Nuveen Asset Management LLC Makes New Investment in Onity Group (NYSE:ONIT)

Nuveen Asset Management LLC purchased a new position in shares of Onity Group (NYSE:ONIT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,717 shares of the company's stock, valued at approximately $421,000. Nuveen Asset Management LLC owned about 0.17% of Onity Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Corebridge Financial Inc. acquired a new stake in shares of Onity Group during the fourth quarter worth $98,000. New York State Common Retirement Fund bought a new position in shares of Onity Group during the fourth quarter valued at approximately $100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Onity Group during the 4th quarter worth approximately $115,000. Wells Fargo & Company MN bought a new stake in shares of Onity Group in the 4th quarter worth approximately $116,000. Finally, MetLife Investment Management LLC acquired a new position in Onity Group during the 4th quarter valued at approximately $117,000. 70.16% of the stock is currently owned by institutional investors and hedge funds.

Onity Group Price Performance

ONIT stock traded down $0.03 during trading on Monday, hitting $37.25. The company had a trading volume of 30,645 shares, compared to its average volume of 36,585. The business has a 50 day moving average of $34.37 and a 200 day moving average of $33.26. The firm has a market capitalization of $298.35 million, a price-to-earnings ratio of 9.11 and a beta of 1.66. 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 fifty-two week low of $22.40 and a fifty-two week high of $41.27.

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. The business had revenue of $249.80 million for the quarter, compared to analyst estimates of $244.63 million. Onity Group had a net margin of 3.47% and a return on equity of 20.50%. As a group, research analysts predict that Onity Group will post 10.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price 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 reissued a "buy" rating on shares of Onity Group in a research note 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.