Northern Trust Corp Has $6.03 Million Position in Ocwen Financial Corporation (OCN)

Northern Trust Corp increased its position in Ocwen Financial Corporation (NYSE:OCN) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,243,305 shares of the financial services provider’s stock after buying an additional 99,342 shares during the quarter. Northern Trust Corp owned 1.71% of Ocwen Financial Corporation worth $6,034,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Paloma Partners Management Co purchased a new position in shares of Ocwen Financial Corporation in the first quarter worth $104,000. Quinn Opportunity Partners LLC increased its stake in shares of Ocwen Financial Corporation by 3.6% in the second quarter. Quinn Opportunity Partners LLC now owns 59,653 shares of the financial services provider’s stock worth $160,000 after buying an additional 2,100 shares during the period. Quantitative Investment Management LLC purchased a new position in shares of Ocwen Financial Corporation in the second quarter worth $327,000. American International Group Inc. increased its stake in shares of Ocwen Financial Corporation by 7.1% in the first quarter. American International Group Inc. now owns 61,957 shares of the financial services provider’s stock worth $339,000 after buying an additional 4,088 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Ocwen Financial Corporation by 2.2% in the second quarter. Rhumbline Advisers now owns 128,831 shares of the financial services provider’s stock worth $347,000 after buying an additional 2,826 shares during the period. 48.35% of the stock is currently owned by institutional investors.

Ocwen Financial Corporation (NYSE:OCN) opened at $3.03 on Wednesday. The company has a debt-to-equity ratio of 9.82, a current ratio of 5.07 and a quick ratio of 5.07. Ocwen Financial Corporation has a 1 year low of $2.12 and a 1 year high of $6.15.

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Several research analysts recently commented on the stock. ValuEngine downgraded shares of Ocwen Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. BidaskClub downgraded shares of Ocwen Financial Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $3.00 target price on shares of Ocwen Financial Corporation in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $3.33.

About Ocwen Financial Corporation

Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, originates and services loans. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans.

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Institutional Ownership by Quarter for Ocwen Financial Corporation (NYSE:OCN)

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