The Manufacturers Life Insurance Company Sells 421 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

The Manufacturers Life Insurance Company lessened its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,585 shares of the company’s stock after selling 421 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Mr. Cooper Group worth $3,372,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in Mr. Cooper Group by 77.1% in the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock valued at $26,000 after purchasing an additional 145 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Mr. Cooper Group by 8,275.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock valued at $27,000 after buying an additional 331 shares in the last quarter. Quarry LP bought a new stake in Mr. Cooper Group in the 2nd quarter valued at about $29,000. Financial Management Professionals Inc. acquired a new position in Mr. Cooper Group during the 3rd quarter worth approximately $30,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in Mr. Cooper Group by 152.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after acquiring an additional 270 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Trading Up 1.2 %

Mr. Cooper Group stock opened at $97.21 on Friday. Mr. Cooper Group Inc. has a 12 month low of $61.38 and a 12 month high of $103.05. The business’s fifty day simple moving average is $94.89 and its two-hundred day simple moving average is $89.49. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 12.56 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.54 by $0.30. The company had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. Mr. Cooper Group’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.79 EPS. On average, equities research analysts predict that Mr. Cooper Group Inc. will post 10.16 EPS for the current year.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the transaction, the chief executive officer now owns 818,821 shares in the company, valued at $72,391,964.61. This trade represents a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COOP. Compass Point boosted their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Finally, Barclays raised their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $100.57.

Mr. Cooper Group Company 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.