Keefe, Bruyette & Woods Reiterates “Outperform” Rating for Mr. Cooper Group (NASDAQ:COOP)

Keefe, Bruyette & Woods reiterated their outperform rating on shares of Mr. Cooper Group (NASDAQ:COOP) in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a $92.00 price target on the stock, up from their prior price target of $86.00.

Several other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Mr. Cooper Group in a report on Wednesday, January 10th. They set a buy rating and a $88.00 price objective on the stock. Jefferies Financial Group boosted their price objective on Mr. Cooper Group from $74.00 to $80.00 and gave the company a hold rating in a report on Friday, April 19th. Barclays lifted their price target on shares of Mr. Cooper Group from $80.00 to $85.00 and gave the company an overweight rating in a research report on Tuesday, April 9th. Finally, Wedbush raised their price objective on Mr. Cooper Group from $85.00 to $100.00 and gave the company an outperform rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $82.22.

Mr. Cooper Group Stock Down 3.6 %

COOP stock opened at $78.76 on Thursday. The company’s fifty day simple moving average is $74.91 and its 200 day simple moving average is $66.39. Mr. Cooper Group has a 12-month low of $41.74 and a 12-month high of $81.98. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 8.25 and a beta of 1.38.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.17. The business had revenue of $564.00 million during the quarter, compared to the consensus estimate of $498.15 million. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%. Research analysts expect that Mr. Cooper Group will post 9.01 earnings per share for the current year.

Insider Activity at Mr. Cooper Group

In other news, President Michael S. Weinbach acquired 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average price of $71.16 per share, for a total transaction of $1,209,720.00. Following the completion of the purchase, the president now owns 17,000 shares in the company, valued at $1,209,720. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, President Michael S. Weinbach bought 17,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were purchased at an average price of $71.16 per share, for a total transaction of $1,209,720.00. Following the completion of the transaction, the president now directly owns 17,000 shares in the company, valued at approximately $1,209,720. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $67.56, for a total value of $1,689,000.00. Following the sale, the chief executive officer now owns 391,051 shares in the company, valued at approximately $26,419,405.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,000 shares of company stock worth $5,431,500. Insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in COOP. Vanguard Group Inc. increased its stake in Mr. Cooper Group by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock valued at $496,608,000 after acquiring an additional 391,780 shares during the last quarter. Wellington Management Group LLP increased its stake in Mr. Cooper Group by 1.5% in the fourth quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock valued at $111,674,000 after acquiring an additional 25,351 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Mr. Cooper Group by 12.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,593,780 shares of the company’s stock valued at $103,787,000 after acquiring an additional 182,014 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Mr. Cooper Group by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 768,848 shares of the company’s stock valued at $50,067,000 after acquiring an additional 37,823 shares during the last quarter. Finally, Norges Bank bought a new position in Mr. Cooper Group in the fourth quarter valued at $47,104,000. Institutional investors own 89.82% of the company’s stock.

About Mr. Cooper Group

Mr. Cooper Group Inc engages in non-banking services for mortgage loans the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.