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

OneMain Holdings, Inc. (NYSE:OMF) declared a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Shareholders of record on Friday, May 10th will be paid a dividend of 1.04 per share by the financial services provider on Friday, May 17th. This represents a $4.16 annualized dividend and a yield of 8.15%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from OneMain’s previous quarterly dividend of $1.00.

OneMain has raised its dividend payment by an average of 40.6% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. OneMain has a dividend payout ratio of 54.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect OneMain to earn $7.71 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 54.0%.

OneMain Stock Performance

Shares of OMF stock traded down $0.40 during mid-day trading on Wednesday, hitting $51.07. 51,583 shares of the stock were exchanged, compared to its average volume of 1,041,578. The stock’s fifty day simple moving average is $49.26 and its two-hundred day simple moving average is $46.01. OneMain has a 12-month low of $35.00 and a 12-month high of $53.65. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 0.71 and a beta of 1.63.

OneMain (NYSE:OMF) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.07. OneMain had a net margin of 13.29% and a return on equity of 20.78%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $907.93 million. During the same period in the prior year, the company earned $1.46 earnings per share. On average, research analysts expect that OneMain will post 5.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OMF. JMP Securities increased their target price on shares of OneMain from $57.00 to $62.00 and gave the company a “market outperform” rating in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on OneMain in a report on Wednesday, January 10th. They set a “buy” rating and a $68.00 price objective for the company. TD Cowen upped their target price on OneMain from $58.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on OneMain from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, StockNews.com raised shares of OneMain from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th. Four 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 has a consensus rating of “Moderate Buy” and a consensus price target of $54.62.

OneMain Company Profile

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.