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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 Holdings, Inc. (NYSE: OMF) has initiated a secondary public offering of 8,000,000 shares of its common stock, representing approximately 5.9% of its outstanding shares. The offering is being made by affiliates of Apollo Global Management and Värde Partners. OneMain will not receive any proceeds from the sale, which is facilitated by underwriters Barclays, Citi, and RBC Capital Markets. Additionally, the underwriters have a 30-day option to purchase up to 1,200,000 additional shares. This offering follows regulatory filings with the SEC.
OneMain Holdings reported a significant increase in Q1 2021 financial results, with a pretax income of $546 million and net income of $413 million, up from $43 million and $32 million in the prior year. Earnings per diluted share surged to $3.06 from $0.24. The company raised its quarterly dividend by 56% to $0.70 and initiated a $150 million share repurchase program. Additionally, OneMain announced its acquisition of Trim, enhancing its digital offerings for financial wellness.
OneMain Financial has announced an agreement to acquire Trim, a fintech focused on financial wellness, aimed at enhancing its digital services for over 2.2 million customers. This acquisition will support customers in managing their finances better, offering features like bill negotiation and automated savings. Trim has helped analyze around 1 billion transactions and currently serves over 600,000 users, providing an average savings of $90 annually per negotiation. The transaction is pending standard closing conditions, with details not yet disclosed.
OneMain Holdings, Inc. (NYSE: OMF) will announce its first quarter 2021 results on April 26, after market close. The earnings release will be accessible via OneMain's investor relations website. A conference call to discuss results and outlook is scheduled for April 27, at 8:00 am ET. Public access to the call will be provided via phone and webcast, with replay options available post-event. OneMain Financial has a century-long history offering loans through 1,500 locations across 44 states, focusing on responsible lending.
OneMain Financial has appointed Phyllis Caldwell to its Board of Directors. Caldwell, founder of Wroxton Civic Ventures, brings extensive experience in lending, government, and community development. She previously led foreclosure prevention initiatives at the U.S. Department of Treasury and held executive roles at Bank of America. Her focus on financial inclusion aligns with OneMain's mission to enhance the financial lives of Americans with nonprime credit. This strategic appointment aims to strengthen the company's board with leadership experience in financial inclusion and community engagement.
OneMain Financial has announced a $10,000 donation to the Operation UNITE Flood Relief Fund to assist communities in eastern Kentucky affected by flooding. This effort aims to provide essential supplies such as bottled water and cleaning materials to residents in emergency-declared areas. OneMain's leadership expressed their commitment to community support during this crisis. The company has also previously donated $40,000 in grants to tackle opioid addiction. With nearly 1,500 locations in 44 states, OneMain remains dedicated to responsible lending and community engagement.
OneMain Financial has initiated a Borrower’s Assistance program for Texas customers impacted by recent winter storms, effective from Feb. 20 to Mar. 7. This program allows eligible borrowers to defer loan payments and avoids additional costs like late fees. Additionally, OneMain is donating $50,000 to Texas food banks to support those facing food insecurity due to the storms. With 124 branches in Texas, OneMain services nearly 200,000 customer accounts, totaling $1.6 billion in outstanding receivables.
OneMain Holdings, Inc. (NYSE: OMF) has priced a secondary public offering of 8 million shares at $53.00 each, up from a previous 7 million share target. The offering, representing 6% of outstanding shares, is entirely from selling stockholders and will close on February 16, 2021, pending customary conditions. The underwriters have a 30-day option for 1.2 million additional shares. Barclays, Citi, and RBC Capital Markets are the joint book-running managers. The company will not receive any proceeds from this offering.
OneMain Holdings, Inc. (NYSE: OMF) has announced a secondary public offering of 7 million shares by certain stockholders managed by Apollo Global Management and Värde Partners. This offering represents approximately 5.2% of the company's outstanding shares as of February 1, 2021. The company will not receive any proceeds from this sale. Underwriters, including Barclays and Citi, have a 30-day option to purchase an additional 1.05 million shares. The offering is being conducted under a prospectus filed with the SEC, and interested investors can access it for more detailed information.
OneMain Holdings reported a pretax income of $476 million and net income of $359 million for Q4 2020, up from $344 million and $261 million in Q4 2019. Earnings per diluted share reached $2.67, compared to $1.91 year-over-year. For the full year, net income was $730 million, down from $855 million in 2019. The company declared a dividend of $3.95 per share. Despite macroeconomic uncertainties, OneMain is confident in its strategic initiatives. Adjusted net income for the Consumer and Insurance segment was $373 million in Q4 2020, up from $268 million in Q4 2019.
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