Ameriprise Financial Inc. Invests $209,000 in Onity Group (NYSE:ONIT)

Ameriprise Financial Inc. bought a new position in shares of Onity Group (NYSE:ONIT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,796 shares of the company's stock, valued at approximately $209,000. Ameriprise Financial Inc. owned approximately 0.09% of Onity Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in shares of Onity Group in the fourth quarter valued at approximately $1,377,000. Rhumbline Advisers purchased a new stake in Onity Group in the 4th quarter valued at approximately $313,000. New York State Common Retirement Fund acquired a new stake in Onity Group during the 4th quarter valued at $100,000. Bank of New York Mellon Corp purchased a new position in Onity Group during the fourth quarter worth $851,000. Finally, SBI Securities Co. Ltd. purchased a new position in Onity Group during the fourth quarter worth $224,000. Institutional investors and hedge funds own 70.16% of the company's stock.

Onity Group Trading Up 1.5%

ONIT stock traded up $0.57 during midday trading on Tuesday, hitting $37.84. The stock had a trading volume of 48,117 shares, compared to its average volume of 36,737. The company's 50-day moving average price is $34.47 and its 200 day moving average price is $33.30. The company has a debt-to-equity ratio of 20.28, a current ratio of 26.46 and a quick ratio of 26.46. The firm has a market cap of $303.04 million, a PE ratio of 9.25 and a beta of 1.66. Onity Group has a 12-month low of $22.40 and a 12-month high of $41.27.

Onity Group (NYSE:ONIT - Get Free Report) last announced 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 return on equity of 20.50% and a net margin of 3.47%. The business had revenue of $249.80 million during the quarter, compared to the consensus estimate of $244.63 million. On average, equities research analysts predict that Onity Group will post 10.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ONIT. Keefe, Bruyette & Woods increased their price objective on Onity Group from $45.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. BTIG Research restated a "buy" rating on shares of Onity Group in a report on Monday, May 5th.

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.