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

OneMain Holdings, Inc. (NYSE:OMF) – Equities research analysts at Northland Capmk lifted their Q3 2024 earnings per share estimates for shares of OneMain in a report released on Wednesday, July 31st. Northland Capmk analyst M. Grondahl now anticipates that the financial services provider will earn $1.38 per share for the quarter, up from their prior forecast of $1.34. The consensus estimate for OneMain’s current full-year earnings is $5.37 per share. Northland Capmk also issued estimates for OneMain’s Q4 2024 earnings at $1.51 EPS and FY2024 earnings at $5.35 EPS.

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, topping analysts’ consensus estimates of $0.90 by $0.12. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.60%. During the same quarter last year, the company earned $1.01 EPS.

OMF has been the subject of a number of other reports. Barclays decreased their price objective on OneMain from $55.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lowered their price target on OneMain from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Northland Securities lifted their price objective on shares of OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. BTIG Research began coverage on shares of OneMain in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Finally, JMP Securities boosted their price target on shares of OneMain from $59.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, OneMain has a consensus rating of “Moderate Buy” and an average price target of $54.83.

OneMain Trading Up 2.3 %

Shares of NYSE:OMF opened at $45.40 on Monday. The firm’s 50 day moving average is $49.09 and its two-hundred day moving average is $48.77. The firm has a market capitalization of $5.44 billion, a P/E ratio of 8.85, a PEG ratio of 0.74 and a beta of 1.58. OneMain has a 52 week low of $35.00 and a 52 week high of $54.94.

Institutional Investors Weigh In On OneMain

A number of large investors have recently made changes to their positions in the company. Arizona State Retirement System grew its position in OneMain by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 31,853 shares of the financial services provider’s stock worth $1,545,000 after purchasing an additional 548 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of OneMain by 6.9% in the second quarter. Victory Capital Management Inc. now owns 37,999 shares of the financial services provider’s stock valued at $1,843,000 after purchasing an additional 2,446 shares in the last quarter. Impact Partnership Wealth LLC boosted its position in shares of OneMain by 21.9% in the second quarter. Impact Partnership Wealth LLC now owns 5,052 shares of the financial services provider’s stock worth $245,000 after buying an additional 908 shares during the period. Larson Financial Group LLC grew its holdings in shares of OneMain by 6.6% during the second quarter. Larson Financial Group LLC now owns 43,779 shares of the financial services provider’s stock valued at $2,123,000 after buying an additional 2,697 shares in the last quarter. Finally, Essex Financial Services Inc. raised its position in OneMain by 6.9% during the second quarter. Essex Financial Services Inc. now owns 4,226 shares of the financial services provider’s stock valued at $205,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Activity at OneMain

In other OneMain news, SVP Michael A. Hedlund sold 3,000 shares of OneMain stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.10, for a total value of $144,300.00. Following the transaction, the senior vice president now owns 28,147 shares in the company, valued at $1,353,870.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other OneMain news, COO Micah R. Conrad sold 7,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $50.63, for a total transaction of $379,725.00. Following the sale, the chief operating officer now owns 119,525 shares in the company, valued at approximately $6,051,550.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael A. Hedlund sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.10, for a total transaction of $144,300.00. Following the completion of the transaction, the senior vice president now owns 28,147 shares of the company’s stock, valued at $1,353,870.70. The disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 12th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 9.16%. OneMain’s payout ratio is currently 81.09%.

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.