Wells Fargo & Company MN Grows Stock Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Wells Fargo & Company MN lifted its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,452 shares of the company's stock after acquiring an additional 6,588 shares during the period. Wells Fargo & Company MN owned approximately 0.13% of Mr. Cooper Group worth $7,916,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Mr. Cooper Group in the fourth quarter worth $72,984,000. Veridan Wealth LLC bought a new stake in shares of Mr. Cooper Group during the 4th quarter valued at about $56,244,000. Wellington Management Group LLP increased its position in shares of Mr. Cooper Group by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company's stock valued at $109,346,000 after purchasing an additional 343,243 shares during the last quarter. Wealthfront Advisers LLC bought a new position in shares of Mr. Cooper Group in the 4th quarter worth approximately $9,795,000. Finally, Barclays PLC lifted its stake in shares of Mr. Cooper Group by 198.0% in the 3rd quarter. Barclays PLC now owns 132,017 shares of the company's stock worth $12,170,000 after purchasing an additional 87,712 shares during the period. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on COOP. UBS Group upped their target price on shares of Mr. Cooper Group from $135.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. JMP Securities restated a "market outperform" rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Keefe, Bruyette & Woods raised their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Barclays boosted their price target on Mr. Cooper Group from $130.00 to $147.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Finally, Citizens Jmp downgraded Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $126.00.

Mr. Cooper Group Stock Up 4.0 %

NASDAQ:COOP traded up $4.46 on Wednesday, reaching $116.53. 265,864 shares of the company's stock traded hands, compared to its average volume of 869,915. The stock has a 50-day simple moving average of $110.84 and a 200-day simple moving average of $102.04. Mr. Cooper Group Inc. has a 12 month low of $76.85 and a 12 month high of $137.60. The firm has a market cap of $7.46 billion, a PE ratio of 11.45, a P/E/G ratio of 0.32 and a beta of 1.17.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.09. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. On average, equities analysts anticipate that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated 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 sale, the chief executive officer now directly owns 698,821 shares of the company's stock, valued at approximately $78,435,669.04. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.33% of the stock is owned by company 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.