Bank of New York Mellon Corp Has $45.58 Million Stake in Mr. Cooper Group Inc. (NASDAQ:COOP)

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

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd lifted its holdings in shares of 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 during the last quarter. Asset Planning Inc bought a new position in shares of Mr. Cooper Group in the fourth quarter worth about $48,000. ORG Partners LLC bought a new position in shares of Mr. Cooper Group in the fourth quarter worth about $51,000. Harbor Capital Advisors Inc. bought a new position in shares of Mr. Cooper Group in the third quarter worth about $52,000. Finally, Blue Trust Inc. lifted its holdings in shares of Mr. Cooper Group by 38.8% in the fourth quarter. Blue Trust Inc. now owns 794 shares of the company’s stock worth $76,000 after acquiring an additional 222 shares during the last quarter. Institutional investors own 89.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on COOP shares. JMP Securities reissued a “market outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, February 13th. Keefe, Bruyette & Woods raised 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. Barclays raised their price objective on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Piper Sandler raised their price objective on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Citizens Jmp upgraded shares of Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.22.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 698,821 shares in the company, valued at approximately $78,435,669.04. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.33% of the company’s stock.

Mr. Cooper Group Stock Performance

Mr. Cooper Group stock opened at $107.54 on Friday. Mr. Cooper Group Inc. has a 52-week low of $70.88 and a 52-week high of $114.05. The firm has a 50 day moving average price of $103.21 and a two-hundred day moving average price of $97.15. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 10.56, a PEG 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 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts predict that Mr. Cooper Group Inc. will post 13.17 EPS for the current fiscal year.

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.