New York Life Investment Management LLC Takes $7.86 Million Position in Mr. Cooper Group Inc $COOP

New York Life Investment Management LLC bought a new stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 52,704 shares of the company’s stock, valued at approximately $7,864,000. New York Life Investment Management LLC owned about 0.08% of Mr. Cooper Group as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of COOP. Invesco Ltd. lifted its holdings in shares of Mr. Cooper Group by 11.8% during the first quarter. Invesco Ltd. now owns 2,013,536 shares of the company’s stock valued at $240,819,000 after purchasing an additional 213,167 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Mr. Cooper Group during the first quarter valued at $24,037,000. Credit Industriel ET Commercial purchased a new stake in shares of Mr. Cooper Group during the second quarter valued at $14,832,000. Alpine Associates Management Inc. purchased a new stake in shares of Mr. Cooper Group during the first quarter valued at $10,716,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Mr. Cooper Group by 359.1% during the first quarter. Envestnet Asset Management Inc. now owns 113,824 shares of the company’s stock valued at $13,613,000 after purchasing an additional 89,031 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COOP has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mr. Cooper Group in a report on Saturday, September 27th. Jefferies Financial Group raised their target price on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a “hold” rating in a research report on Tuesday, July 22nd. Barclays raised their target price on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Finally, UBS Group set a $176.00 target price on Mr. Cooper Group in a research report on Tuesday, August 5th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Mr. Cooper Group currently has a consensus rating of “Hold” and an average price target of $149.67.

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Tuesday, September 2nd. The stock was 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 owned 633,187 shares of the company’s stock, valued at approximately $115,512,304.41. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.73% of the company’s stock.

Mr. Cooper Group Price Performance

Shares of Mr. Cooper Group stock opened at $210.79 on Thursday. The stock has a market cap of $13.49 billion, a PE ratio of 24.12 and a beta of 1.08. Mr. Cooper Group Inc has a 12 month low of $84.68 and a 12 month high of $234.73. The business has a fifty day simple moving average of $208.16 and a 200-day simple moving average of $166.30.

Mr. Cooper Group Announces Dividend

The company 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 of this dividend was Monday, September 29th. Mr. Cooper Group’s dividend payout ratio (DPR) is presently 22.88%.

Mr. Cooper Group 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.