Principal Financial Group Inc. Grows Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Principal Financial Group Inc. lifted its position in Mr. Cooper Group Inc. (NASDAQ:COOP) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 363,752 shares of the company’s stock after purchasing an additional 13,173 shares during the quarter. Principal Financial Group Inc.’s holdings in Mr. Cooper Group were worth $34,924,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in shares of Mr. Cooper Group in the third quarter valued at about $30,000. 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 during the period. Asset Planning Inc purchased a new stake in shares of Mr. Cooper Group in the fourth quarter valued at about $48,000. ORG Partners LLC purchased a new stake in shares of Mr. Cooper Group in the fourth quarter valued at about $51,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Mr. Cooper Group in the third quarter valued at about $52,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Wall Street Analyst Weigh In

COOP has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler upped their target price on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Barclays upped their target price on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Finally, Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Mr. Cooper Group currently has an average rating of “Moderate Buy” and a consensus target price of $112.22.

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $94.49, for a total value of $2,834,700.00. Following the sale, the chief executive officer now owns 758,821 shares of the company’s stock, valued at $71,700,996.29. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.33% of the company’s stock.

Mr. Cooper Group Stock Performance

Shares of COOP opened at $110.51 on Friday. The stock has a market capitalization of $7.07 billion, a PE ratio of 10.86, a P/E/G ratio of 0.32 and a beta of 1.43. Mr. Cooper Group Inc. has a 1 year low of $70.01 and a 1 year high of $110.97. The company’s 50-day simple moving average is $100.78 and its 200-day simple moving average is $95.74.

Mr. Cooper Group (NASDAQ:COOP) last issued 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%. On average, sell-side analysts predict that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

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.