Northland Capmk Weighs in on OneMain Holdings, Inc.’s Q2 2024 Earnings (NYSE:OMF)

OneMain Holdings, Inc. (NYSE:OMF) – Investment analysts at Northland Capmk dropped their Q2 2024 earnings per share (EPS) estimates for shares of OneMain in a report released on Wednesday, May 22nd. Northland Capmk analyst M. Grondahl now anticipates that the financial services provider will post earnings per share of $0.92 for the quarter, down from their previous estimate of $1.17. The consensus estimate for OneMain’s current full-year earnings is $5.67 per share. Northland Capmk also issued estimates for OneMain’s Q4 2024 earnings at $1.47 EPS, FY2024 earnings at $5.19 EPS, Q1 2025 earnings at $1.48 EPS, Q3 2025 earnings at $1.61 EPS, Q4 2025 earnings at $1.85 EPS and FY2025 earnings at $6.38 EPS.

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 20.78% and a net margin of 13.29%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $907.93 million. During the same period last year, the company earned $1.46 earnings per share.

Several other analysts have also commented on OMF. 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 report on Wednesday, May 1st. BMO Capital Markets lifted their price target on OneMain from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. TD Cowen increased their price target on OneMain from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. StockNews.com raised OneMain from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th. Finally, Citigroup dropped their price target on shares of OneMain from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, OneMain currently has an average rating of “Moderate Buy” and a consensus target price of $54.62.

OneMain Price Performance

Shares of NYSE OMF opened at $48.34 on Friday. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.67 and a beta of 1.63. The firm’s 50 day simple moving average is $49.72 and its 200-day simple moving average is $47.08. OneMain has a 12 month low of $35.00 and a 12 month high of $53.65.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC purchased a new position in shares of OneMain in the first quarter valued at approximately $493,000. Burney Co. boosted its position in OneMain by 35.6% in the 1st quarter. Burney Co. now owns 26,812 shares of the financial services provider’s stock valued at $1,370,000 after buying an additional 7,033 shares during the period. Swedbank AB purchased a new position in OneMain in the first quarter valued at $817,000. B. Riley Wealth Advisors Inc. grew its stake in OneMain by 11.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,421 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 543 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in OneMain by 4.1% during the 1st quarter. Janus Henderson Group PLC now owns 437,365 shares of the financial services provider’s stock worth $22,343,000 after purchasing an additional 17,214 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Micah R. Conrad sold 7,500 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $50.63, for a total value of $379,725.00. Following the completion of the sale, the chief operating officer now owns 119,525 shares of the company’s stock, valued at $6,051,550.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Douglas H. Shulman sold 19,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $51.37, for a total value of $976,030.00. Following the sale, the chief executive officer now directly owns 451,300 shares of the company’s stock, valued at approximately $23,183,281. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Micah R. Conrad sold 7,500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $50.63, for a total transaction of $379,725.00. Following the transaction, the chief operating officer now directly owns 119,525 shares of the company’s stock, valued at approximately $6,051,550.75. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.

OneMain Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 10th were given a dividend of $1.04 per share. This is an increase from OneMain’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, May 9th. This represents a $4.16 dividend on an annualized basis and a yield of 8.61%. OneMain’s dividend payout ratio (DPR) is presently 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.