Q3 2024 Earnings Estimate for OneMain Holdings, Inc. (NYSE:OMF) Issued By Seaport Res Ptn

OneMain Holdings, Inc. (NYSE:OMF) – Investment analysts at Seaport Res Ptn dropped their Q3 2024 earnings estimates for shares of OneMain in a research note issued to investors on Wednesday, September 25th. Seaport Res Ptn analyst W. Ryan now anticipates that the financial services provider will post earnings per share of $1.08 for the quarter, down from their previous forecast of $1.19. The consensus estimate for OneMain’s current full-year earnings is $5.11 per share. Seaport Res Ptn also issued estimates for OneMain’s FY2024 earnings at $4.60 EPS and FY2025 earnings at $6.50 EPS.

Several other analysts have also recently issued reports on the stock. Northland Securities upped their price objective on shares of OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on OneMain from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Barclays lowered their price objective on OneMain from $55.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $60.00 target price on shares of OneMain in a research note on Tuesday, September 17th. Finally, JMP Securities reissued a “market outperform” rating and set a $60.00 price target on shares of OneMain in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, OneMain currently has a consensus rating of “Moderate Buy” and an average target price of $55.25.

OneMain Price Performance

Shares of NYSE:OMF opened at $46.82 on Friday. OneMain has a 1 year low of $35.00 and a 1 year high of $54.94. The firm has a market capitalization of $5.61 billion, a PE ratio of 9.13, a P/E/G ratio of 0.81 and a beta of 1.56. The business’s 50 day moving average price is $47.70 and its 200-day moving average price is $48.71.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.12. OneMain had a net margin of 12.33% and a return on equity of 20.63%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $918.74 million. During the same period in the prior year, the firm posted $1.01 earnings per share.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 12th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 8.89%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s payout ratio is 81.09%.

Insiders Place Their Bets

In other OneMain news, SVP Michael A. Hedlund sold 2,400 shares of OneMain stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $50.00, for a total value of $120,000.00. Following the completion of the transaction, the senior vice president now directly owns 20,947 shares of the company’s stock, valued at approximately $1,047,350. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other OneMain news, SVP Michael A. Hedlund sold 2,400 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $50.00, for a total value of $120,000.00. Following the completion of the transaction, the senior vice president now owns 20,947 shares in the company, valued at $1,047,350. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Micah R. Conrad sold 1,614 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $50.00, for a total value of $80,700.00. Following the completion of the sale, the chief operating officer now owns 110,411 shares in the company, valued at $5,520,550. The disclosure for this sale can be found here. Insiders have sold 32,300 shares of company stock worth $1,534,275 over the last ninety days. Corporate insiders own 0.45% of the company’s stock.

Institutional Trading of OneMain

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in OneMain by 6.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 200 shares in the last quarter. Blue Trust Inc. raised its stake in OneMain by 43.4% during the 2nd quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 225 shares in the last quarter. US Bancorp DE lifted its position in OneMain by 1.8% in the first quarter. US Bancorp DE now owns 14,040 shares of the financial services provider’s stock valued at $717,000 after acquiring an additional 245 shares during the last quarter. Abich Financial Wealth Management LLC boosted its position in shares of OneMain by 27.4% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,227 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 264 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in OneMain by 13.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider’s stock worth $110,000 after buying an additional 271 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

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.