Mr. Cooper Group Inc $COOP Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its position in Mr. Cooper Group Inc (NASDAQ:COOP) by 24.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,011 shares of the company’s stock after selling 668 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Mr. Cooper Group were worth $300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of COOP. GAMMA Investing LLC boosted its holdings in Mr. Cooper Group by 19.1% in the 1st quarter. GAMMA Investing LLC now owns 2,603 shares of the company’s stock valued at $311,000 after purchasing an additional 418 shares during the last quarter. Spire Wealth Management boosted its holdings in Mr. Cooper Group by 10.4% in the 1st quarter. Spire Wealth Management now owns 17,024 shares of the company’s stock valued at $2,036,000 after purchasing an additional 1,606 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Mr. Cooper Group by 1.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 35,779 shares of the company’s stock valued at $4,279,000 after purchasing an additional 480 shares during the last quarter. MorganRosel Wealth Management LLC boosted its holdings in Mr. Cooper Group by 1.2% in the 1st quarter. MorganRosel Wealth Management LLC now owns 13,544 shares of the company’s stock valued at $1,620,000 after purchasing an additional 154 shares during the last quarter. Finally, Fedenia Advisers LLC acquired a new position in Mr. Cooper Group in the 1st quarter valued at about $459,000. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 sale, the chief executive officer directly owned 633,187 shares of the company’s stock, valued at $115,512,304.41. This represents a 4.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.73% of the stock is currently owned by insiders.

Mr. Cooper Group Price Performance

Shares of COOP opened at $210.79 on Friday. Mr. Cooper Group Inc has a fifty-two week low of $84.68 and a fifty-two week high of $234.73. The firm’s 50 day moving average price is $206.37 and its 200 day moving average price is $162.87. The company has a market cap of $13.49 billion, a P/E ratio of 24.12 and a beta of 1.08.

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

Mr. Cooper Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on COOP shares. Jefferies Financial Group upped their price objective on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a “hold” rating in a report on Tuesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Mr. Cooper Group in a report on Saturday, September 27th. UBS Group set a $176.00 price objective on shares of Mr. Cooper Group in a report on Tuesday, August 5th. 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. Finally, Piper Sandler upped their price objective on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a “neutral” rating in a report on Tuesday, July 1st. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $149.67.

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.