Raymond James Financial Inc. Acquires New Shares in Onity Group (NYSE:ONIT)

Raymond James Financial Inc. bought a new stake in Onity Group (NYSE:ONIT - Free Report) during 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 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Corebridge Financial Inc. acquired a new stake in Onity Group in the fourth quarter valued at approximately $98,000. New York State Common Retirement Fund acquired a new stake in shares of Onity Group during the 4th quarter valued at $100,000. Wells Fargo & Company MN acquired a new stake in shares of Onity Group during the 4th quarter valued at $116,000. SBI Securities Co. Ltd. bought a new stake in Onity Group during the 4th quarter worth $224,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Onity Group in the 4th quarter worth about $226,000. Institutional investors and hedge funds own 70.16% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley raised Onity Group to a "strong-buy" rating in a research note on Tuesday, January 7th.

Onity Group Price Performance

Shares of NYSE:ONIT opened at $37.36 on Tuesday. The firm has a market cap of $299.18 million, a PE ratio of 9.13 and a beta of 1.89. Onity Group has a 52 week low of $22.40 and a 52 week high of $41.27. The firm's fifty day moving average is $31.33 and its 200-day moving average is $32.03. The company has a debt-to-equity ratio of 20.28, a quick ratio of 26.46 and a current ratio of 26.46.

Onity Group (NYSE:ONIT - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $249.80 million for the quarter, compared to analyst estimates of $244.63 million. Sell-side analysts predict that Onity Group will post 10.51 earnings per share for the current year.

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.

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