Mr. Cooper Group Inc. (NASDAQ:COOP) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP) by 18.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 117,797 shares of the company’s stock after selling 26,070 shares during the period. Alliancebernstein L.P.’s holdings in Mr. Cooper Group were worth $11,310,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in Mr. Cooper Group by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock worth $109,346,000 after buying an additional 343,243 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Mr. Cooper Group by 6.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 10,287 shares of the company’s stock worth $988,000 after acquiring an additional 648 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Mr. Cooper Group in the fourth quarter valued at approximately $926,000. Norges Bank acquired a new position in Mr. Cooper Group during the fourth quarter worth approximately $72,984,000. Finally, JPMorgan Chase & Co. raised its stake in Mr. Cooper Group by 15.5% during the fourth quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company’s stock worth $61,846,000 after purchasing an additional 86,510 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Trading Down 2.5 %

COOP opened at $113.61 on Thursday. Mr. Cooper Group Inc. has a twelve month low of $74.49 and a twelve month high of $137.60. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.32 and a beta of 1.17. The company has a fifty day simple moving average of $109.82 and a 200 day simple moving average of $100.77.

Mr. Cooper Group (NASDAQ:COOP) last announced its earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts forecast that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler downgraded Mr. Cooper Group from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $125.00 to $143.00 in a report on Friday, April 4th. UBS Group lifted their price objective on Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Barclays increased their target price on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the stock an “overweight” rating in a research report on Tuesday. 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 raised their target price on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the company a “market perform” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.78.

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.