Lazard Asset Management LLC Cuts Stake in Mr. Cooper Group Inc. (NASDAQ:COOP)

Lazard Asset Management LLC decreased its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP) by 57.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,959 shares of the company’s stock after selling 20,177 shares during the period. Lazard Asset Management LLC’s holdings in Mr. Cooper Group were worth $1,435,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Norges Bank purchased a new stake in Mr. Cooper Group during the 4th quarter valued at $72,984,000. 140 Summer Partners LP purchased a new stake in Mr. Cooper Group during the 4th quarter valued at $69,959,000. Veridan Wealth LLC purchased a new stake in Mr. Cooper Group during the 4th quarter valued at $56,244,000. Wellington Management Group LLP boosted its position in Mr. Cooper Group by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock valued at $109,346,000 after buying an additional 343,243 shares during the period. Finally, Cercano Management LLC boosted its position in Mr. Cooper Group by 66.5% during the 4th quarter. Cercano Management LLC now owns 790,753 shares of the company’s stock valued at $75,920,000 after buying an additional 315,801 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Trading Up 1.6%

NASDAQ:COOP opened at $131.81 on Monday. The company has a 50-day moving average price of $115.07 and a 200-day moving average price of $105.59. Mr. Cooper Group Inc. has a 12 month low of $78.20 and a 12 month high of $138.35. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 0.32 and a beta of 1.06.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.16. The company had revenue of $560.00 million during the quarter, compared to analyst estimates of $620.57 million. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. Mr. Cooper Group’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $2.73 EPS. Equities analysts forecast that Mr. Cooper Group Inc. will post 13.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COOP has been the subject of several analyst reports. Citizens Jmp cut shares of Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Barclays increased their price target on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. JMP Securities reissued a “market outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, February 13th. UBS Group raised their target price on shares of Mr. Cooper Group from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Mr. Cooper Group has an average rating of “Moderate Buy” and a consensus target price of $131.14.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $112.24, for a total value of $3,367,200.00. Following the completion of the transaction, the chief executive officer now directly owns 698,821 shares in the company, valued at $78,435,669.04. This trade represents a 4.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.73% of the stock is owned by company insiders.

About Mr. Cooper Group

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.