OneMain Holdings, Inc. to Issue Quarterly Dividend of $1.05 (NYSE:OMF)

OneMain Holdings, Inc. (NYSE:OMF) declared a quarterly dividend on Wednesday, July 29th. Investors of record on Monday, August 10th will be paid a dividend of 1.05 per share by the financial services provider on Friday, August 14th. This represents a c) annualized dividend and a yield of 6.7%. The ex-dividend date is Monday, August 10th.

OneMain has decreased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. OneMain has a payout ratio of 52.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect OneMain to earn $8.54 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 49.2%.

OneMain Trading Up 1.3%

OneMain stock traded up $0.83 on Wednesday, reaching $63.07. 1,703,027 shares of the stock were exchanged, compared to its average volume of 1,350,731. The stock has a market cap of $7.29 billion, a PE ratio of 9.38, a PEG ratio of 0.47 and a beta of 1.22. OneMain has a twelve month low of $45.78 and a twelve month high of $71.93. The firm has a fifty day moving average price of $57.78 and a two-hundred day moving average price of $57.77.

OneMain (NYSE:OMF) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.05. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.28 billion. OneMain had a net margin of 14.38% and a return on equity of 24.24%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 earnings per share. Equities analysts anticipate that OneMain will post 7.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $62.00, for a total value of $310,000.00. Following the sale, the chief operating officer owned 96,250 shares of the company’s stock, valued at $5,967,500. The trade was a 4.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 1,848 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $62.00, for a total transaction of $114,576.00. Following the completion of the transaction, the senior vice president owned 13,127 shares of the company’s stock, valued at approximately $813,874. This represents a 12.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its stake in OneMain by 24.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 259,803 shares of the financial services provider’s stock worth $17,945,000 after purchasing an additional 50,521 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of OneMain in the fourth quarter valued at $5,310,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of OneMain by 39.0% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 126,492 shares of the financial services provider’s stock valued at $8,553,000 after buying an additional 35,466 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new position in OneMain during the 1st quarter worth about $1,638,000. Finally, Illinois Municipal Retirement Fund lifted its position in OneMain by 37.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 104,527 shares of the financial services provider’s stock worth $5,591,000 after buying an additional 28,536 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Company Profile

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.