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

OneMain Holdings, Inc. (NYSE:OMF) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 5,900,000 shares, a growth of 22.7% from the October 31st total of 4,810,000 shares. Based on an average daily volume of 1,150,000 shares, the short-interest ratio is currently 5.1 days. Currently, 5.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 price objective on shares of OneMain in a report on Wednesday, October 16th. JMP Securities boosted their price target on shares of OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered their target price on OneMain from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. StockNews.com downgraded OneMain from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Stephens assumed coverage on OneMain in a report on Wednesday, November 13th. They issued an “overweight” rating and a $62.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.46.

OneMain Stock Performance

Shares of OMF stock traded down $0.24 during midday trading on Monday, hitting $57.11. 979,869 shares of the company were exchanged, compared to its average volume of 1,008,677. OneMain has a 52 week low of $41.70 and a 52 week high of $57.97. The firm has a market capitalization of $6.82 billion, a P/E ratio of 12.50, a PEG ratio of 0.71 and a beta of 1.54. The firm’s 50 day moving average price is $50.42 and its two-hundred day moving average price is $49.04.

OneMain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 7.28%. The ex-dividend date of this dividend was Tuesday, November 12th. OneMain’s payout ratio is 91.03%.

Insider Activity

In other news, COO Micah R. Conrad sold 886 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $44,300.00. Following the completion of the transaction, the chief operating officer now directly owns 104,739 shares of the company’s stock, valued at $5,236,950. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael A. Hedlund sold 2,400 shares of OneMain stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total value of $120,000.00. Following the completion of the sale, the senior vice president now directly owns 20,947 shares in the company, valued at approximately $1,047,350. This represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,178 shares of company stock worth $2,107,084 in the last 90 days. Corporate insiders own 0.45% of the company’s stock.

Institutional Trading of OneMain

Several hedge funds have recently added to or reduced their stakes in OMF. B. Riley Wealth Advisors Inc. grew its position in shares of OneMain by 11.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,421 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 543 shares in the last quarter. Swedbank AB bought a new position in OneMain during the 1st quarter worth $817,000. Burney Co. raised its holdings in OneMain by 35.6% in the 1st quarter. Burney Co. now owns 26,812 shares of the financial services provider’s stock valued at $1,370,000 after acquiring an additional 7,033 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of OneMain during the 1st quarter valued at $493,000. Finally, DekaBank Deutsche Girozentrale raised its stake in OneMain by 7.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 6,287 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 431 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

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.