Principal Financial Group Inc. Sells 9,044 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Principal Financial Group Inc. lowered its stake in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 2.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 364,303 shares of the company's stock after selling 9,044 shares during the quarter. Principal Financial Group Inc. owned approximately 0.56% of Mr. Cooper Group worth $29,592,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Natixis Advisors L.P. grew its holdings in shares of Mr. Cooper Group by 2.4% during the fourth quarter. Natixis Advisors L.P. now owns 19,065 shares of the company's stock worth $1,241,000 after buying an additional 449 shares in the last quarter. LSV Asset Management raised its holdings in Mr. Cooper Group by 30.8% in the 4th quarter. LSV Asset Management now owns 133,000 shares of the company's stock valued at $8,661,000 after acquiring an additional 31,300 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Mr. Cooper Group by 5.2% in the 4th 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. Counterpoint Mutual Funds LLC lifted its stake in shares of Mr. Cooper Group by 49.9% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 6,134 shares of the company's stock worth $399,000 after purchasing an additional 2,041 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Mr. Cooper Group by 2.8% during the fourth quarter. Teacher Retirement System of Texas now owns 44,546 shares of the company's stock worth $2,901,000 after purchasing an additional 1,225 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company's stock.

Insider Activity

In other news, CEO Jesse K. Bray sold 25,000 shares of the company's stock in a transaction on Friday, June 28th. The shares were sold at an average price of $80.93, for a total value of $2,023,250.00. Following the completion of the transaction, the chief executive officer now directly owns 259,631 shares in the company, valued at $21,011,936.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.33% of the company's stock.

Mr. Cooper Group Price Performance

NASDAQ COOP traded up $0.95 during trading hours on Monday, hitting $93.81. The company had a trading volume of 243,900 shares, compared to its average volume of 442,205. The firm's 50 day moving average is $86.93 and its 200 day moving average is $81.24. Mr. Cooper Group Inc. has a fifty-two week low of $52.46 and a fifty-two week high of $95.74. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 9.82 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported $2.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.19. The business had revenue of $583.00 million during the quarter, compared to analyst estimates of $552.09 million. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.66 earnings per share. On average, equities analysts anticipate that Mr. Cooper Group Inc. will post 9.86 EPS for the current year.

Wall Street Analyst Weigh In

COOP has been the subject of several analyst reports. Wedbush upped their target price on Mr. Cooper Group from $100.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Piper Sandler increased their price objective on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Keefe, Bruyette & Woods downgraded shares of Mr. Cooper Group from an "outperform" rating to a "market perform" rating and set a $95.00 target price for the company. in a report on Monday, July 22nd. Finally, Barclays upped their price target on shares of Mr. Cooper Group from $94.00 to $103.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Mr. Cooper Group has a consensus rating of "Moderate Buy" and a consensus target price of $91.88.

About Mr. Cooper Group

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.