Northland Capmk Brokers Boost Earnings Estimates for OneMain Holdings, Inc. (NYSE:OMF)

OneMain Holdings, Inc. (NYSE:OMF) – Investment analysts at Northland Capmk boosted their FY2024 earnings per share estimates for shares of OneMain in a report released on Wednesday, May 1st. Northland Capmk analyst M. Grondahl now expects that the financial services provider will post earnings per share of $5.62 for the year, up from their prior estimate 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 released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.38 by $0.07. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $907.93 million. OneMain had a return on equity of 20.78% and a net margin of 13.29%. During the same period last year, the company earned $1.46 EPS.

Several other equities research analysts have also recently issued reports on the stock. JMP Securities raised their target price on shares of OneMain from $57.00 to $62.00 and gave the stock a “market outperform” rating in a report on Wednesday. StockNews.com upgraded OneMain from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th. Citigroup reduced their price objective on OneMain from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Royal Bank of Canada raised their target price on OneMain from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Finally, TD Cowen boosted their price target on OneMain from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.62.

OneMain Stock Up 0.8 %

Shares of NYSE OMF opened at $51.20 on Friday. The firm’s 50-day moving average price is $49.05 and its 200-day moving average price is $45.75. OneMain has a 52-week low of $33.67 and a 52-week high of $53.65. The company has a market cap of $6.13 billion, a PE ratio of 9.98, a PEG ratio of 0.70 and a beta of 1.63.

Institutional Trading of OneMain

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in OneMain in the 4th quarter worth $62,732,000. Brave Warrior Advisors LLC boosted its stake in shares of OneMain by 21.1% in the fourth quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider’s stock worth $315,707,000 after acquiring an additional 1,118,166 shares during the period. Argent Capital Management LLC grew its position 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 worth $25,730,000 after purchasing an additional 432,492 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in OneMain by 36.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,366,621 shares of the financial services provider’s stock valued at $67,238,000 after purchasing an additional 367,823 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in OneMain in the 3rd quarter worth approximately $12,613,000. 85.82% of the stock is currently owned by institutional investors.

OneMain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be paid 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%.

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.