Bank of New York Mellon Corp Sells 14,469 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Bank of New York Mellon Corp lessened its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 474,767 shares of the company’s stock after selling 14,469 shares during the quarter. Bank of New York Mellon Corp owned 0.74% of Mr. Cooper Group worth $45,582,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC bought a new stake in Mr. Cooper Group during the third quarter worth $344,000. Harbor Capital Advisors Inc. bought a new stake in Mr. Cooper Group during the third quarter worth $52,000. Assetmark Inc. raised its position in Mr. Cooper Group by 6.4% during the third quarter. Assetmark Inc. now owns 11,127 shares of the company’s stock worth $1,026,000 after acquiring an additional 667 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Mr. Cooper Group by 12.9% during the third quarter. Crossmark Global Holdings Inc. now owns 5,186 shares of the company’s stock worth $478,000 after acquiring an additional 591 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Mr. Cooper Group by 50.7% during the third quarter. Los Angeles Capital Management LLC now owns 32,592 shares of the company’s stock worth $3,004,000 after acquiring an additional 10,964 shares in the last quarter. Institutional investors own 89.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on COOP. Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. UBS Group upped their price target on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Piper Sandler upped their price target on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $112.22.

Mr. Cooper Group Stock Performance

COOP stock opened at $107.54 on Friday. The company’s 50-day simple moving average is $103.21 and its 200 day simple moving average is $97.15. Mr. Cooper Group Inc. has a 52 week low of $70.88 and a 52 week high of $114.05. The company has a market capitalization of $6.84 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.32 and a beta of 1.49.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. On average, analysts forecast that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the sale, the chief executive officer now directly owns 698,821 shares in the company, valued at $78,435,669.04. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.33% of the stock is currently owned by corporate insiders.

About Mr. Cooper Group

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.