OneMain Holdings, Inc. Expected to Earn Q3 2024 Earnings of $1.38 Per Share (NYSE:OMF)

OneMain Holdings, Inc. (NYSE:OMF) – Stock analysts at Northland Capmk raised their Q3 2024 earnings estimates for OneMain in a report released on Wednesday, July 31st. Northland Capmk analyst M. Grondahl now forecasts that the financial services provider will earn $1.38 per share for the quarter, up from their prior estimate of $1.34. The consensus estimate for OneMain’s current full-year earnings is $5.37 per share. Northland Capmk also issued estimates for OneMain’s Q4 2024 earnings at $1.51 EPS and FY2024 earnings at $5.35 EPS.

Several other equities research analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on OneMain from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. JMP Securities lifted their price target on OneMain from $59.00 to $60.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. BMO Capital Markets upped their price objective on shares of OneMain from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Barclays reduced their target price on shares of OneMain from $55.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Finally, TD Cowen increased their price target on shares of OneMain from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.83.

OneMain Trading Up 2.3 %

OMF stock opened at $45.40 on Monday. OneMain has a 12-month low of $35.00 and a 12-month high of $54.94. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 0.74 and a beta of 1.58. The business’s 50-day moving average is $49.09 and its 200 day moving average is $48.77.

OneMain (NYSE:OMF) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.12. OneMain had a net margin of 12.33% and a return on equity of 20.60%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $918.74 million. During the same quarter in the prior year, the firm earned $1.01 EPS.

Institutional Trading of OneMain

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in OneMain during the 4th quarter worth about $62,732,000. Brave Warrior Advisors LLC increased its stake in shares of OneMain by 21.1% during the fourth quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock worth $315,707,000 after buying an additional 1,118,166 shares during the period. Capital International Investors increased its stake in shares of OneMain by 10.2% during the first quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock worth $488,937,000 after buying an additional 889,387 shares during the period. Clearbridge Investments LLC raised its holdings in OneMain by 64.8% in the first 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. Finally, Principal Financial Group Inc. lifted its stake in OneMain by 7,566.2% in the second quarter. Principal Financial Group Inc. now owns 718,172 shares of the financial services provider’s stock worth $34,824,000 after acquiring an additional 708,804 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Michael A. Hedlund sold 3,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.10, for a total transaction of $144,300.00. Following the transaction, the senior vice president now owns 28,147 shares of the company’s stock, valued at approximately $1,353,870.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other OneMain news, COO Micah R. Conrad sold 7,500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $50.63, for a total transaction of $379,725.00. Following the sale, the chief operating officer now directly owns 119,525 shares in the company, valued at approximately $6,051,550.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Michael A. Hedlund sold 3,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $48.10, for a total transaction of $144,300.00. Following the completion of the transaction, the senior vice president now owns 28,147 shares of the company’s stock, valued at approximately $1,353,870.70. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

OneMain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 12th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $4.16 annualized dividend and a dividend yield of 9.16%. OneMain’s dividend payout ratio is currently 81.09%.

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.