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

OneMain Holdings, Inc. (NYSE:OMF) – Investment analysts at Northland Capmk dropped their Q3 2024 earnings estimates for shares of OneMain in a research note issued to investors on Wednesday, September 18th. Northland Capmk analyst M. Grondahl now anticipates that the financial services provider will post earnings per share of $1.15 for the quarter, down from their previous forecast 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.

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

Several other research analysts have also recently issued reports on OMF. JMP Securities raised their target price on shares of OneMain from $59.00 to $60.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on OneMain from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. BTIG Research initiated coverage on OneMain in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Barclays reduced their price target on OneMain from $55.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Finally, Northland Securities upped 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. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, OneMain currently has a consensus rating of “Moderate Buy” and an average price target of $55.25.

OneMain Trading Down 1.5 %

Shares of NYSE OMF opened at $48.33 on Monday. The company has a 50 day simple moving average of $48.17 and a two-hundred day simple moving average of $48.78. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.72 and a beta of 1.56. OneMain has a 12 month low of $35.00 and a 12 month high of $54.94.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 12th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 8.61%. The ex-dividend date of this dividend was Monday, August 12th. OneMain’s payout ratio is presently 81.09%.

Insiders Place Their Bets

In other news, SVP Michael A. Hedlund sold 2,400 shares of OneMain stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $46.00, for a total value of $110,400.00. Following the sale, the senior vice president now owns 25,747 shares in the company, valued at $1,184,362. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Micah R. Conrad sold 2,500 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $45.75, for a total value of $114,375.00. Following the completion of the transaction, the chief operating officer now directly owns 117,025 shares of the company’s stock, valued at approximately $5,353,893.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael A. Hedlund sold 2,400 shares of OneMain 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 sale, the senior vice president now directly owns 25,747 shares in the company, valued at approximately $1,184,362. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,300 shares of company stock worth $1,534,275. Company insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On OneMain

Several hedge funds and other institutional investors have recently modified their holdings of OMF. Principal Financial Group Inc. raised its holdings in OneMain by 1,125.3% in the 4th quarter. Principal Financial Group Inc. now owns 107,985 shares of the financial services provider’s stock valued at $5,313,000 after acquiring an additional 99,172 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of OneMain by 21.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,405 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 251 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in OneMain during the fourth quarter worth approximately $201,000. Norges Bank acquired a new position in OneMain during the fourth quarter worth $62,732,000. Finally, D.A. Davidson & CO. grew its holdings in OneMain by 14.4% in the 4th quarter. D.A. Davidson & CO. now owns 10,586 shares of the financial services provider’s stock valued at $521,000 after buying an additional 1,335 shares in the last quarter. 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.