Franklin Resources Inc. Lowers Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Franklin Resources Inc. reduced its stake in Mr. Cooper Group Inc. (NASDAQ:COOP) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,847 shares of the company’s stock after selling 3,611 shares during the period. Franklin Resources Inc.’s holdings in Mr. Cooper Group were worth $7,196,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. LSV Asset Management boosted its stake in Mr. Cooper Group by 249.2% in the 2nd quarter. LSV Asset Management now owns 633,260 shares of the company’s stock worth $51,440,000 after purchasing an additional 451,926 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in Mr. Cooper Group in the second quarter worth about $21,609,000. FMR LLC lifted its stake in shares of Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company’s stock worth $44,791,000 after buying an additional 145,767 shares in the last quarter. Basswood Capital Management L.L.C. grew its holdings in shares of Mr. Cooper Group by 36.6% during the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock valued at $45,744,000 after buying an additional 132,970 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Mr. Cooper Group by 11.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after buying an additional 125,055 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on COOP shares. Compass Point upped their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays increased their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Wedbush reissued an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.57.

Mr. Cooper Group Price Performance

Shares of COOP opened at $95.14 on Monday. Mr. Cooper Group Inc. has a one year low of $61.38 and a one year high of $103.05. The business has a fifty day moving average of $95.55 and a 200 day moving average of $90.42. The firm has a market capitalization of $6.09 billion, a P/E ratio of 12.29 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.54 by $0.30. The firm had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The business’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.79 EPS. Analysts expect that Mr. Cooper Group Inc. will post 10.16 EPS for the current fiscal year.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the completion of the sale, the chief executive officer now owns 818,821 shares of the company’s stock, valued at approximately $72,391,964.61. The trade was a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.33% of the stock is 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.