Corebridge Financial Inc. Reduces Stock Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Corebridge Financial Inc. reduced its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,628 shares of the company’s stock after selling 3,035 shares during the quarter. Corebridge Financial Inc. owned approximately 0.05% of Mr. Cooper Group worth $3,229,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COOP. Picton Mahoney Asset Management increased its position in shares of Mr. Cooper Group by 41.3% during the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after buying an additional 95 shares during the period. Asset Planning Inc bought a new stake in Mr. Cooper Group during the 4th quarter valued at approximately $48,000. ORG Partners LLC purchased a new position in shares of Mr. Cooper Group during the 4th quarter worth approximately $51,000. Blue Trust Inc. raised its position in shares of Mr. Cooper Group by 38.8% in the 4th quarter. Blue Trust Inc. now owns 794 shares of the company’s stock worth $76,000 after acquiring an additional 222 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Mr. Cooper Group in the 3rd quarter valued at approximately $201,000. 89.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COOP. Piper Sandler upped their price target on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. JMP Securities reiterated a “market outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, February 13th. 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 objective on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Barclays lifted their target price 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. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $112.22.

Mr. Cooper Group Trading Up 14.5 %

COOP stock opened at $119.60 on Tuesday. The stock’s 50 day simple moving average is $106.35 and its 200 day simple moving average is $98.93. Mr. Cooper Group Inc. has a 12-month low of $74.49 and a 12-month high of $125.86. The stock has a market capitalization of $7.61 billion, a PE ratio of 11.75, 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 data 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 return on equity of 14.76% and a net margin of 30.07%. On average, research analysts predict that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of the 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 transaction, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.