State of Tennessee Department of Treasury Buys 832 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

State of Tennessee Department of Treasury grew its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,203 shares of the company’s stock after buying an additional 832 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Mr. Cooper Group were worth $1,652,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in Mr. Cooper Group in the 4th quarter worth about $72,984,000. Veridan Wealth LLC acquired a new position in shares of Mr. Cooper Group in the fourth quarter valued at approximately $56,244,000. Wellington Management Group LLP raised its holdings in Mr. Cooper Group by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock valued at $109,346,000 after buying an additional 343,243 shares during the last quarter. Lodge Hill Capital LLC boosted its position in Mr. Cooper Group by 315.6% during the 4th quarter. Lodge Hill Capital LLC now owns 166,640 shares of the company’s stock worth $15,999,000 after buying an additional 126,540 shares during the period. Finally, Wealthfront Advisers LLC acquired a new position in Mr. Cooper Group in the 4th quarter valued at approximately $9,795,000. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Stock Performance

Shares of COOP opened at $119.63 on Wednesday. The firm has a market cap of $7.65 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.32 and a beta of 1.17. Mr. Cooper Group Inc. has a 52-week low of $76.85 and a 52-week high of $137.60. The business’s 50 day moving average price is $111.59 and its two-hundred day moving average price is $102.82.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.16. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. The business had revenue of $560.00 million for the quarter, compared to analyst estimates of $620.57 million. During the same period in the prior year, the firm earned $2.73 earnings per share. Mr. Cooper Group’s revenue was down .7% on a year-over-year basis. Research analysts predict that Mr. Cooper Group Inc. will post 13.17 EPS for the current fiscal year.

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares of the company’s stock, valued at $78,435,669.04. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

COOP has been the topic of several analyst reports. Barclays boosted their price objective on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. JMP Securities reissued a “market outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Piper Sandler lowered Mr. Cooper Group from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $125.00 to $143.00 in a research note on Friday, April 4th. Keefe, Bruyette & Woods upped their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the company a “market perform” rating in a report on Tuesday, April 8th. Finally, UBS Group raised their price target on shares of Mr. Cooper Group from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.14.

Mr. Cooper Group Company Profile

Mr. Cooper Group Inc, together with its subsidiaries, operates as a non-bank servicer of residential mortgage loans in the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities on behalf of investors or owners of the underlying mortgages and mortgage servicing rights, including collecting and disbursing borrower payments, investor reporting, customer service, modifying loans, performing collections, foreclosures, and the sale of real estate owned.