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

Raymond James Financial Inc. acquired a new position in Onity Group (NYSE:ONIT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,857 shares of the company's stock, valued at approximately $886,000. Raymond James Financial Inc. owned approximately 0.37% of Onity Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Onity Group by 181.5% in the third quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company's stock valued at $551,000 after buying an additional 11,126 shares during the period. Oaktree Capital Management LP acquired a new position in Onity Group in the fourth quarter valued at about $12,604,000. Charles Schwab Investment Management Inc. acquired a new position in Onity Group in the fourth quarter valued at about $583,000. Empowered Funds LLC acquired a new position in Onity Group in the fourth quarter valued at about $1,377,000. Finally, American Century Companies Inc. acquired a new position in Onity Group in the fourth quarter valued at about $960,000. Institutional investors and hedge funds own 70.16% of the company's stock.

Onity Group Stock Up 0.7%

ONIT stock traded up $0.26 during mid-day trading on Friday, reaching $37.80. The company had a trading volume of 29,164 shares, compared to its average volume of 36,086. Onity Group has a 52 week low of $22.40 and a 52 week high of $41.27. The company has a market capitalization of $302.74 million, a price-to-earnings ratio of 9.24 and a beta of 1.89. The stock has a 50 day simple moving average of $31.82 and a two-hundred day simple moving average of $32.23. The company has a debt-to-equity ratio of 20.28, a current ratio of 26.46 and a quick ratio of 26.46.

Onity Group (NYSE:ONIT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.84 earnings per share (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 company had revenue of $249.80 million during the quarter, compared to analysts' expectations of $244.63 million. As a group, equities analysts predict that Onity Group will post 10.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ONIT has been the subject of several recent analyst reports. BTIG Research restated a "buy" rating on shares of Onity Group in a report on Monday, May 5th. Keefe, Bruyette & Woods increased their price target on Onity Group from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday.

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.