PNC Financial Services Group Inc. Reduces Stake in Mr. Cooper Group Inc. (NASDAQ:COOP)

PNC Financial Services Group Inc. trimmed its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,209 shares of the company’s stock after selling 324 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Mr. Cooper Group were worth $339,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Mr. Cooper Group by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock worth $496,608,000 after buying an additional 391,780 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Mr. Cooper Group by 1.5% during the 4th quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock worth $111,674,000 after purchasing an additional 25,351 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Mr. Cooper Group by 12.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,593,780 shares of the company’s stock worth $103,787,000 after purchasing an additional 182,014 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Mr. Cooper Group by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 768,848 shares of the company’s stock valued at $50,067,000 after buying an additional 37,823 shares in the last quarter. Finally, Norges Bank purchased a new stake in Mr. Cooper Group in the 4th quarter valued at approximately $47,104,000. Institutional investors and hedge funds 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 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $81.42, for a total transaction of $2,035,500.00. Following the completion of the sale, the chief executive officer now directly owns 284,631 shares in the company, valued at $23,174,656.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $81.42, for a total value of $2,035,500.00. Following the completion of the sale, the chief executive officer now owns 284,631 shares of the company’s stock, valued at $23,174,656.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael R. Rawls sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $82.18, for a total value of $2,218,860.00. Following the completion of the transaction, the chief executive officer now owns 57,623 shares of the company’s stock, valued at approximately $4,735,458.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,000 shares of company stock worth $6,224,110. Company insiders own 2.33% of the company’s stock.

Mr. Cooper Group Stock Down 0.8 %

Shares of NASDAQ COOP opened at $81.23 on Friday. The stock has a market capitalization of $5.26 billion, a PE ratio of 8.51 and a beta of 1.38. The firm has a fifty day moving average of $81.67 and a 200-day moving average of $74.24. Mr. Cooper Group Inc. has a 52-week low of $48.01 and a 52-week high of $85.17.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.11 by $0.17. The company had revenue of $564.00 million during the quarter, compared to analyst estimates of $498.15 million. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%. Equities research analysts expect that Mr. Cooper Group Inc. will post 9.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on COOP shares. Wedbush boosted their price target on Mr. Cooper Group from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Barclays upped their price objective on shares of Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Jefferies Financial Group boosted their price target on Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $92.00 price objective (up previously from $86.00) on shares of Mr. Cooper Group in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mr. Cooper Group has an average rating of “Moderate Buy” and an average target price of $85.13.

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.