Allworth Financial LP Acquires 87 Shares of Mr. Cooper Group Inc (NASDAQ:COOP)

Allworth Financial LP raised its holdings in Mr. Cooper Group Inc (NASDAQ:COOP) by 24.5% in the 1st quarter, HoldingsChannel reports. The firm owned 442 shares of the company’s stock after purchasing an additional 87 shares during the quarter. Allworth Financial LP’s holdings in Mr. Cooper Group were worth $51,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its stake in shares of Mr. Cooper Group by 359.1% in the first quarter. Envestnet Asset Management Inc. now owns 113,824 shares of the company’s stock valued at $13,613,000 after buying an additional 89,031 shares in the last quarter. Principal Financial Group Inc. lifted its position in Mr. Cooper Group by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 371,551 shares of the company’s stock worth $44,437,000 after buying an additional 7,799 shares in the last quarter. First Horizon Advisors Inc. bought a new stake in Mr. Cooper Group during the 1st quarter worth about $26,000. Pinnacle Financial Partners Inc acquired a new stake in Mr. Cooper Group in the 1st quarter valued at about $244,000. Finally, Fedenia Advisers LLC acquired a new position in shares of Mr. Cooper Group during the first quarter worth approximately $459,000. Institutional investors own 89.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays raised their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods lifted their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the company a “market perform” rating in a research note on Tuesday, April 8th. UBS Group restated a “neutral” rating and set a $156.00 target price on shares of Mr. Cooper Group in a research report on Tuesday. Piper Sandler raised their price target on Mr. Cooper Group from $143.00 to $158.00 and gave the company a “neutral” rating in a report on Tuesday, July 1st. Finally, Citizens Jmp lowered Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $136.14.

Mr. Cooper Group Stock Performance

Shares of Mr. Cooper Group stock opened at $150.43 on Friday. The firm has a fifty day moving average of $140.07 and a two-hundred day moving average of $119.40. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 0.43 and a beta of 1.05. Mr. Cooper Group Inc has a 52 week low of $80.35 and a 52 week high of $158.00.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.16. Mr. Cooper Group had a return on equity of 15.27% and a net margin of 25.93%. The business had revenue of $560.00 million during the quarter, compared to analysts’ expectations of $620.57 million. During the same period in the previous year, the firm earned $2.73 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. As a group, research analysts forecast that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $152.14, for a total value of $4,564,200.00. Following the completion of the sale, the chief executive officer directly owned 693,187 shares of the company’s stock, valued at $105,461,470.18. This represents a 4.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.73% of the company’s stock.

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.