OneMain Holdings, Inc. (NYSE:OMF) to Post Q3 2024 Earnings of $1.19 Per Share, Seaport Res Ptn Forecasts

OneMain Holdings, Inc. (NYSE:OMF) – Equities researchers at Seaport Res Ptn dropped their Q3 2024 EPS estimates for shares of OneMain in a research note issued on Monday, August 12th. Seaport Res Ptn analyst W. Ryan now forecasts that the financial services provider will post earnings per share of $1.19 for the quarter, down from their prior estimate of $1.48. The consensus estimate for OneMain’s current full-year earnings is $5.37 per share. Seaport Res Ptn also issued estimates for OneMain’s Q4 2024 earnings at $1.33 EPS, FY2024 earnings at $5.00 EPS and FY2025 earnings at $6.90 EPS.

OneMain (NYSE:OMF) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.12. OneMain had a net margin of 12.33% and a return on equity of 20.60%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $918.74 million. During the same period last year, the business posted $1.01 EPS.

A number of other analysts also recently weighed in on OMF. Deutsche Bank Aktiengesellschaft reduced their price target on shares of OneMain from $64.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Wells Fargo & Company lifted their price target on shares of OneMain from $48.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Barclays cut their price target on shares of OneMain from $55.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. JMP Securities lifted their price target on shares of OneMain from $59.00 to $60.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Finally, TD Cowen raised their price objective on shares of OneMain from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.83.

OneMain Price Performance

Shares of OneMain stock opened at $46.14 on Wednesday. OneMain has a fifty-two week low of $35.00 and a fifty-two week high of $54.94. The firm has a fifty day moving average price of $48.76 and a two-hundred day moving average price of $48.69. The company has a market cap of $5.53 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 0.74 and a beta of 1.58.

OneMain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 12th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 9.02%. The ex-dividend date is Monday, August 12th. OneMain’s payout ratio is 81.09%.

Insider Buying and Selling

In other OneMain news, SVP Michael A. Hedlund sold 3,000 shares of OneMain stock in a transaction that occurred on 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 $1,353,870.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OMF. Long Focus Capital Management LLC lifted its position in shares of OneMain by 3.6% in the second quarter. Long Focus Capital Management LLC now owns 285,000 shares of the financial services provider’s stock worth $13,820,000 after purchasing an additional 10,000 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of OneMain by 19.5% in the second quarter. AQR Capital Management LLC now owns 678,499 shares of the financial services provider’s stock worth $32,900,000 after purchasing an additional 110,862 shares in the last quarter. AXA S.A. acquired a new position in OneMain during the second quarter worth $615,000. Abich Financial Wealth Management LLC increased its holdings in OneMain by 27.4% during the second quarter. Abich Financial Wealth Management LLC now owns 1,227 shares of the financial services provider’s stock worth $59,000 after buying an additional 264 shares during the last quarter. Finally, Caxton Associates LP increased its holdings in OneMain by 245.1% during the second quarter. Caxton Associates LP now owns 16,070 shares of the financial services provider’s stock worth $779,000 after buying an additional 11,413 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

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.