OneMain Holdings, Inc. (NYSE:OMF) Announces $1.04 Quarterly Dividend

OneMain Holdings, Inc. (NYSE:OMF) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Tuesday, November 12th will be given a dividend of 1.04 per share by the financial services provider on Monday, November 18th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.37%. The ex-dividend date is Tuesday, November 12th.

OneMain has raised its dividend by an average of 40.6% annually over the last three years. OneMain has a dividend payout ratio of 60.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect OneMain to earn $7.16 per share next year, which means the company should continue to be able to cover its $4.16 annual dividend with an expected future payout ratio of 58.1%.

OneMain Trading Down 4.3 %

Shares of OneMain stock opened at $49.70 on Friday. The company has a market capitalization of $5.95 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 0.98 and a beta of 1.56. The stock has a fifty day simple moving average of $47.08 and a 200 day simple moving average of $48.32. OneMain has a 12-month low of $35.53 and a 12-month high of $54.94.

OneMain (NYSE:OMF) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.12. OneMain had a net margin of 11.27% and a return on equity of 19.31%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $918.74 million. During the same quarter in the prior year, the business posted $1.01 EPS. On average, analysts predict that OneMain will post 4.91 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on OMF. JPMorgan Chase & Co. dropped their price target on OneMain from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lowered their target price on OneMain from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Barclays lowered shares of OneMain from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $52.00 to $46.00 in a research report on Tuesday, October 8th. JMP Securities lifted their price objective on shares of OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research report on Thursday. Finally, Northland Securities raised their price target on shares of OneMain from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, OneMain has an average rating of “Moderate Buy” and an average price target of $55.08.

Insider Transactions at OneMain

In related news, CEO Douglas H. Shulman sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $46.30, for a total transaction of $694,500.00. Following the sale, the chief executive officer now owns 422,474 shares of the company’s stock, valued at approximately $19,560,546.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Douglas H. Shulman sold 15,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $46.30, for a total transaction of $694,500.00. Following the completion of the transaction, the chief executive officer now directly owns 422,474 shares in the company, valued at $19,560,546.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael A. Hedlund sold 2,400 shares of OneMain stock in a transaction on Monday, September 16th. The shares were sold at an average price of $46.00, for a total value of $110,400.00. Following the sale, the senior vice president now directly owns 25,747 shares of the company’s stock, valued at $1,184,362. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,300 shares of company stock valued at $1,534,275. 0.45% of the stock is currently owned by corporate insiders.

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.