Raymond James Financial Inc. Acquires New Shares in Mr. Cooper Group Inc. (NASDAQ:COOP)

Raymond James Financial Inc. bought a new stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 42,508 shares of the company’s stock, valued at approximately $4,081,000.

Several other large investors have also modified their holdings of COOP. Williamson Legacy Group LLC lifted its position in Mr. Cooper Group by 1.1% during the fourth quarter. Williamson Legacy Group LLC now owns 10,835 shares of the company’s stock valued at $1,040,000 after acquiring an additional 118 shares during the last quarter. Dakota Wealth Management increased its position in shares of Mr. Cooper Group by 0.7% during the fourth quarter. Dakota Wealth Management now owns 27,695 shares of the company’s stock worth $2,659,000 after purchasing an additional 181 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Mr. Cooper Group by 38.8% during the 4th quarter. Blue Trust Inc. now owns 794 shares of the company’s stock valued at $76,000 after purchasing an additional 222 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Mr. Cooper Group by 3.8% in the 4th quarter. CIBC Asset Management Inc now owns 6,366 shares of the company’s stock worth $611,000 after purchasing an additional 232 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Mr. Cooper Group by 3.6% in the 4th quarter. QRG Capital Management Inc. now owns 7,644 shares of the company’s stock worth $734,000 after purchasing an additional 263 shares in the last quarter. Institutional investors own 89.82% of the company’s stock.

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on 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 owns 698,821 shares of the company’s stock, valued at approximately $78,435,669.04. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.33% of the company’s stock.

Mr. Cooper Group Stock Performance

NASDAQ:COOP opened at $107.95 on Thursday. The firm’s fifty day moving average is $105.90 and its two-hundred day moving average is $98.39. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.32 and a beta of 1.49. Mr. Cooper Group Inc. has a one year low of $74.49 and a one year high of $114.05.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. As a group, equities research analysts predict that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on COOP shares. Barclays upped their target price on Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler upped their price objective on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. UBS Group lifted their target price on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Citizens Jmp upgraded shares of Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $112.22.

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.