OneMain Holdings, Inc. (NYSE:OMF) to Post Q3 2024 Earnings of $1.15 Per Share, Northland Capmk Forecasts

OneMain Holdings, Inc. (NYSE:OMF) – Equities research analysts at Northland Capmk reduced their Q3 2024 earnings per share (EPS) estimates for OneMain in a report issued on Wednesday, September 18th. Northland Capmk analyst M. Grondahl now forecasts that the financial services provider will post earnings of $1.15 per share for the quarter, down from their prior 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 issued its quarterly earnings results 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 net margin of 12.33% and a return on equity of 20.63%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. During the same quarter in the previous year, the firm earned $1.01 EPS.

Other research analysts have also issued research reports about the company. Royal Bank of Canada restated an “outperform” rating and issued a $60.00 price objective on shares of OneMain in a report on Tuesday, September 17th. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of OneMain in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut 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. JPMorgan Chase & Co. upped their price objective on OneMain from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Finally, Northland Securities increased their price objective on OneMain from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, OneMain currently has an average rating of “Moderate Buy” and an average price target of $55.25.

OneMain Trading Down 5.0 %

OMF stock opened at $45.91 on Monday. The business’s 50-day moving average is $48.03 and its 200 day moving average is $48.76. OneMain has a 12-month low of $35.00 and a 12-month high of $54.94. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 0.72 and a beta of 1.56.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were given 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 currently 81.09%.

Insiders Place Their Bets

In other news, CEO Douglas H. Shulman sold 15,000 shares of the firm’s 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 owns 422,474 shares of the company’s stock, valued at $19,560,546.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Douglas H. Shulman sold 15,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $46.30, for a total value of $694,500.00. Following the sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Hedlund sold 2,400 shares of OneMain stock in a transaction 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 transaction, the senior vice president now owns 20,947 shares of the company’s stock, valued at $1,047,350. The disclosure for this sale can be found here. Insiders have sold 32,300 shares of company stock worth $1,534,275 over the last three months. Company insiders own 0.45% of the company’s stock.

Institutional Trading of OneMain

A number of large investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in OneMain by 1,125.3% during the 4th quarter. Principal Financial Group Inc. now owns 107,985 shares of the financial services provider’s stock worth $5,313,000 after acquiring an additional 99,172 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in OneMain by 21.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,405 shares of the financial services provider’s stock valued at $69,000 after buying an additional 251 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in OneMain in the fourth quarter valued at $201,000. Norges Bank acquired a new stake in OneMain in the fourth quarter valued at $62,732,000. Finally, D.A. Davidson & CO. lifted its holdings in OneMain by 14.4% during the 4th quarter. D.A. Davidson & CO. now owns 10,586 shares of the financial services provider’s stock worth $521,000 after buying an additional 1,335 shares during the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

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.