OneMain Holdings, Inc. to Post Q2 2024 Earnings of $0.84 Per Share, Seaport Res Ptn Forecasts (NYSE:OMF)

OneMain Holdings, Inc. (NYSE:OMF) – Seaport Res Ptn decreased their Q2 2024 earnings per share estimates for OneMain in a report released on Wednesday, May 1st. Seaport Res Ptn analyst W. Ryan now forecasts that the financial services provider will post earnings per share of $0.84 for the quarter, down from their previous estimate of $0.88. The consensus estimate for OneMain’s current full-year earnings is $5.67 per share. Seaport Res Ptn also issued estimates for OneMain’s Q3 2024 earnings at $1.48 EPS and Q4 2024 earnings at $1.58 EPS.

OMF has been the subject of several other reports. Barclays lowered their target price on OneMain from $57.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, February 8th. Citigroup cut their price objective on OneMain from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. JPMorgan Chase & Co. lifted their price objective on OneMain from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Cowen lifted their price objective on OneMain from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, StockNews.com raised OneMain from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.31.

OneMain Stock Performance

Shares of NYSE:OMF opened at $50.77 on Thursday. OneMain has a 52 week low of $33.67 and a 52 week high of $53.65. The firm has a market cap of $6.09 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 0.72 and a beta of 1.63. The firm’s fifty day moving average is $48.87 and its 200-day moving average is $45.58.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.07. OneMain had a net margin of 13.29% and a return on equity of 20.94%. 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 business earned $1.46 EPS.

OneMain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 8.19%. The ex-dividend date is Thursday, May 9th. This is a boost from OneMain’s previous quarterly dividend of $1.00. OneMain’s dividend payout ratio (DPR) is 77.97%.

Institutional Trading of OneMain

Hedge funds and other institutional investors have recently bought and sold shares of the business. Argent Capital Management LLC grew its holdings in shares of OneMain by 608.1% during the first quarter. Argent Capital Management LLC now owns 503,613 shares of the financial services provider’s stock valued at $25,730,000 after buying an additional 432,492 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in OneMain by 6.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 10,234 shares of the financial services provider’s stock valued at $523,000 after acquiring an additional 622 shares in the last quarter. UMB Bank n.a. boosted its stake in OneMain by 557.8% during the 1st quarter. UMB Bank n.a. now owns 1,342 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,138 shares during the last quarter. SlateStone Wealth LLC bought a new stake in OneMain during the 1st quarter worth approximately $216,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of OneMain by 4.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 105,133 shares of the financial services provider’s stock worth $5,371,000 after purchasing an additional 4,700 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

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.