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

OneMain Holdings, Inc. (NYSE:OMF) – Northland Capmk lifted their FY2024 earnings estimates for shares of OneMain in a research note issued on Wednesday, May 1st. Northland Capmk analyst M. Grondahl now anticipates that the financial services provider will post earnings of $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 $5.65 per share. Northland Capmk also issued estimates for OneMain’s Q4 2024 earnings at $1.56 EPS.

Several other brokerages have also issued reports on OMF. Deutsche Bank Aktiengesellschaft started coverage on shares of OneMain in a research report on Wednesday, January 10th. They set a “buy” rating and a $68.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of OneMain from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday. 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 report on Thursday. Northland Securities cut OneMain from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $46.00 to $49.00 in a report on Wednesday, January 17th. Finally, Barclays reduced their price objective on OneMain from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.62.

OneMain Trading Up 0.8 %

Shares of NYSE OMF opened at $51.20 on Friday. The business has a 50-day moving average of $49.05 and a 200-day moving average of $45.71. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.71 and a beta of 1.63. OneMain has a 12 month low of $33.67 and a 12 month high of $53.65.

OneMain (NYSE:OMF) last posted its earnings results 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. OneMain had a return on equity of 20.94% and a net margin of 13.29%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $907.93 million. During the same period in the previous year, the business earned $1.46 earnings per share.

Hedge Funds Weigh In On OneMain

A number of hedge funds have recently modified their holdings of OMF. Vanguard Group Inc. increased its stake in shares of OneMain by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 11,943,855 shares of the financial services provider’s stock valued at $587,638,000 after buying an additional 125,032 shares during the period. Brave Warrior Advisors LLC boosted its holdings in 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 valued at $315,707,000 after acquiring an additional 1,118,166 shares in the last quarter. Dimensional Fund Advisors LP increased its position in OneMain by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,921,164 shares of the financial services provider’s stock valued at $143,727,000 after purchasing an additional 78,106 shares during the period. Brandes Investment Partners LP lifted its position in shares of OneMain by 10.2% in the 4th quarter. Brandes Investment Partners LP now owns 1,916,484 shares of the financial services provider’s stock worth $94,291,000 after purchasing an additional 177,993 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors 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 paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 8.13%. This is an increase from OneMain’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, May 9th. OneMain’s payout ratio is presently 77.97%.

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.