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OneMain Holdings, Inc. (NYSE: OMF) is a leading financial services company specializing in nonprime consumer finance. With roots dating back to 1912, OneMain has been helping individuals achieve their financial goals for over a century. The company provides personalized loan solutions through its extensive network of branches across 44 states and online platforms, offering fixed rates, fixed payments, and clear terms. OneMain's core business includes personal loans, credit and noncredit insurance products, loan servicing, and strategic acquisitions.
OneMain's business model is designed to support nonprime consumers by providing responsible access to credit. The company prides itself on its disciplined growth strategies and resilient business model, which deliver strong returns across economic cycles. OneMain's approach involves leveraging digital capabilities, expanding product offerings, and enhancing customer experiences both online and in its 1,400 physical locations.
The company's recent achievements highlight its commitment to growth and customer service. In December 2023, OneMain hosted its Investor Day where senior executives discussed the company's strength, strategic expansions, and market opportunities. This includes significant advancements in digital services and new product channels. Moreover, OneMain reported substantial financial results for the fourth quarter of 2023, with a pretax income of $220 million and a net income of $165 million.
OneMain's financial condition remains robust, supported by strong capital generation and liquidity resources. As of March 31, 2024, the company had $831 million in cash and cash equivalents, with significant undrawn capacity under its credit facilities. The company's commitment to shareholder value is reflected in its regular dividend payments and stock repurchase programs.
Key personnel changes have strengthened OneMain's leadership team. Jenny Osterhout has been appointed as CFO, and Micah Conrad as COO, effective March 31, 2024. Their extensive experience and strategic vision are expected to drive further growth and operational efficiency.
Through strategic acquisitions, OneMain continues to diversify its offerings. The recent acquisition of Foursight Capital LLC, an automobile finance company, marks OneMain's entry into the auto lending market, expanding its product portfolio and strengthening its market position.
For more information about OneMain Holdings, Inc., please visit their official website at www.OneMainFinancial.com.
OneMain Financial has announced the election of Philip L. Bronner to its Board of Directors, effective November 8. Bronner, co-founder of Ardent Venture Partners, brings significant expertise in technology and innovation, vital for OneMain's mission to serve nonprime customers. Concurrently, directors Matthew R. Michelini and Lisa Green Hall have resigned from the board on the same date. CEO Doug Shulman expressed gratitude for their service, recognizing the board's transformation amidst ongoing challenges in the financial sector.
OneMain Holdings, Inc. (NYSE: OMF) has priced an underwritten public offering of 10,010,208 shares, representing approximately 7.6% of its outstanding stock as of October 15, 2021. The shares are being sold by an entity managed by Apollo Global Management, with no proceeds going to the Company. Closing is expected on October 28, 2021. Concurrently, OneMain will buy back 1,870,000 shares at the offering price, funded by existing cash. Barclays is the sole underwriter for this offering.
OneMain Holdings, Inc. (NYSE: OMF) has announced a proposed secondary public offering of 10,010,208 shares of its common stock, representing 7.6% of outstanding shares. The offering is managed by affiliates of Apollo Global Management, with the company not selling any shares or receiving proceeds. Concurrently, OneMain plans to repurchase up to $100 million worth of shares from the offering's proceeds, subject to market conditions. The buyback will utilize existing cash and is separate from the current repurchase program, which still has $78 million available.
OneMain Holdings reported strong financial results for Q3 2021, with diluted EPS of $2.17, up from $1.86 YoY, and net income of $288 million, a significant increase from $250 million last year. The company declared a quarterly dividend of $0.70 per share, maintaining consistent shareholder returns. Originations reached $3.9 billion, a 34% increase from Q3 2020. However, the 30-89 day delinquency ratio rose to 2.20%, indicating potential credit quality concerns. Overall, OneMain's strategic initiatives and favorable economic conditions contribute to a positive growth trajectory.
OneMain Holdings, Inc. (NYSE: OMF), the largest near-prime installment lender in the U.S., will release its third quarter 2021 results on October 20, 2021. A conference call to discuss the results and future outlook is scheduled for October 21, 2021, at 8:30 a.m. Eastern. Investors can access the earnings release and call through the company's investor relations website.
OneMain operates approximately 1,400 locations across 44 states, focusing on enhancing the financial well-being of hardworking Americans.
OneMain Holdings, Inc. (NYSE: OMF), the largest near-prime installment lender in the U.S., announced that Doug Shulman, Chairman and CEO, and Micah Conrad, CFO, will present at the Barclays Global Financial Services Conference on September 14 at 9:00 a.m. Eastern time. This event offers an opportunity for the public to hear from company leaders regarding OneMain's mission to enhance the financial well-being of hardworking Americans.
A live audio webcast will be accessible through the Investor Relations section of OneMain’s website.
OneMain Financial has launched a Borrower's Assistance program for customers in Louisiana and Mississippi affected by Hurricane Ida, effective September 1 until September 30. The program allows eligible customers to defer loan payments without incurring additional costs. OneMain will also donate $50,000 to Feeding America's Hurricane Ida Fund to support local relief efforts. The company operates 27 branches in Louisiana and 26 in Mississippi, servicing approximately 44,000 and 39,000 customer accounts, respectively, with outstanding receivables of $362.8 million and $301.2 million.
OneMain Financial has launched Money LaunchPad, a personal financial education program for high school students in California, Texas, Ohio, North Carolina, and Pennsylvania. Developed in collaboration with EVERFI, the program covers essential topics like budgeting, credit management, and financial literacy. CEO Doug Shulman emphasizes the company's commitment to improving financial well-being. The initiative includes employee volunteer opportunities and offers real-time performance tracking for teachers. As states increase financial literacy requirements, this program aims to equip students with necessary financial skills.
OneMain Holdings, Inc. (NYSE: OMF) has priced its underwritten public offering of 7.0 million shares, up from 6.0 million, managed by Apollo Global Management. This offering, representing 5.3% of the company’s outstanding stock, will close on August 16, 2021. OneMain will not sell any shares or receive proceeds from the offering. Barclays acts as the sole underwriter, with a 30-day option for an additional 1.05 million shares. Investors can find full details in the filed prospectus with the SEC.
OneMain Holdings, Inc. (NYSE: OMF) has initiated a proposed secondary public offering of 6,000,000 shares, representing approximately 4.5% of its outstanding common stock. Managed by Apollo Global Management, the company will not sell any shares or receive proceeds from the offering. Barclays serves as the sole underwriter and has a 30-day option for an additional 900,000 shares. Investors are encouraged to access the prospectus supplement for detailed information regarding the offering, which is subject to market conditions. The offering does not represent a solicitation of an offer to buy securities.
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