors have recently bought and sold shares of the company. Clearbridge Investments LLC boosted its position in OneMain by 64.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,890,017 shares of the financial services provider’s stock valued at $96,561,000 after acquiring an additional 743,034 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of OneMain in the 2nd quarter worth approximately $608,000. Swedbank AB bought a new stake in shares of OneMain in the 1st quarter worth approximately $817,000. Argent Capital Management LLC boosted its position in shares of OneMain by 33.6% in the 2nd quarter. Argent Capital Management LLC now owns 672,952 shares of the financial services provider’s stock worth $32,631,000 after purchasing an additional 169,339 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of OneMain by 13.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 271 shares in the last quarter. 85.82% of the stock is owned by 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.