Envestnet Asset Management Inc. Boosts Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Envestnet Asset Management Inc. boosted its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,793 shares of the company's stock after purchasing an additional 2,199 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Mr. Cooper Group were worth $2,380,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Mr. Cooper Group in the 4th quarter worth about $72,984,000. Veridan Wealth LLC bought a new position in shares of Mr. Cooper Group during the 4th quarter worth $56,244,000. Wellington Management Group LLP increased 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 worth $109,346,000 after acquiring an additional 343,243 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in Mr. Cooper Group during the fourth quarter valued at about $9,795,000. Finally, Barclays PLC increased its stake in shares of Mr. Cooper Group by 198.0% in the third quarter. Barclays PLC now owns 132,017 shares of the company's stock worth $12,170,000 after purchasing an additional 87,712 shares in the last quarter. 89.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on Mr. Cooper Group from $115.00 to $143.00 and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Barclays upped their price target on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, February 13th. UBS Group upped their price objective 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. Finally, Citizens Jmp cut Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $131.14.

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $112.24, for a total value of $3,367,200.00. Following the completion of the transaction, the chief executive officer now owns 698,821 shares in the company, valued at approximately $78,435,669.04. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.33% of the company's stock.

Mr. Cooper Group Stock Up 1.5 %

Shares of NASDAQ COOP traded up $1.76 during trading on Thursday, reaching $120.77. The company had a trading volume of 117,393 shares, compared to its average volume of 570,118. Mr. Cooper Group Inc. has a 12-month low of $76.85 and a 12-month high of $137.60. The business's 50-day moving average is $111.76 and its 200 day moving average is $102.93. The stock has a market cap of $7.73 billion, a PE ratio of 11.85, a P/E/G ratio of 0.32 and a beta of 1.17.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) 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 company had revenue of $560.00 million for the quarter, compared to analysts' expectations of $620.57 million. During the same quarter last year, the company posted $2.73 earnings per share. The firm's quarterly revenue was down .7% on a year-over-year basis. On average, analysts anticipate that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

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.