Principal Financial Group Inc. Trims Stake in Mr. Cooper Group Inc. (NASDAQ:COOP)

Principal Financial Group Inc. trimmed its holdings in shares of Mr. Cooper Group Inc. (NASDAQ:COOP – Get Rating) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 431,148 shares of the company’s stock after selling 40,722 shares during the quarter. Principal Financial Group Inc. owned about 0.61% of Mr. Cooper Group worth $17,302,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. MAI Capital Management grew its position in Mr. Cooper Group by 2.5% during the fourth quarter. MAI Capital Management now owns 9,503 shares of the company’s stock worth $381,000 after buying an additional 230 shares in the last quarter. Citigroup Inc. lifted its stake in Mr. Cooper Group by 33.9% during the fourth quarter. Citigroup Inc. now owns 57,534 shares of the company’s stock worth $2,309,000 after purchasing an additional 14,567 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Mr. Cooper Group by 41.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,776 shares of the company’s stock worth $794,000 after purchasing an additional 5,791 shares during the last quarter. UBS Group AG lifted its stake in Mr. Cooper Group by 405.5% during the fourth quarter. UBS Group AG now owns 33,869 shares of the company’s stock worth $1,359,000 after purchasing an additional 27,169 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Mr. Cooper Group by 74.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 128,872 shares of the company’s stock worth $5,172,000 after purchasing an additional 54,806 shares during the last quarter. 83.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COOP. Wedbush reaffirmed an “outperform” rating on shares of Mr. Cooper Group in a research note on Monday, February 13th. Barclays boosted their target price on Mr. Cooper Group from $41.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, February 13th. Finally, Credit Suisse Group boosted their price target on Mr. Cooper Group from $57.00 to $59.00 in a report on Friday, May 12th.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 21,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $38.88, for a total value of $816,480.00. Following the transaction, the chief executive officer now directly owns 624,871 shares of the company’s stock, valued at approximately $24,294,984.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 63,000 shares of company stock valued at $2,783,550. 3.11% of the stock is owned by corporate insiders.

Mr. Cooper Group Stock Up 0.8 %

Mr. Cooper Group stock opened at $45.92 on Tuesday. The company has a market capitalization of $3.12 billion, a P/E ratio of 11.17 and a beta of 1.56. Mr. Cooper Group Inc. has a twelve month low of $35.81 and a twelve month high of $48.50. The stock’s 50 day moving average is $42.73 and its 200 day moving average is $43.47.

Mr. Cooper Group Company Profile

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Mr. Cooper Group, Inc engages in the provision of residential loan services. It operated through the following segments: Servicing, and Originations. The Servicing segment consists of collecting loan payments, remitting principal and interest payments to investors, managing escrow funds for the payment of mortgage-related expenses, such as taxes and insurance, performing loss mitigation activities on behalf of investors and otherwise administering mortgage loan servicing portfolio.