OneMain Holdings, Inc. (NYSE:OMF) Forecasted to Post FY2024 Earnings of $5.62 Per Share

OneMain Holdings, Inc. (NYSE:OMF) – Analysts at Northland Capmk raised their FY2024 earnings per share estimates for OneMain in a research report issued on Wednesday, May 1st. Northland Capmk analyst M. Grondahl now expects that the financial services provider will earn $5.62 per share for the year, up from their prior forecast of $5.49. The consensus estimate for OneMain’s current full-year earnings is $5.68 per share. Northland Capmk also issued estimates for OneMain’s Q4 2024 earnings at $1.56 EPS.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.38 by $0.07. OneMain had a net margin of 13.29% and a return on equity of 20.78%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $907.93 million. During the same quarter last year, the firm posted $1.46 earnings per share.

A number of other equities research analysts have also issued reports on OMF. TD Cowen increased their price target on OneMain from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. Northland Securities cut shares of OneMain from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $46.00 to $49.00 in a report on Wednesday, January 17th. Royal Bank of Canada raised their price objective on shares of OneMain from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, April 1st. JPMorgan Chase & Co. boosted their target price on shares of OneMain from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their price target on OneMain from $48.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.62.

OneMain Trading Up 0.8 %

OneMain stock opened at $51.20 on Friday. The firm has a market capitalization of $6.13 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.70 and a beta of 1.63. OneMain has a twelve month low of $33.67 and a twelve month high of $53.65. The stock’s fifty day simple moving average is $49.05 and its 200-day simple moving average is $45.75.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OMF. WBI Investments LLC grew its position in shares of OneMain by 385.9% during the first quarter. WBI Investments LLC now owns 42,257 shares of the financial services provider’s stock worth $2,159,000 after acquiring an additional 33,560 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in OneMain during the 1st quarter worth $383,000. Argent Capital Management LLC grew its position in OneMain by 608.1% during the 1st quarter. Argent Capital Management LLC now owns 503,613 shares of the financial services provider’s stock worth $25,730,000 after purchasing an additional 432,492 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in OneMain by 6.5% in the first quarter. Commonwealth Equity Services LLC now owns 10,234 shares of the financial services provider’s stock valued at $523,000 after purchasing an additional 622 shares during the period. Finally, UMB Bank n.a. raised its holdings in shares of OneMain by 557.8% in the first quarter. UMB Bank n.a. now owns 1,342 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,138 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from OneMain’s previous quarterly dividend of $1.00. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.13%. OneMain’s dividend payout ratio is 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.