Corebridge Financial Inc. Reduces Stock Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Corebridge Financial Inc. lowered its holdings in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,628 shares of the company’s stock after selling 3,035 shares during the quarter. Corebridge Financial Inc.’s holdings in Mr. Cooper Group were worth $3,229,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its holdings in Mr. Cooper Group by 42.9% during the third quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after buying an additional 145,767 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Mr. Cooper Group in the 3rd quarter worth $201,000. Paloma Partners Management Co bought a new position in Mr. Cooper Group in the 3rd quarter worth $878,000. Basswood Capital Management L.L.C. lifted its position in Mr. Cooper Group by 36.6% during the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock valued at $45,744,000 after purchasing an additional 132,970 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in Mr. Cooper Group during the third quarter valued at about $2,353,000. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Stock Performance

Shares of NASDAQ COOP opened at $119.60 on Tuesday. The company has a market cap of $7.61 billion, a P/E ratio of 11.75, a P/E/G ratio of 0.32 and a beta of 1.49. Mr. Cooper Group Inc. has a 52-week low of $74.49 and a 52-week high of $125.86. The firm’s fifty day moving average is $106.35 and its two-hundred day moving average is $98.93.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share (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, analysts forecast that Mr. Cooper Group Inc. will post 13.17 EPS for the current fiscal year.

Insiders Place Their Bets

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 directly owns 698,821 shares of the company’s stock, valued at $78,435,669.04. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on COOP. UBS Group raised their price objective on Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods lifted their price target on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. Barclays lifted their target price on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $112.22.

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.