Q3 2024 EPS Estimates for OneMain Holdings, Inc. Cut by Analyst (NYSE:OMF)

OneMain Holdings, Inc. (NYSE:OMF) – Equities researchers at Northland Capmk dropped their Q3 2024 EPS estimates for OneMain in a note issued to investors on Wednesday, September 18th. Northland Capmk analyst M. Grondahl now forecasts that the financial services provider will post earnings per share of $1.15 for the quarter, down from their previous estimate of $1.38. The consensus estimate for OneMain’s current full-year earnings is $5.20 per share. Northland Capmk also issued estimates for OneMain’s Q4 2024 earnings at $0.95 EPS and FY2024 earnings at $4.57 EPS.

Other equities research analysts have also issued reports about the company. BTIG Research started coverage on OneMain in a report on Friday, June 7th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. lifted their price target on OneMain from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 price objective on shares of OneMain in a research report on Tuesday, September 17th. Northland Securities raised their price objective on OneMain from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Finally, Barclays lowered their price target on shares of OneMain from $55.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, OneMain currently has an average rating of “Moderate Buy” and a consensus target price of $55.25.

OneMain Price Performance

Shares of NYSE:OMF opened at $49.09 on Monday. The stock has a market capitalization of $5.88 billion, a P/E ratio of 9.57, a P/E/G ratio of 0.72 and a beta of 1.56. The business has a 50-day moving average of $48.23 and a two-hundred day moving average of $48.78. OneMain has a fifty-two week low of $35.00 and a fifty-two week high of $54.94.

OneMain (NYSE:OMF) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.12. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.63%. During the same quarter in the previous year, the business earned $1.01 EPS.

OneMain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 12th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 8.47%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s payout ratio is 81.09%.

Insider Activity

In other news, COO Micah R. Conrad sold 1,614 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was 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 directly owns 110,411 shares in the company, valued at $5,520,550. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Michael A. Hedlund sold 2,400 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $46.00, for a total transaction of $110,400.00. Following the completion of the sale, the senior vice president now owns 25,747 shares in the company, valued at $1,184,362. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Micah R. Conrad sold 1,614 shares of OneMain stock in a transaction dated Thursday, August 29th. The stock was 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 of the company’s stock, valued at $5,520,550. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,300 shares of company stock worth $1,534,275. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On OneMain

Several large investors have recently bought and sold shares of OMF. EdgeRock Capital LLC acquired a new stake in shares of OneMain in the 2nd quarter valued at approximately $31,000. International Assets Investment Management LLC bought a new position in shares of OneMain during the second quarter worth $34,000. Blue Trust Inc. grew its holdings in shares of OneMain by 43.4% in the 2nd quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock valued at $38,000 after buying an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in shares of OneMain in the 4th quarter valued at $47,000. Finally, Abich Financial Wealth Management LLC raised its stake in OneMain by 46.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 963 shares of the financial services provider’s stock worth $49,000 after buying an additional 304 shares during the period. 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.