Raymond James Financial Inc. Acquires Shares of 42,508 Mr. Cooper Group Inc. (NASDAQ:COOP)

Raymond James Financial Inc. bought a new position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 42,508 shares of the company's stock, valued at approximately $4,081,000. Raymond James Financial Inc. owned 0.07% of Mr. Cooper Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management increased its stake in Mr. Cooper Group by 41.3% in the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company's stock worth $31,000 after acquiring an additional 95 shares during the last quarter. Asset Planning Inc bought a new position in shares of Mr. Cooper Group in the fourth quarter worth approximately $48,000. ORG Partners LLC bought a new position in shares of Mr. Cooper Group in the fourth quarter worth approximately $51,000. Blue Trust Inc. raised its stake in 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 purchasing an additional 222 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in Mr. Cooper Group during the fourth quarter valued at approximately $78,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COOP has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Mr. Cooper Group from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Keefe, Bruyette & Woods upped their price objective 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. JMP Securities restated a "market outperform" rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Piper Sandler cut shares of Mr. Cooper Group from an "overweight" rating to a "neutral" rating and increased their price target for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Finally, Barclays boosted their price objective on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.14.

Mr. Cooper Group Stock Performance

Shares of NASDAQ COOP traded down $1.10 during trading hours on Friday, hitting $118.50. The company's stock had a trading volume of 167,272 shares, compared to its average volume of 571,305. The business has a 50-day simple moving average of $111.96 and a 200-day simple moving average of $103.09. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 0.32 and a beta of 1.17. Mr. Cooper Group Inc. has a 12 month low of $77.54 and a 12 month high of $137.60.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $2.97 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.16. The company 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 firm's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.73 earnings per share. On average, equities research analysts forecast that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 698,821 shares of the company's stock, valued at approximately $78,435,669.04. This represents a 4.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.33% of the stock is 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.