JPMorgan Chase & Co. Cuts Stock Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

JPMorgan Chase & Co. reduced its stake in Mr. Cooper Group Inc. (NASDAQ:COOP) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 557,649 shares of the company’s stock after selling 5,747 shares during the period. JPMorgan Chase & Co. owned about 0.87% of Mr. Cooper Group worth $51,404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COOP. Charles Schwab Investment Management Inc. increased its stake in shares of Mr. Cooper Group by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock worth $84,471,000 after buying an additional 52,001 shares during the period. World Investment Advisors LLC bought a new position in shares of Mr. Cooper Group during the third quarter valued at about $2,537,000. Cynosure Group LLC bought a new position in shares of Mr. Cooper Group during the third quarter valued at about $730,000. FMR LLC boosted its holdings in shares of Mr. Cooper Group by 42.9% during the third quarter. FMR LLC now owns 485,907 shares of the company’s stock worth $44,791,000 after purchasing an additional 145,767 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in shares of Mr. Cooper Group by 50.7% in the third quarter. Los Angeles Capital Management LLC now owns 32,592 shares of the company’s stock worth $3,004,000 after purchasing an additional 10,964 shares during the last quarter. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Stock Performance

Shares of NASDAQ COOP opened at $95.39 on Friday. The company has a 50 day simple moving average of $95.97 and a two-hundred day simple moving average of $91.32. Mr. Cooper Group Inc. has a fifty-two week low of $61.38 and a fifty-two week high of $103.05. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 12.32 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.54 by $0.30. The business had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.79 earnings per share. On average, analysts forecast that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.41, for a total value of $2,652,300.00. Following the completion of the sale, the chief executive officer now owns 818,821 shares of the company’s stock, valued at approximately $72,391,964.61. This trade represents a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 90,000 shares of company stock valued at $8,414,400. Insiders own 2.33% of the company’s stock.

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.