Seaport Res Ptn Weighs in on OneMain Holdings, Inc.’s FY2023 Earnings (NYSE:OMF)

Posted by Defense World Staff on Sep 25th, 2023

OneMain Holdings, Inc. (NYSE:OMF – Free Report) – Analysts at Seaport Res Ptn lowered their FY2023 EPS estimates for OneMain in a note issued to investors on Friday, September 22nd. Seaport Res Ptn analyst W. Ryan now anticipates that the financial services provider will earn $5.45 per share for the year, down from their prior estimate of $5.50. The consensus estimate for OneMain’s current full-year earnings is $5.58 per share. Seaport Res Ptn also issued estimates for OneMain’s Q4 2023 earnings at $1.48 EPS.

OMF has been the topic of a number of other research reports. Stephens reaffirmed an “overweight” rating and issued a $60.00 target price on shares of OneMain in a research report on Friday, August 18th. Piper Sandler upped their target price on shares of OneMain from $53.00 to $57.00 in a research report on Thursday, July 27th. JMP Securities decreased their target price on shares of OneMain from $55.00 to $53.00 in a research report on Thursday, July 27th. Royal Bank of Canada upped their target price on shares of OneMain from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Finally, Bank of America started coverage on shares of OneMain in a research report on Thursday, June 15th. They set a “buy” rating and a $49.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, OneMain presently has an average rating of “Moderate Buy” and a consensus price target of $50.31.

Read Our Latest Stock Analysis on OneMain

OneMain Price Performance

NYSE OMF opened at $39.66 on Monday. The firm’s 50-day moving average is $42.64 and its two-hundred day moving average is $40.30. OneMain has a 12 month low of $28.77 and a 12 month high of $48.64. The stock has a market capitalization of $4.78 billion, a P/E ratio of 7.44, a PEG ratio of 1.25 and a beta of 1.71.

OneMain (NYSE:OMF – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.23). OneMain had a net margin of 14.60% and a return on equity of 22.23%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $883.84 million. During the same period in the prior year, the company posted $1.87 EPS.

OneMain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Monday, August 7th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, August 4th. This represents a $4.00 annualized dividend and a yield of 10.09%. OneMain’s dividend payout ratio (DPR) is 75.05%.

Institutional Trading of OneMain

Several hedge funds have recently added to or reduced their stakes in OMF. Vanguard Group Inc. increased its stake in OneMain by 0.4% in the first quarter. Vanguard Group Inc. now owns 12,428,932 shares of the financial services provider’s stock valued at $589,256,000 after purchasing an additional 51,537 shares during the last quarter. FMR LLC increased its stake in OneMain by 7.0% in the first quarter. FMR LLC now owns 10,860,979 shares of the financial services provider’s stock valued at $402,725,000 after purchasing an additional 711,440 shares during the last quarter. Capital International Investors increased its stake in OneMain by 77.1% in the first quarter. Capital International Investors now owns 9,842,786 shares of the financial services provider’s stock valued at $466,646,000 after purchasing an additional 4,284,232 shares during the last quarter. BlackRock Inc. increased its stake in OneMain by 2.2% in the second quarter. BlackRock Inc. now owns 5,745,515 shares of the financial services provider’s stock valued at $251,022,000 after purchasing an additional 123,513 shares during the last quarter. Finally, Brave Warrior Advisors LLC increased its stake in OneMain by 1.1% in the second quarter. Brave Warrior Advisors LLC now owns 5,351,633 shares of the financial services provider’s stock valued at $233,813,000 after purchasing an additional 58,041 shares during the last quarter. Institutional investors and hedge funds own 79.70% of the company’s stock.

About OneMain

(Get Free Report)

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 unsecured. The company also offers credit cards and 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.