Q2 2024 EPS Estimates for OneMain Holdings, Inc. (NYSE:OMF) Reduced by Northland Capmk

OneMain Holdings, Inc. (NYSE:OMF) – Equities research analysts at Northland Capmk cut their Q2 2024 earnings 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 of $1.17 per share 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.

A number of other research analysts also recently commented on the company. Barclays dropped their price objective on OneMain from $57.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, February 8th. StockNews.com raised OneMain from a “hold” rating to a “buy” rating in a report on Wednesday, February 14th. Royal Bank of Canada raised their price objective on shares of OneMain from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of OneMain in a research report on Wednesday, January 10th. They set a “buy” rating and a $68.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on shares of OneMain from $43.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, January 4th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.31.

OneMain Price Performance

OneMain stock opened at $50.77 on Thursday. The stock has a market cap of $6.09 billion, a PE ratio of 9.90, a P/E/G ratio of 0.72 and a beta of 1.63. The stock’s fifty day moving average is $48.87 and its two-hundred day moving average is $45.58. OneMain has a 1-year low of $33.67 and a 1-year high of $53.65.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.07. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $907.93 million. OneMain had a net margin of 13.29% and a return on equity of 20.94%. During the same period last year, the business earned $1.46 EPS.

Hedge Funds Weigh In On OneMain

Several institutional investors have recently added to or reduced their stakes in the stock. Argent Capital Management LLC lifted its position in OneMain by 608.1% during the 1st quarter. Argent Capital Management LLC now owns 503,613 shares of the financial services provider’s stock worth $25,730,000 after acquiring an additional 432,492 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of OneMain by 6.5% in the first quarter. Commonwealth Equity Services LLC now owns 10,234 shares of the financial services provider’s stock valued at $523,000 after purchasing an additional 622 shares during the period. UMB Bank n.a. raised its stake in shares of OneMain by 557.8% during the first quarter. UMB Bank n.a. now owns 1,342 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,138 shares during the last quarter. SlateStone Wealth LLC acquired a new stake in shares of OneMain during the first quarter worth $216,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in OneMain by 4.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 105,133 shares of the financial services provider’s stock valued at $5,371,000 after buying an additional 4,700 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Increases Dividend

The firm 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. This is an increase from OneMain’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, May 9th. This represents a $4.16 annualized dividend and a dividend yield of 8.19%. OneMain’s dividend payout ratio is 77.97%.

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.