Truist Financial Corp Buys 1,972 Shares of Mr. Cooper Group Inc $COOP

Truist Financial Corp grew its stake in Mr. Cooper Group Inc (NASDAQ:COOP) by 42.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,614 shares of the company’s stock after acquiring an additional 1,972 shares during the period. Truist Financial Corp’s holdings in Mr. Cooper Group were worth $987,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Invesco Ltd. grew its holdings in shares of Mr. Cooper Group by 11.8% in the 1st quarter. Invesco Ltd. now owns 2,013,536 shares of the company’s stock valued at $240,819,000 after acquiring an additional 213,167 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Mr. Cooper Group by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 371,551 shares of the company’s stock valued at $44,437,000 after acquiring an additional 7,799 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Mr. Cooper Group by 42.4% in the 1st quarter. Public Sector Pension Investment Board now owns 227,117 shares of the company’s stock valued at $27,163,000 after acquiring an additional 67,657 shares in the last quarter. Lodge Hill Capital LLC grew its holdings in shares of Mr. Cooper Group by 27.8% in the 1st quarter. Lodge Hill Capital LLC now owns 213,000 shares of the company’s stock valued at $25,475,000 after acquiring an additional 46,360 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Mr. Cooper Group in the 1st quarter valued at about $24,037,000. Institutional investors own 89.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COOP. Piper Sandler raised their target price on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the company a “neutral” rating in a research note on Tuesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Mr. Cooper Group in a research note on Saturday, September 27th. Jefferies Financial Group raised their target price on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the company a “hold” rating in a research note on Tuesday, July 22nd. UBS Group set a $176.00 target price on shares of Mr. Cooper Group in a research note on Tuesday, August 5th. Finally, Barclays raised their target price on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $140.38.

Mr. Cooper Group Stock Performance

Shares of COOP stock opened at $210.79 on Tuesday. The stock has a market cap of $13.49 billion, a P/E ratio of 24.12 and a beta of 1.08. The stock has a 50 day simple moving average of $202.88 and a 200 day simple moving average of $158.77. Mr. Cooper Group Inc has a 1 year low of $84.68 and a 1 year high of $234.73.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.28 by ($0.15). The company had revenue of $608.00 million during the quarter, compared to the consensus estimate of $669.23 million. Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.10 earnings per share. Analysts forecast that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Mr. Cooper Group Announces Dividend

The business also recently declared a special dividend, which was paid on Tuesday, October 7th. Investors of record on Monday, September 29th were paid a $0.01 dividend. The ex-dividend date was Monday, September 29th. Mr. Cooper Group’s payout ratio is 22.88%.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $182.43, for a total value of $5,472,900.00. Following the completion of the sale, the chief executive officer directly owned 633,187 shares in the company, valued at approximately $115,512,304.41. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.73% of the company’s stock.

Mr. Cooper Group Company 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.