Citigroup Inc. Buys 24,087 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Citigroup Inc. raised its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 37.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,249 shares of the company's stock after buying an additional 24,087 shares during the quarter. Citigroup Inc. owned about 0.14% of Mr. Cooper Group worth $8,135,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its position in Mr. Cooper Group by 11.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company's stock valued at $114,988,000 after acquiring an additional 125,055 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Mr. Cooper Group by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company's stock valued at $84,471,000 after purchasing an additional 52,001 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Mr. Cooper Group by 249.2% during the second quarter. LSV Asset Management now owns 633,260 shares of the company's stock valued at $51,440,000 after purchasing an additional 451,926 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Mr. Cooper Group by 984.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company's stock valued at $30,476,000 after purchasing an additional 354,905 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new stake in shares of Mr. Cooper Group in the 2nd quarter worth approximately $21,609,000. Institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Price Performance

Shares of Mr. Cooper Group stock traded up $0.34 during trading on Friday, hitting $98.67. 241,180 shares of the company's stock traded hands, compared to its average volume of 483,208. Mr. Cooper Group Inc. has a 1 year low of $60.01 and a 1 year high of $103.05. The business has a 50-day simple moving average of $94.29 and a 200-day simple moving average of $88.99. The stock has a market capitalization of $6.31 billion, a P/E ratio of 12.75 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The firm had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. During the same quarter last year, the firm posted $2.79 EPS. The business's quarterly revenue was up 32.8% compared to the same quarter last year. On average, equities analysts predict that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on COOP shares. Wedbush reiterated an "outperform" rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Barclays raised their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Finally, Compass Point upped their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.00.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the completion of the sale, the chief executive officer now owns 818,821 shares of the company's stock, valued at $72,391,964.61. This represents a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.33% of the stock is currently owned by insiders.

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.