OneMain Holdings, Inc. (NYSE:OMF) to Issue $1.04 Quarterly Dividend

OneMain Holdings, Inc. (NYSE:OMF) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 1.04 per share by the financial services provider on Monday, November 18th. This represents a $4.16 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date is Tuesday, November 12th.

OneMain has raised its dividend payment by an average of 40.6% annually over the last three years. OneMain has a dividend payout ratio of 60.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect OneMain to earn $7.16 per share next year, which means the company should continue to be able to cover its $4.16 annual dividend with an expected future payout ratio of 58.1%.

OneMain Price Performance

NYSE OMF opened at $51.90 on Thursday. OneMain has a 12 month low of $35.53 and a 12 month high of $54.94. The company has a market capitalization of $6.22 billion, a P/E ratio of 10.12, a PEG ratio of 0.89 and a beta of 1.56. The company’s 50 day simple moving average is $46.99 and its 200 day simple moving average is $48.29.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.12. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $918.74 million. OneMain had a return on equity of 20.63% and a net margin of 12.33%. During the same quarter in the prior year, the company earned $1.01 earnings per share. On average, analysts anticipate that OneMain will post 4.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OMF shares. Wells Fargo & Company cut their target price on OneMain from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday, October 14th. StockNews.com lowered shares of OneMain from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 target price on shares of OneMain in a research report on Wednesday, October 16th. JMP Securities restated a “market outperform” rating and issued a $60.00 price target on shares of OneMain in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of OneMain from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, OneMain has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Insider Activity at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 15,000 shares of the company’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 transaction, the chief executive officer now directly owns 422,474 shares of the company’s stock, valued at $19,560,546.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Douglas H. Shulman sold 15,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 422,474 shares of the company’s stock, valued at approximately $19,560,546.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael A. Hedlund sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total transaction of $120,000.00. Following the transaction, the senior vice president now directly owns 20,947 shares in the company, valued at approximately $1,047,350. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,300 shares of company stock valued at $1,534,275. Insiders own 0.45% of the company’s stock.

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.