OneMain (NYSE:OMF) Hits New 52-Week High on Earnings Beat

OneMain Holdings, Inc. (NYSE:OMF)’s share price reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $53.65 and last traded at $52.69, with a volume of 601783 shares traded. The stock had previously closed at $50.85.

The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.07. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $907.93 million. OneMain had a return on equity of 20.94% and a net margin of 13.29%. During the same quarter in the prior year, the company posted $1.46 earnings per share.

OneMain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be issued a dividend of $1.04 per share. This is a positive change from OneMain’s previous quarterly dividend of $1.00. This represents a $4.16 dividend on an annualized basis and a yield of 8.19%. The ex-dividend date of this dividend is Thursday, May 9th. OneMain’s dividend payout ratio (DPR) is 77.97%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. TD Cowen raised their target price on shares of OneMain from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on OneMain from $43.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 4th. Barclays cut their price target on OneMain from $57.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, February 8th. StockNews.com upgraded OneMain from a “hold” rating to a “buy” rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada raised their target price on shares of OneMain from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.31.

Hedge Funds Weigh In On OneMain

Several hedge funds have recently added to or reduced their stakes in OMF. Argent Capital Management LLC grew its stake in shares of OneMain by 608.1% during the first quarter. Argent Capital Management LLC now owns 503,613 shares of the financial services provider’s stock valued at $25,730,000 after buying an additional 432,492 shares during the last quarter. Commonwealth Equity Services LLC grew its position in OneMain by 6.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 10,234 shares of the financial services provider’s stock valued at $523,000 after acquiring an additional 622 shares during the last quarter. UMB Bank n.a. grew its position in OneMain by 557.8% in the 1st quarter. UMB Bank n.a. now owns 1,342 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 1,138 shares during the last quarter. SlateStone Wealth LLC purchased a new stake in OneMain in the first quarter worth $216,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of OneMain by 4.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 105,133 shares of the financial services provider’s stock worth $5,371,000 after purchasing an additional 4,700 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors.

OneMain Stock Down 2.6 %

The stock has a market capitalization of $6.09 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 0.72 and a beta of 1.63. The stock’s 50 day moving average price is $48.87 and its 200-day moving average price is $45.58.

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.