Northland Capmk Weighs in on OneMain Holdings, Inc.'s Q2 2024 Earnings (NYSE:OMF)

OneMain Holdings, Inc. (NYSE:OMF - Free Report) - Investment analysts at Northland Capmk lowered their Q2 2024 earnings per share estimates for OneMain in a note issued to investors on Wednesday, May 1st. Northland Capmk analyst M. Grondahl now anticipates that the financial services provider will post earnings per share of $1.17 for the quarter, down from their prior forecast of $1.26. The consensus estimate for OneMain's current full-year earnings is $5.67 per share.

OneMain (NYSE:OMF - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.07. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $907.93 million. OneMain had a return on equity of 20.94% and a net margin of 13.29%. During the same quarter last year, the business posted $1.46 EPS.

Other analysts have also issued research reports about the stock. Stephens cut their price objective on shares of OneMain from $61.00 to $57.00 and set an "overweight" rating on the stock in a research report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft started coverage on OneMain in a report on Wednesday, January 10th. They issued a "buy" rating and a $68.00 price objective for the company. Citigroup reduced their price target on OneMain from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, February 8th. JMP Securities boosted their price target on OneMain from $57.00 to $62.00 and gave the stock a "market outperform" rating in a research report on Wednesday. Finally, StockNews.com raised OneMain from a "hold" rating to a "buy" rating in a report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $54.23.

OneMain Stock Performance

OneMain stock traded up $0.05 during midday trading on Thursday, reaching $50.81. The stock had a trading volume of 1,477,464 shares, compared to its average volume of 1,058,417. The stock has a market capitalization of $6.09 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 0.72 and a beta of 1.63. The firm's fifty day simple moving average is $48.95 and its 200-day simple moving average is $45.62. OneMain has a 1-year low of $33.67 and a 1-year high of $53.65.

Institutional Investors Weigh In On OneMain

A number of hedge funds and other institutional investors have recently modified their holdings of OMF. Norges Bank bought a new position in OneMain during the fourth quarter worth about $62,732,000. Brave Warrior Advisors LLC increased its holdings in shares of OneMain by 21.1% during the fourth quarter. Brave Warrior Advisors LLC now owns 6,416,800 shares of the financial services provider's stock worth $315,707,000 after purchasing an additional 1,118,166 shares during the period. Argent Capital Management LLC raised its position in shares of OneMain by 608.1% in the first quarter. Argent Capital Management LLC now owns 503,613 shares of the financial services provider's stock valued at $25,730,000 after buying an additional 432,492 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of OneMain by 36.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,366,621 shares of the financial services provider's stock valued at $67,238,000 after buying an additional 367,823 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of OneMain in the third quarter valued at approximately $12,613,000. Institutional investors and hedge funds own 85.82% of the company's stock.

OneMain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, May 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.19%. This is a positive change from OneMain's previous quarterly dividend of $1.00. OneMain's dividend payout ratio (DPR) is 77.97%.

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.