Onity Group (NYSE:ONIT) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Onity Group (NYSE:ONIT - Free Report) by 205.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,723 shares of the company's stock after acquiring an additional 35,468 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.67% of Onity Group worth $1,619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ONIT. Empowered Funds LLC acquired a new position in Onity Group in the 4th quarter valued at about $1,377,000. Rhumbline Advisers purchased a new stake in shares of Onity Group during the fourth quarter worth about $313,000. New York State Common Retirement Fund acquired a new position in shares of Onity Group in the fourth quarter valued at approximately $100,000. Bank of New York Mellon Corp purchased a new position in shares of Onity Group during the fourth quarter valued at approximately $851,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Onity Group during the fourth quarter worth approximately $224,000. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Onity Group Trading Down 0.1 %

Shares of ONIT stock opened at $32.98 on Friday. The firm's 50-day simple moving average is $30.85 and its 200-day simple moving average is $31.75. 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 has a 1-year low of $22.40 and a 1-year high of $41.27. The firm has a market cap of $259.65 million, a P/E ratio of 8.06 and a beta of 1.58.

Onity Group (NYSE:ONIT - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.39 earnings per share for the quarter, missing analysts' consensus estimates of $2.34 by ($0.95). Onity Group had a net margin of 3.47% and a return on equity of 20.50%. The company had revenue of $224.80 million during the quarter, compared to analyst estimates of $253.37 million. As a group, equities analysts forecast that Onity Group will post 10.51 EPS for the current year.

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.

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