Price T Rowe Associates Inc. MD Buys New Shares in Onity Group (NYSE:ONIT)

Price T Rowe Associates Inc. MD bought a new stake in Onity Group (NYSE:ONIT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,706 shares of the company's stock, valued at approximately $483,000. Price T Rowe Associates Inc. MD owned approximately 0.20% of Onity Group at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Corebridge Financial Inc. acquired a new position in Onity Group during the 4th quarter worth approximately $98,000. New York State Common Retirement Fund acquired a new position in Onity Group during the 4th quarter worth approximately $100,000. Wells Fargo & Company MN acquired a new position in Onity Group during the 4th quarter worth approximately $116,000. MetLife Investment Management LLC bought a new stake in Onity Group during the 4th quarter worth approximately $117,000. Finally, SBI Securities Co. Ltd. bought a new stake in Onity Group during the 4th quarter worth approximately $224,000. 70.16% of the stock is currently owned by institutional investors and hedge funds.

Onity Group Trading Down 0.7%

ONIT traded down $0.28 during trading on Monday, reaching $37.91. 38,911 shares of the company's stock were exchanged, compared to its average volume of 36,322. The firm has a fifty day moving average price of $32.82 and a two-hundred day moving average price of $32.59. 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 one year low of $22.40 and a one year high of $41.27. The stock has a market capitalization of $303.62 million, a PE ratio of 9.27 and a beta of 1.89.

Onity Group (NYSE:ONIT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $1.05. Onity Group had a net margin of 3.47% and a return on equity of 20.50%. The company had revenue of $249.80 million for the quarter, compared to analyst estimates of $244.63 million. As a group, equities research analysts forecast that Onity Group will post 10.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ONIT has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of Onity Group from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. BTIG Research reissued a "buy" rating on shares of Onity Group in a report on Monday, May 5th.

Onity Group Profile

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.