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

OneMain Holdings, Inc. (NYSE:OMF) – Analysts at Northland Capmk dropped their Q3 2024 earnings per share estimates for shares of OneMain in a research note issued to investors on Wednesday, September 18th. Northland Capmk analyst M. Grondahl now forecasts that the financial services provider will post earnings per share of $1.15 for the quarter, down from their prior estimate 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.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered 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. BTIG Research initiated coverage on shares of OneMain in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of OneMain from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Barclays cut their target price on shares of OneMain from $55.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Finally, JMP Securities upped their target price on OneMain from $59.00 to $60.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, OneMain currently has an average rating of “Moderate Buy” and an average target price of $55.25.

OneMain Trading Down 2.1 %

Shares of NYSE OMF opened at $49.09 on Monday. OneMain has a 12-month low of $35.00 and a 12-month high of $54.94. The company has a market cap of $5.88 billion, a P/E ratio of 9.57, a P/E/G ratio of 0.72 and a beta of 1.56. The stock has a fifty day moving average price of $48.23 and a 200 day moving average price of $48.78.

OneMain (NYSE:OMF) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share for the quarter, beating 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $918.74 million. During the same period in the previous year, the company posted $1.01 EPS.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.47%. The ex-dividend date was Monday, August 12th. OneMain’s dividend payout ratio (DPR) is 81.09%.

Insiders Place Their Bets

In other news, SVP Michael A. Hedlund sold 2,400 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $46.00, for a total value of $110,400.00. Following the sale, the senior vice president now owns 25,747 shares of the company’s stock, valued at approximately $1,184,362. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Michael A. Hedlund sold 2,400 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $46.00, for a total value of $110,400.00. Following the sale, the senior vice president now directly owns 25,747 shares in the company, valued at approximately $1,184,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas H. Shulman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the sale, the chief executive officer now owns 417,474 shares of the company’s stock, valued at $20,873,700. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,300 shares of company stock worth $1,534,275. 0.45% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On OneMain

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of OneMain in the 4th quarter valued at approximately $62,732,000. Brave Warrior Advisors LLC raised its position in 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 valued at $315,707,000 after buying an additional 1,118,166 shares during the period. Capital International Investors lifted its stake in OneMain by 10.2% in the 1st quarter. Capital International Investors now owns 9,570,103 shares of the financial services provider’s stock worth $488,937,000 after acquiring an additional 889,387 shares in the last quarter. Clearbridge Investments LLC boosted its position in OneMain by 64.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,890,017 shares of the financial services provider’s stock worth $96,561,000 after acquiring an additional 743,034 shares during the period. Finally, Principal Financial Group Inc. grew its stake in OneMain by 7,566.2% during 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 acquiring an additional 708,804 shares in the last quarter. 85.82% of the stock is currently 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.