Comerica Bank Has $2.22 Million Stock Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Comerica Bank lessened its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 2.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 23,167 shares of the company’s stock after selling 646 shares during the period. Comerica Bank’s holdings in Mr. Cooper Group were worth $2,224,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of Mr. Cooper Group by 9,175.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company’s stock valued at $472,000 after acquiring an additional 4,863 shares during the period. KLP Kapitalforvaltning AS bought a new position in Mr. Cooper Group in the 4th quarter valued at about $1,603,000. JPMorgan Chase & Co. lifted its holdings in shares of Mr. Cooper Group by 15.5% in the fourth quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company’s stock valued at $61,846,000 after purchasing an additional 86,510 shares in the last quarter. Spire Wealth Management bought a new position in Mr. Cooper Group during the 4th quarter valued at $1,480,000. Finally, F M Investments LLC purchased a new position in Mr. Cooper Group during the fourth quarter worth about $313,000. 89.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JMP Securities reissued a “market outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, February 13th. UBS Group upped their price objective on Mr. Cooper Group from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods raised their target price on 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. Piper Sandler cut Mr. Cooper Group from an “overweight” rating to a “neutral” rating and upped their price target for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Finally, Citizens Jmp lowered Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.14.

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 698,821 shares in the company, valued at $78,435,669.04. This represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.73% of the stock is owned by corporate insiders.

Mr. Cooper Group Price Performance

Mr. Cooper Group stock opened at $119.11 on Friday. The firm has a market capitalization of $7.62 billion, a P/E ratio of 11.70, a PEG ratio of 0.32 and a beta of 1.06. Mr. Cooper Group Inc. has a one year low of $78.20 and a one year high of $137.60. The business has a fifty day moving average price of $112.67 and a 200-day moving average price of $103.89.

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

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.