Federated Hermes Inc. Boosts Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Federated Hermes Inc. raised its holdings in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,689 shares of the company’s stock after buying an additional 466 shares during the period. Federated Hermes Inc.’s holdings in Mr. Cooper Group were worth $1,681,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in COOP. Blue Trust Inc. increased its stake in shares of Mr. Cooper Group by 77.1% in the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after purchasing an additional 145 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Mr. Cooper Group by 8,275.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock valued at $27,000 after purchasing an additional 331 shares during the period. CWM LLC increased its position in Mr. Cooper Group by 34.5% in the second quarter. CWM LLC now owns 601 shares of the company’s stock worth $49,000 after buying an additional 154 shares in the last quarter. Quest Partners LLC bought a new position in shares of Mr. Cooper Group in the fourth quarter worth about $61,000. Finally, Perkins Coie Trust Co purchased a new position in shares of Mr. Cooper Group during the 2nd quarter valued at about $81,000. 89.82% of the stock is currently owned by institutional investors.

Mr. Cooper Group Stock Performance

Shares of NASDAQ COOP opened at $90.72 on Friday. The company has a market cap of $5.87 billion, a P/E ratio of 9.50 and a beta of 1.41. Mr. Cooper Group Inc. has a 52-week low of $52.46 and a 52-week high of $96.00. The firm’s fifty day moving average is $89.65 and its two-hundred day moving average is $82.83.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Thursday, July 25th. The company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.19. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The firm had revenue of $583.00 million for the quarter, compared to analysts’ expectations of $552.09 million. During the same period in the previous year, the firm posted $1.66 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts forecast that Mr. Cooper Group Inc. will post 9.86 EPS for the current fiscal year.

Analyst Ratings Changes

COOP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research note on Monday, July 22nd. Barclays lifted their target price on shares of Mr. Cooper Group from $94.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Piper Sandler increased their price target on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Wedbush boosted their price objective on Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.57.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $80.93, for a total transaction of $2,023,250.00. Following the completion of the transaction, the chief executive officer now directly owns 259,631 shares in the company, valued at approximately $21,011,936.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.33% of the company’s stock.

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.