When the majority of individuals hear about the ‘financial sector’ term, the image of banks appears in their minds. Although it is the biggest component of the financial sector, but there are many other kinds of organizations which are included in this sector as well. In the financial sector, those companies are involved which are offering services such as payment services, insurance, savings, loans, and management of money for companies and individuals. A broad variety of companies are included in the financial sector stocks. These companies are from commercial and retail banking, asset management, accounting, credit cards, insurance, and brokerage. Some of the popular companies in this sector involve Morgan Stanley, Goldman Sachs Group Inc., Wells Fargo Co., etc. Here in this article, we will address some of the best finance stocks to buy with the fastest growth and best value as reviewed by Insider Monkey.
Let’s start with the top 5th company, Ocwen Financial Corporation, from the top finance stock picks of Leon Cooperman. During September 30, around 879,037 shares of OCN were owned by the billionaire CEO and chairman of Omega Advisors – as shown through his 13F filing and has also possessed a stake in 2017 in the mortgage company. A boost has been obtained by OCN shares from Cooperman during February he appeared on CNBC and remarked that the shares have been oversold after the acquisition of PHH of Ocwen in 2018 – a particular move that weighed on operations and piled on the debt.
The 2nd on the list is Navient Corp. There has been observed a decline in the hedge fund ownership of the stock of Navient Corp – sliding by around 73%. In this context, Leon Cooperman is moving against the grain by adding around 210,000 NAVI shares in the 3rd quarter of 2020 – which provides him a total of around 3.18 million. Cooperman experienced a political row last year over the services company offering student loans. This happened when Elizabeth Warren, a Democratic nominee called for imposing a tax on billionaires that will be utilized for funding the initiative of student loan forgiveness that will be a good hit for firms such as Navient. Warren was called out by Cooperman for her such policy and he termed her plans as ‘idiocy’ which compelled her to consider Cooperman as only after his personal interests as a shareholder of NAVI, which according to Warren is a company which used abusive tactics and mislead and cheated borrowers. There are 2 companies on the list, for more reading just move to 10 Best Finance Stocks to Buy Right Now.