Mr. Cooper Group Inc $COOP Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its holdings in Mr. Cooper Group Inc by 4.5% during the 1st quarter, now owning approximately 1.25% of the company, equating to $95.4 million.
• CEO Jesse K. Bray sold 30,000 shares for $5.24 million, decreasing his ownership by 4.33% while still holding shares valued at over $115 million.
• Mr. Cooper Group's stock recently opened at $198.98 with a market cap of $12.73 billion, despite a recent quarterly earnings miss of expected EPS by $0.15.

Northern Trust Corp lessened its stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 797,541 shares of the company's stock after selling 37,828 shares during the quarter. Northern Trust Corp owned approximately 1.25% of Mr. Cooper Group worth $95,386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Avenue Securities LLC bought a new stake in Mr. Cooper Group during the 1st quarter valued at $1,684,000. Natixis Advisors LLC boosted its position in Mr. Cooper Group by 9.6% during the 1st quarter. Natixis Advisors LLC now owns 23,956 shares of the company's stock valued at $2,865,000 after acquiring an additional 2,093 shares in the last quarter. Independent Advisor Alliance bought a new stake in Mr. Cooper Group during the 1st quarter valued at $229,000. Assenagon Asset Management S.A. boosted its position in Mr. Cooper Group by 13.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company's stock valued at $126,438,000 after acquiring an additional 129,414 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in Mr. Cooper Group during the 4th quarter valued at $394,000. Institutional investors own 89.82% of the company's stock.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $174.72, for a total value of $5,241,600.00. Following the completion of the sale, the chief executive officer directly owned 663,187 shares in the company, valued at $115,872,032.64. This represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.73% of the company's stock.

Wall Street Analyst Weigh In

COOP has been the topic of several recent research reports. UBS Group set a $176.00 target price on Mr. Cooper Group in a research report on Tuesday, August 5th. Jefferies Financial Group raised their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Piper Sandler raised their price objective on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Finally, Barclays raised their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $140.38.

Mr. Cooper Group Price Performance

COOP traded up $0.24 on Friday, reaching $188.53. 814,668 shares of the stock were exchanged, compared to its average volume of 920,758. The company's 50-day moving average price is $167.73 and its 200 day moving average price is $135.73. Mr. Cooper Group Inc has a fifty-two week low of $84.15 and a fifty-two week high of $203.42. The firm has a market capitalization of $12.06 billion, a PE ratio of 21.57 and a beta of 0.98.

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

Mr. Cooper Group 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.