HB Wealth Management LLC Takes $314,000 Position in Mr. Cooper Group Inc $COOP

Key Points

• HB Wealth Management LLC acquired a new position in Mr. Cooper Group Inc worth approximately $314,000, purchasing 2,106 shares during the second quarter.
• CEO Jesse K. Bray sold 30,000 shares of the company, decreasing his ownership by 4.52%, while retaining 633,187 shares valued at over $115 million.
• Mr. Cooper Group recently announced a special dividend of $0.01, set to be paid on October 7th, with a record date of September 29th.

HB Wealth Management LLC purchased a new position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,106 shares of the company's stock, valued at approximately $314,000.

Several other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. purchased a new position in Mr. Cooper Group in the first quarter worth approximately $26,000. Allworth Financial LP lifted its stake in shares of Mr. Cooper Group by 24.5% in the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock valued at $51,000 after purchasing an additional 87 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Mr. Cooper Group during the 1st quarter worth $55,000. SVB Wealth LLC purchased a new position in shares of Mr. Cooper Group during the 1st quarter worth $62,000. Finally, CWM LLC increased its position in shares of Mr. Cooper Group by 20.7% during the 1st quarter. CWM LLC now owns 781 shares of the company's stock worth $93,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

Insider Transactions at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $182.43, for a total value of $5,472,900.00. Following the transaction, the chief executive officer directly owned 633,187 shares in the company, valued at $115,512,304.41. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.73% of the stock is owned by company insiders.

Mr. Cooper Group Stock Performance

Shares of Mr. Cooper Group stock opened at $210.79 on Tuesday. The business has a 50-day simple moving average of $198.27 and a 200-day simple moving average of $155.14. Mr. Cooper Group Inc has a one year low of $84.68 and a one year high of $234.73. The company has a market cap of $13.49 billion, a PE ratio of 24.12 and a beta of 1.08.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.28 by ($0.15). Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%.The firm had revenue of $608.00 million during the quarter, compared to analysts' expectations of $669.23 million. During the same quarter in the prior year, the firm earned $3.10 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts predict that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Mr. Cooper Group Announces Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 29th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, September 29th. Mr. Cooper Group's dividend payout ratio is 22.88%.

Wall Street Analyst Weigh In

A number of research firms have commented on COOP. UBS Group set a $176.00 target price on shares of Mr. Cooper Group in a research report on Tuesday, August 5th. Piper Sandler boosted their price target on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Barclays increased their price objective on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Mr. Cooper Group in a report on Saturday, September 27th. Finally, Jefferies Financial Group boosted their target price on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $140.38.

About Mr. Cooper Group

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.

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