Analysts Offer Predictions for OneMain Holdings, Inc.’s Q3 2024 Earnings (NYSE:OMF)

OneMain Holdings, Inc. (NYSE:OMF) – Stock analysts at Northland Capmk decreased their Q3 2024 EPS estimates for shares of OneMain in a research report issued to clients and investors on Wednesday, September 18th. Northland Capmk analyst M. Grondahl now expects that the financial services provider will post earnings of $1.15 per share for the quarter, down from their previous forecast of $1.38. The consensus estimate for OneMain’s current full-year earnings is $5.20 per share. Northland Capmk also issued estimates for OneMain’s Q4 2024 earnings at $0.95 EPS and FY2024 earnings at $4.57 EPS.

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. OneMain had a return on equity of 20.63% and a net margin of 12.33%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $918.74 million. During the same period last year, the business posted $1.01 EPS.

OMF has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reduced their price target 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. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 price objective on shares of OneMain in a research note on Tuesday, September 17th. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 target price on shares of OneMain in a research report on Tuesday. BTIG Research initiated coverage on OneMain in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, Barclays decreased their price objective on OneMain from $55.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.25.

OneMain Price Performance

OMF stock opened at $45.91 on Monday. OneMain has a 1-year low of $35.00 and a 1-year high of $54.94. The business has a 50-day moving average price of $48.03 and a 200 day moving average price of $48.76. The company has a market capitalization of $5.50 billion, a P/E ratio of 8.95, a PEG ratio of 0.72 and a beta of 1.56.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OMF. Norges Bank acquired a new position in shares of OneMain in the 4th quarter valued at about $62,732,000. Brave Warrior Advisors LLC boosted its position in OneMain by 21.1% in the 4th quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock worth $315,707,000 after purchasing an additional 1,118,166 shares in the last quarter. Capital International Investors grew its stake in shares of OneMain by 10.2% during the 1st quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock worth $488,937,000 after purchasing an additional 889,387 shares during the period. Clearbridge Investments LLC increased its holdings in shares of 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 purchasing an additional 743,034 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of OneMain by 7,566.2% in the 2nd quarter. Principal Financial Group Inc. now owns 718,172 shares of the financial services provider’s stock valued at $34,824,000 after purchasing an additional 708,804 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Transactions at OneMain

In related news, CEO Douglas H. Shulman sold 15,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $46.30, for a total value of $694,500.00. Following the completion of the transaction, the chief executive officer now directly owns 422,474 shares of the company’s stock, valued at approximately $19,560,546.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Douglas H. Shulman sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $46.30, for a total value of $694,500.00. Following the completion of the transaction, the chief executive officer now directly owns 422,474 shares in the company, valued at $19,560,546.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas H. Shulman sold 5,000 shares of OneMain stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the sale, the chief executive officer now directly owns 417,474 shares of the company’s stock, valued at approximately $20,873,700. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,300 shares of company stock worth $1,534,275. Insiders own 0.45% of the company’s stock.

OneMain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 9.06%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s dividend payout ratio is presently 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.