Raymond James Financial Inc. Invests $886,000 in Onity Group (NYSE:ONIT)

Raymond James Financial Inc. bought a new stake in Onity Group (NYSE:ONIT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,857 shares of the company’s stock, valued at approximately $886,000. Raymond James Financial Inc. owned about 0.37% of Onity Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ONIT. New York State Common Retirement Fund bought a new position in Onity Group in the 4th quarter valued at $100,000. SBI Securities Co. Ltd. bought a new position in shares of Onity Group in the fourth quarter valued at about $224,000. Rhumbline Advisers bought a new stake in Onity Group during the 4th quarter worth about $313,000. JPMorgan Chase & Co. grew its holdings in Onity Group by 181.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company’s stock worth $551,000 after acquiring an additional 11,126 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Onity Group in the fourth quarter worth about $583,000. 70.16% of the stock is owned by institutional investors and hedge funds.

Onity Group Stock Performance

Onity Group stock opened at $27.37 on Friday. The company has a market cap of $215.47 million, a PE ratio of 6.69 and a beta of 1.58. The company has a current ratio of 26.46, a quick ratio of 26.46 and a debt-to-equity ratio of 20.28. Onity Group has a 1 year low of $22.40 and a 1 year high of $41.27. The company’s 50-day moving average is $33.26 and its two-hundred day moving average is $31.78.

Onity Group (NYSE:ONIT) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.95). Onity Group had a net margin of 3.47% and a return on equity of 20.50%. The business had revenue of $224.80 million during the quarter, compared to analyst estimates of $253.37 million. Equities analysts anticipate that Onity Group will post 10.51 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. B. Riley upgraded shares of Onity Group to a “strong-buy” rating in a research report on Tuesday, January 7th. BTIG Research upgraded Onity Group from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday, December 9th.

About Onity Group

Onity Group Inc, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.