OneMain Holdings, Inc. (NYSE:OMF) Short Interest Up 22.7% in November

OneMain Holdings, Inc. (NYSE:OMF) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 5,900,000 shares, an increase of 22.7% from the October 31st total of 4,810,000 shares. Approximately 5.0% of the shares of the company are sold short. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is presently 5.1 days.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stephens assumed coverage on shares of OneMain in a research report on Wednesday, November 13th. They set an “overweight” rating and a $62.00 target price on the stock. Wells Fargo & Company increased their target price on shares of OneMain from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. StockNews.com lowered shares of OneMain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Barclays lowered shares of OneMain from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $52.00 to $46.00 in a research report on Tuesday, October 8th. Finally, Compass Point increased their price target on shares of OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, OneMain has a consensus rating of “Moderate Buy” and an average target price of $55.46.

OneMain Price Performance

Shares of OMF traded down $0.28 during trading hours on Monday, hitting $57.07. 378,225 shares of the stock were exchanged, compared to its average volume of 1,005,993. OneMain has a fifty-two week low of $41.70 and a fifty-two week high of $57.97. The business has a 50-day moving average of $50.24 and a 200-day moving average of $48.99. The firm has a market capitalization of $6.81 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.71 and a beta of 1.54.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Tuesday, November 12th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date of this dividend was Tuesday, November 12th. OneMain’s payout ratio is 91.03%.

Insider Activity

In related news, COO Micah R. Conrad sold 886 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $50.00, for a total value of $44,300.00. Following the transaction, the chief operating officer now owns 104,739 shares in the company, valued at approximately $5,236,950. This represents a 0.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Hedlund sold 2,400 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $46.00, for a total transaction of $110,400.00. Following the completion of the transaction, the senior vice president now owns 25,747 shares in the company, valued at approximately $1,184,362. This trade represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,178 shares of company stock valued at $2,107,084. 0.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On OneMain

Large investors have recently bought and sold shares of the stock. Continuum Advisory LLC bought a new position in shares of OneMain during the third quarter valued at about $28,000. EdgeRock Capital LLC bought a new stake in OneMain in the second quarter worth about $31,000. International Assets Investment Management LLC bought a new stake in OneMain in the second quarter worth about $34,000. Blue Trust Inc. raised its position in shares of OneMain by 43.4% in the second quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 225 shares during the period. Finally, Abich Financial Wealth Management LLC raised its position in shares of OneMain by 46.1% in the first quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 304 shares during the period. 85.82% of the stock is currently owned by institutional investors and hedge funds.

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.