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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 (NYSE: OMF) announced that Doug Shulman, Chairman and CEO, along with CFO Micah Conrad, will present at the Wells Fargo Virtual Financial Services Conference. The event is scheduled for 10:40 a.m. Eastern Time on Thursday, May 20, 2021. Investors can access the live audio webcast via the Investor Relations section of OneMain's website. A replay will be available until August 18, 2021. OneMain Financial has been providing personal loans for over 100 years and operates approximately 1,500 locations across 44 states.
OneMain Holdings, Inc. (NYSE: OMF) has announced a change in location for its 2021 Annual Meeting of Stockholders, which will now be held at its corporate offices in Evansville, Indiana. The meeting is scheduled for Tuesday, May 25, 2021, at 1:00 p.m. local time. OneMain Financial has been providing responsible loans for over 100 years, with around 1,500 locations across 44 states, focusing on personal loan solutions and community involvement.
OneMain Holdings, Inc. (NYSE: OMF) has priced a secondary public offering of 8,000,000 shares at $53.50 per share, totaling approximately 5.9% of its outstanding common stock. The offering is managed by affiliates of Apollo Global Management and Värde Partners. OneMain will not receive proceeds from this sale, expected to close on May 4, 2021. Additionally, underwriters have a 30-day option to purchase up to 1,200,000 additional shares. Investors are advised to review the prospectus for full details.
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.
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