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

OneMain Holdings, Inc. (NYSE:OMF) announced a quarterly dividend on Wednesday, July 29th. Stockholders 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) dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date is Monday, August 10th.

OneMain has decreased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 5 years. OneMain has a dividend payout ratio of 52.4% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of OMF traded up $0.83 during trading hours on Wednesday, hitting $63.07. 1,703,027 shares of the company were exchanged, compared to its average volume of 1,350,731. The company has a market capitalization of $7.29 billion, a PE ratio of 9.38, a PEG ratio of 0.47 and a beta of 1.22. The firm has a fifty day simple moving average of $57.78 and a 200-day simple moving average of $57.77. OneMain has a one year low of $45.78 and a one year high of $71.93.

OneMain (NYSE:OMF) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.05. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.28 billion. OneMain had a return on equity of 24.24% and a net margin of 14.38%.OneMain’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the business posted $1.45 EPS. Sell-side analysts expect that OneMain will post 7.14 EPS for the current year.

Insider Transactions at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $62.00, for a total value of $310,000.00. Following the transaction, the chief operating officer owned 96,250 shares in the company, valued at $5,967,500. This represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $62.00, for a total transaction of $114,576.00. Following the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On OneMain

Several institutional investors and hedge funds have recently modified their holdings of OMF. GAMMA Investing LLC raised its stake in shares of OneMain by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,273 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 460 shares in the last quarter. Essential Partners LLC boosted its position in OneMain by 49.7% during the first quarter. Essential Partners LLC now owns 1,722 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 572 shares during the period. Ariadne Wealth Management LP boosted its position in OneMain by 7.3% during the first quarter. Ariadne Wealth Management LP now owns 3,763 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 255 shares during the period. Bank of America Corp DE boosted its position in OneMain by 117.8% during the first quarter. Bank of America Corp DE now owns 843,912 shares of the financial services provider’s stock worth $45,141,000 after purchasing an additional 456,470 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in OneMain by 7.7% during the first quarter. Janus Henderson Group PLC now owns 2,729,862 shares of the financial services provider’s stock valued at $146,030,000 after purchasing an additional 195,591 shares during the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

About OneMain

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.