OneMain Holdings, Inc. (NYSE:OMF), a financial service holding company, engages in the consumer finance and insurance businesses. The company originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit insurance products comprising life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans. It operates through a network of approximately 1,400 branch offices in 44 states in the United States, as well as through its website onemainfinancial.com. The company was formerly known as Springleaf Holdings, Inc. and changed its name to OneMain Holdings, Inc. in November 2015. OneMain Holdings, Inc. was founded in 1920 and is based in Evansville, Indiana.
Overview:
- Market Cap: 5.607B
- PE Ratio: 4.89
- EPS: 9.16
- Dividend Yield: 8.00%
OneMain Financial provides personal installment loans to millions of Americans, many of whom have non-prime credit scores. This is a hardy business which expects itself to be profitable even if the U.S. slips into recession.
OneMain provides shareholder rewards in two ways:
- Higher buybacks: In late 2021, the company upped its buyback authorization from $200 million to $300 million.
- Bigger dividends: In February 2022, the company announced a whopping 35% hike in its quarterly payout, to 95 cents per share. It was 25 cents just three years ago.
Therefore, OMF is one of the top mid-cap dividend stock in financial services sector.