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

OneMain Holdings, Inc. (NYSE:OMF) – Stock analysts at Northland Capmk dropped their Q2 2024 EPS estimates for OneMain in a note issued to investors on Wednesday, May 1st. Northland Capmk analyst M. Grondahl now forecasts that the financial services provider will post earnings per share of $1.17 for the quarter, down from their previous estimate of $1.26. The consensus estimate for OneMain’s current full-year earnings is $5.65 per share.

Several other research analysts also recently weighed in on OMF. Wells Fargo & Company upped their target price on OneMain from $48.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday. Barclays reduced their price objective on shares of OneMain from $57.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, February 8th. BMO Capital Markets increased their price objective on shares of OneMain from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft started coverage on shares of OneMain in a research note on Wednesday, January 10th. They set a “buy” rating and a $68.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of OneMain from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.62.

OneMain Trading Up 0.8 %

Shares of OMF stock opened at $51.20 on Thursday. OneMain has a 12-month low of $33.67 and a 12-month high of $53.65. The business’s 50 day moving average is $49.05 and its two-hundred day moving average is $45.71. The company has a market capitalization of $6.14 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.71 and a beta of 1.63.

OneMain (NYSE:OMF) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $907.93 million. During the same period in the prior year, the company posted $1.46 EPS.

OneMain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 8.13%. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from OneMain’s previous quarterly dividend of $1.00. OneMain’s dividend payout ratio is currently 77.97%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in shares of OneMain in the third quarter valued at approximately $26,000. Blue Trust Inc. boosted its stake in OneMain by 49.9% during the fourth quarter. Blue Trust Inc. now owns 730 shares of the financial services provider’s stock worth $36,000 after buying an additional 243 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in OneMain in the 4th quarter valued at $36,000. Operose Advisors LLC acquired a new stake in shares of OneMain in the 3rd quarter worth $40,000. Finally, Allworth Financial LP raised its holdings in shares of OneMain by 368.4% during the 3rd quarter. Allworth Financial LP now owns 1,068 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 840 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.

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.