OneMain (NYSE:OMF) Issues Earnings Results, Beats Expectations By $0.12 EPS

OneMain (NYSE:OMF) posted its quarterly earnings results on Wednesday. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.12, Briefing.com reports. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. OneMain had a net margin of 13.29% and a return on equity of 20.78%. During the same quarter in the prior year, the business posted $1.01 earnings per share.

OneMain Trading Down 7.1 %

Shares of OMF traded down $3.70 during trading hours on Thursday, hitting $48.56. 1,531,360 shares of the stock traded hands, compared to its average volume of 963,744. The business has a fifty day moving average of $49.28 and a 200-day moving average of $48.75. The firm has a market capitalization of $5.82 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.79 and a beta of 1.58. OneMain has a 1-year low of $35.00 and a 1-year high of $54.94.

OneMain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 12th will be given a dividend of $1.04 per share. The ex-dividend date is Monday, August 12th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.57%. OneMain’s payout ratio is currently 81.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. BTIG Research assumed coverage on OneMain in a report on Friday, June 7th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. boosted their target price on shares of OneMain from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. TD Cowen increased their target price on shares of OneMain from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. JMP Securities boosted their price target on shares of OneMain from $59.00 to $60.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 16th. Finally, BMO Capital Markets raised their price objective on shares of OneMain from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.83.

Insiders Place Their Bets

In other news, SVP Michael A. Hedlund sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $48.10, for a total value of $144,300.00. Following the transaction, the senior vice president now owns 28,147 shares of the company’s stock, valued at approximately $1,353,870.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Michael A. Hedlund sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $48.10, for a total value of $144,300.00. Following the transaction, the senior vice president now directly owns 28,147 shares in the company, valued at approximately $1,353,870.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas H. Shulman sold 19,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $51.37, for a total value of $976,030.00. Following the completion of the sale, the chief executive officer now owns 451,300 shares of the company’s stock, valued at approximately $23,183,281. The disclosure for this sale can be found here. In the last three months, insiders sold 29,500 shares of company stock valued at $1,500,055. 0.45% of the stock is currently owned by insiders.

About OneMain

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.