Bank of New York Mellon Corp Has $55.17 Million Stake in Mr. Cooper Group Inc (NASDAQ:COOP)

Bank of New York Mellon Corp cut its holdings in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 461,288 shares of the company's stock after selling 13,479 shares during the period. Bank of New York Mellon Corp owned about 0.72% of Mr. Cooper Group worth $55,170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Invesco Ltd. raised its holdings in shares of Mr. Cooper Group by 5.2% in the fourth quarter. Invesco Ltd. now owns 1,800,369 shares of the company's stock valued at $172,853,000 after purchasing an additional 89,544 shares during the last quarter. Wellington Management Group LLP increased its holdings in Mr. Cooper Group by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company's stock worth $109,346,000 after buying an additional 343,243 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Mr. Cooper Group by 13.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company's stock worth $126,438,000 after buying an additional 129,414 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Mr. Cooper Group by 16.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,902 shares of the company's stock worth $83,712,000 after buying an additional 125,897 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Mr. Cooper Group by 6.8% during the fourth quarter. Northern Trust Corp now owns 835,369 shares of the company's stock worth $80,204,000 after buying an additional 53,534 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on COOP. Piper Sandler boosted their target price on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Barclays boosted their target price on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Citizens Jmp downgraded shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods boosted their target price on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Finally, UBS Group boosted their target price 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $134.57.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were 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 owned 693,187 shares of the company's stock, valued at approximately $105,461,470.18. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.73% of the company's stock.

Mr. Cooper Group Price Performance

COOP stock traded down $1.36 during midday trading on Friday, reaching $147.00. 713,383 shares of the company were exchanged, compared to its average volume of 727,705. The business has a 50-day moving average price of $137.01 and a two-hundred day moving average price of $117.74. Mr. Cooper Group Inc has a one year low of $80.35 and a one year high of $158.00. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 0.43 and a beta of 1.05.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released 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. The firm had revenue of $560.00 million during the quarter, compared to analysts' expectations of $620.57 million. Mr. Cooper Group had a net margin of 25.93% and a return on equity of 15.27%. The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.73 earnings per share. As a group, analysts anticipate that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal 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.