Blue Trust Inc. Boosts Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Blue Trust Inc. raised its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 94.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,111 shares of the company’s stock after acquiring an additional 539 shares during the period. Blue Trust Inc.’s holdings in Mr. Cooper Group were worth $102,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dakota Wealth Management boosted its stake in Mr. Cooper Group by 0.7% during the fourth quarter. Dakota Wealth Management now owns 27,695 shares of the company’s stock valued at $2,659,000 after buying an additional 181 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Mr. Cooper Group by 1.6% during the 2nd quarter. Truist Financial Corp now owns 11,840 shares of the company’s stock worth $962,000 after acquiring an additional 187 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Mr. Cooper Group by 7.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,021 shares of the company’s stock valued at $278,000 after acquiring an additional 213 shares during the last quarter. Harvest Fund Management Co. Ltd grew 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 valued at $41,000 after purchasing an additional 270 shares in the last quarter. Finally, Financial Management Professionals Inc. bought a new stake in Mr. Cooper Group in the third quarter worth $30,000. Institutional investors own 89.82% of the company’s stock.

Analysts Set New Price Targets

COOP has been the subject of several research reports. Compass Point increased their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Piper Sandler lifted their price target on 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 started coverage on Mr. Cooper Group in a research note on Tuesday, January 14th. They set an “outperform” rating and a $115.00 price objective on the stock. Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mr. Cooper Group has an average rating of “Moderate Buy” and a consensus price target of $104.13.

Mr. Cooper Group Stock Performance

Shares of NASDAQ:COOP opened at $105.56 on Friday. The firm’s 50 day simple moving average is $98.26 and its 200-day simple moving average is $94.28. Mr. Cooper Group Inc. has a one year low of $65.80 and a one year high of $107.85. The firm has a market cap of $6.75 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43.

Insider Buying and Selling at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $97.58, for a total value of $2,927,400.00. Following the completion of the transaction, the chief executive officer now owns 788,821 shares in the company, valued at $76,973,153.18. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.