Price T Rowe Associates Inc. MD Acquires 125,897 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Price T Rowe Associates Inc. MD grew its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 16.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 871,902 shares of the company's stock after buying an additional 125,897 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.36% of Mr. Cooper Group worth $83,712,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in COOP. Invesco Ltd. increased its stake in Mr. Cooper Group by 5.2% during the fourth quarter. Invesco Ltd. now owns 1,800,369 shares of the company's stock valued at $172,853,000 after acquiring an additional 89,544 shares during the period. Wellington Management Group LLP increased its position in shares of Mr. Cooper Group by 43.1% during the fourth 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 period. Norges Bank bought a new stake in shares of Mr. Cooper Group during the fourth quarter valued at approximately $72,984,000. JPMorgan Chase & Co. raised its stake in shares of Mr. Cooper Group by 15.5% in the fourth quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company's stock valued at $61,846,000 after purchasing an additional 86,510 shares in the last quarter. Finally, Veridan Wealth LLC bought a new position in Mr. Cooper Group in the fourth quarter worth $56,244,000. Institutional investors own 89.82% of the company's stock.

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were 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 trade represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

COOP has been the subject of a number of recent research reports. Barclays increased 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 note on Tuesday, April 8th. JMP Securities reissued a "market outperform" rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Keefe, Bruyette & Woods lifted their price objective on Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a report on Tuesday, April 8th. Piper Sandler cut Mr. Cooper Group from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $125.00 to $143.00 in a report on Friday, April 4th. Finally, Citizens Jmp downgraded Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $131.14.

Mr. Cooper Group Price Performance

Shares of NASDAQ:COOP traded up $0.98 during trading on Friday, reaching $120.58. The stock had a trading volume of 753,284 shares, compared to its average volume of 574,827. The stock has a market capitalization of $7.72 billion, a PE ratio of 11.84, a P/E/G ratio of 0.32 and a beta of 1.17. Mr. Cooper Group Inc. has a 52 week low of $78.20 and a 52 week high of $137.60. The business's 50-day moving average price is $112.15 and its 200 day moving average price is $103.30.

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