Louisiana State Employees Retirement System Sells 100 Shares of Mr. Cooper Group Inc $COOP

Louisiana State Employees Retirement System decreased its stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP) by 0.3% during the second quarter, HoldingsChannel reports. The firm owned 29,900 shares of the company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Mr. Cooper Group were worth $4,461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. purchased a new stake in Mr. Cooper Group in the first quarter worth about $26,000. Allworth Financial LP grew its holdings in Mr. Cooper Group by 24.5% in the first quarter. Allworth Financial LP now owns 442 shares of the company’s stock worth $51,000 after purchasing an additional 87 shares during the period. USA Financial Formulas purchased a new stake in Mr. Cooper Group in the first quarter worth about $55,000. SVB Wealth LLC purchased a new stake in Mr. Cooper Group in the first quarter worth about $62,000. Finally, CWM LLC grew its holdings in Mr. Cooper Group by 20.7% in the first quarter. CWM LLC now owns 781 shares of the company’s stock worth $93,000 after purchasing an additional 134 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the completion of the sale, the chief executive officer directly owned 633,187 shares of the company’s stock, valued at approximately $115,512,304.41. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.73% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Mr. Cooper Group Price Performance

Shares of Mr. Cooper Group stock opened at $210.79 on Thursday. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 24.12 and a beta of 1.08. The company’s 50 day moving average is $200.41 and its 200 day moving average is $155.91. Mr. Cooper Group Inc has a twelve month low of $84.68 and a twelve month high of $234.73.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.28 by ($0.15). The company had revenue of $608.00 million for 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 firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $3.10 EPS. Sell-side analysts expect that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Mr. Cooper Group Announces Dividend

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

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.