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

OneMain Holdings, Inc. (NYSE:OMF) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Monday, August 12th will be paid a dividend of 1.04 per share by the financial services provider on Friday, August 16th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.99%. The ex-dividend date of this dividend is Monday, August 12th.

OneMain has raised its dividend payment by an average of 40.6% annually over the last three years. OneMain has a payout ratio of 55.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect OneMain to earn $7.40 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 56.2%.

OneMain Price Performance

Shares of NYSE:OMF opened at $46.28 on Friday. The company’s fifty day moving average price is $48.93 and its 200-day moving average price is $48.74. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 0.74 and a beta of 1.58. OneMain has a one year low of $35.00 and a one year high of $54.94.

OneMain (NYSE:OMF) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.12. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $918.74 million. OneMain had a net margin of 12.33% and a return on equity of 20.60%. During the same quarter in the prior year, the firm earned $1.01 EPS. As a group, equities research analysts expect that OneMain will post 5.37 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on OMF. JPMorgan Chase & Co. upped their price objective on shares of OneMain from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Northland Securities raised their price target on shares of OneMain from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Barclays dropped their price objective on shares of OneMain from $55.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of OneMain from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, BMO Capital Markets lifted their price objective on shares of OneMain from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.83.

Insider Activity

In other news, SVP Michael A. Hedlund sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $48.10, for a total transaction of $144,300.00. Following the transaction, the senior vice president now owns 28,147 shares in the company, valued at $1,353,870.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Michael A. Hedlund sold 3,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.10, for a total value of $144,300.00. Following the transaction, the senior vice president now owns 28,147 shares in the company, valued at approximately $1,353,870.70. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Micah R. Conrad sold 7,500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $50.63, for a total transaction of $379,725.00. Following the completion of the transaction, the chief operating officer now owns 119,525 shares in the company, valued at approximately $6,051,550.75. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.

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.