Northern Trust Corp Grows Stake in Mr. Cooper Group Inc. (NASDAQ:COOP)

Northern Trust Corp lifted its position in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 835,369 shares of the company's stock after buying an additional 53,534 shares during the period. Northern Trust Corp owned about 1.31% of Mr. Cooper Group worth $80,204,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management boosted its stake in shares of Mr. Cooper Group by 41.3% during the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company's stock worth $31,000 after buying an additional 95 shares during the last quarter. Asset Planning Inc acquired a new stake in shares of Mr. Cooper Group in the fourth quarter valued at approximately $48,000. ORG Partners LLC acquired a new stake in shares of Mr. Cooper Group in the fourth quarter valued at approximately $51,000. Covestor Ltd raised its position in shares of Mr. Cooper Group by 418.9% in the fourth quarter. Covestor Ltd now owns 742 shares of the company's stock valued at $71,000 after buying an additional 599 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Mr. Cooper Group by 38.8% in the fourth quarter. Blue Trust Inc. now owns 794 shares of the company's stock valued at $76,000 after buying an additional 222 shares in the last quarter. Institutional investors own 89.82% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on COOP. Barclays boosted their price objective on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Piper Sandler cut shares of Mr. Cooper Group from an "overweight" rating to a "neutral" rating and upped their price target for the company from $125.00 to $143.00 in a research report on Friday, April 4th. UBS Group increased their price objective on shares of Mr. Cooper Group from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Citizens Jmp cut shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $131.14.

Mr. Cooper Group Price Performance

COOP traded down $4.42 during midday trading on Friday, reaching $114.57. 1,090,781 shares of the company's stock traded hands, compared to its average volume of 584,185. The firm has a fifty day moving average of $112.79 and a two-hundred day moving average of $104.27. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 0.32 and a beta of 1.06. Mr. Cooper Group Inc. has a 52 week low of $78.20 and a 52 week high of $137.60.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.16. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. The firm had revenue of $560.00 million for the quarter, compared to the consensus estimate of $620.57 million. During the same quarter in the prior year, the business earned $2.73 EPS. The business's revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts forecast that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 698,821 shares in the company, valued at approximately $78,435,669.04. This represents a 4.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.73% of the stock is currently owned by insiders.

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.