Northern Trust Corp increased its holdings in shares of Ocwen Financial Corp (NYSE:OCN) by 3.6% during the second quarter, HoldingsChannel.com reports. The fund owned 1,697,554 shares of the financial services provider’s stock after buying an additional 59,309 shares during the quarter. Northern Trust Corp’s holdings in Ocwen Financial were worth $3,514,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Ocwen Financial by 32.4% during the second quarter. JPMorgan Chase & Co. now owns 37,958 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 9,285 shares during the period. Metropolitan Life Insurance Co NY bought a new stake in Ocwen Financial during the first quarter worth $78,000. MetLife Investment Advisors LLC bought a new stake in Ocwen Financial during the first quarter worth $108,000. Bank of Montreal Can lifted its holdings in Ocwen Financial by 19.4% during the second quarter. Bank of Montreal Can now owns 61,387 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 9,971 shares during the period. Finally, KBC Group NV bought a new stake in Ocwen Financial during the second quarter worth $151,000. Institutional investors and hedge funds own 61.81% of the company’s stock.
NYSE:OCN opened at $1.83 on Friday. The company has a debt-to-equity ratio of 18.07, a current ratio of 9.87 and a quick ratio of 9.87. The business has a fifty day simple moving average of $1.87 and a two-hundred day simple moving average of $1.83. Ocwen Financial Corp has a 1 year low of $1.20 and a 1 year high of $4.01.
In other news, Director Kevin Stein bought 30,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $1.53 per share, with a total value of $45,900.00. Following the completion of the transaction, the director now directly owns 74,278 shares of the company’s stock, valued at approximately $113,645.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jenne K. Britell bought 31,600 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was purchased at an average cost of $1.59 per share, with a total value of $50,244.00. Following the completion of the transaction, the director now directly owns 74,278 shares of the company’s stock, valued at $118,102.02. The disclosure for this purchase can be found here. Insiders acquired 515,618 shares of company stock valued at $778,761 over the last three months. Company insiders own 0.90% of the company’s stock.
Separately, ValuEngine raised Ocwen Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.
Ocwen Financial Company Profile
Ocwen Financial Corporation, a financial services holding company, originates and services loans in the United States, the United States Virgin Islands, India, and Philippines. Its Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate.
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