OneMain (NYSE:OMF) Releases Earnings Results, Beats Expectations By $0.47 EPS

OneMain (NYSE:OMF) issued its quarterly earnings results on Tuesday. The financial services provider reported $2.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.47, MarketWatch Earnings reports. OneMain had a return on equity of 37.69% and a net margin of 23.89%. During the same quarter in the prior year, the firm posted $0.80 earnings per share.

Shares of OMF traded down $2.36 during mid-day trading on Thursday, hitting $58.65. 31,285 shares of the company’s stock traded hands, compared to its average volume of 728,295. OneMain has a 1 year low of $24.45 and a 1 year high of $61.90. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 7.40 and a beta of 2.07. The business has a 50-day simple moving average of $58.48.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 13th. Stockholders of record on Thursday, May 6th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, May 5th. This is a boost from OneMain’s previous quarterly dividend of $0.45. This represents a $2.80 annualized dividend and a dividend yield of 4.77%. OneMain’s payout ratio is 46.13%.

OMF has been the subject of a number of research analyst reports. BMO Capital Markets reiterated a “market perform” rating and set a $60.00 price target on shares of OneMain in a research report on Monday, April 26th. Zacks Investment Research upgraded OneMain from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Tuesday, May 4th. Piper Sandler boosted their target price on OneMain from $73.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 2nd. JPMorgan Chase & Co. dropped their target price on OneMain from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, April 15th. They noted that the move was a valuation call. Finally, Credit Suisse Group boosted their target price on OneMain from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 28th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $57.50.

In related news, major shareholder Apollo Management Holdings Gp, sold 9,200,000 shares of the company’s stock in a transaction on Tuesday, May 4th. The stock was sold at an average price of $51.76, for a total value of $476,192,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider George G. Hicks sold 1,901,638 shares of the company’s stock in a transaction on Tuesday, May 4th. The stock was sold at an average price of $51.76, for a total value of $98,428,782.88. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

OneMain Company Profile

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses. The company originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or are unsecured. The company also offers credit insurance products comprising life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.

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Earnings History for OneMain (NYSE:OMF)

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