Northern Trust Corp Decreases Stock Position in Mr. Cooper Group Inc $COOP

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 cut its position in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 4.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 797,541 shares of the company's stock after selling 37,828 shares during the period. Northern Trust Corp owned approximately 1.25% of Mr. Cooper Group worth $95,386,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Invesco Ltd. raised its holdings in Mr. Cooper Group by 11.8% in the first quarter. Invesco Ltd. now owns 2,013,536 shares of the company's stock worth $240,819,000 after buying an additional 213,167 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Mr. Cooper Group by 16.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,902 shares of the company's stock valued at $83,712,000 after acquiring an additional 125,897 shares during the last quarter. Cercano Management LLC boosted its holdings in shares of Mr. Cooper Group by 66.5% during the 4th quarter. Cercano Management LLC now owns 790,753 shares of the company's stock valued at $75,920,000 after acquiring an additional 315,801 shares during the last quarter. Finally, 140 Summer Partners LP purchased a new stake in shares of Mr. Cooper Group during the 4th quarter valued at about $69,959,000. 89.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COOP has been the subject of several research reports. Barclays upped their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. UBS Group set a $176.00 target price on shares of Mr. Cooper Group in a research note on Tuesday, August 5th. Jefferies Financial Group raised their target price on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Finally, Piper Sandler raised their target price 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. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Mr. Cooper Group has an average rating of "Hold" and an average price target of $140.38.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $174.72, for a total transaction of $5,241,600.00. Following the completion of the transaction, the chief executive officer directly owned 663,187 shares in the company, valued at approximately $115,872,032.64. This trade represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.73% of the company's stock.

Mr. Cooper Group Stock Down 1.5%

Shares of Mr. Cooper Group stock traded down $2.93 on Thursday, reaching $188.05. The stock had a trading volume of 376,051 shares, compared to its average volume of 981,773. The stock has a market capitalization of $12.03 billion, a P/E ratio of 21.50 and a beta of 0.98. The company has a 50 day moving average price of $166.07 and a 200 day moving average price of $134.61. Mr. Cooper Group Inc has a 1 year low of $84.15 and a 1 year high of $203.42.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.13 EPS for the quarter, missing the consensus estimate of $3.28 by ($0.15). The company had revenue of $608.00 million during the quarter, compared to analysts' expectations of $669.23 million. Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.10 earnings per share. On average, analysts forecast 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.