Principal Financial Group Inc. Trims Stock Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Principal Financial Group Inc. cut its position in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350,579 shares of the company's stock after selling 13,724 shares during the quarter. Principal Financial Group Inc. owned about 0.55% of Mr. Cooper Group worth $32,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in COOP. Allspring Global Investments Holdings LLC boosted its stake in shares of Mr. Cooper Group by 8,275.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company's stock valued at $27,000 after purchasing an additional 331 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Mr. Cooper Group by 15.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,622 shares of the company's stock valued at $1,188,000 after buying an additional 1,961 shares in the last quarter. F M Investments LLC purchased a new position in shares of Mr. Cooper Group in the 2nd quarter worth about $202,000. Hantz Financial Services Inc. bought a new position in shares of Mr. Cooper Group in the second quarter worth approximately $21,609,000. Finally, Picton Mahoney Asset Management bought a new position in Mr. Cooper Group in the second quarter valued at about $3,833,000. Institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Stock Performance

COOP stock traded up $1.32 during midday trading on Tuesday, reaching $94.92. The company's stock had a trading volume of 174,089 shares, compared to its average volume of 450,775. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 12.26 and a beta of 1.41. Mr. Cooper Group Inc. has a 1 year low of $61.38 and a 1 year high of $103.05. The stock has a fifty day simple moving average of $95.50 and a two-hundred day simple moving average of $90.55.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $548.09 million. During the same quarter in the previous year, the firm posted $2.79 earnings per share. The company's revenue was up 32.8% on a year-over-year basis. As a group, analysts forecast that Mr. Cooper Group Inc. will post 10.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the transaction, the chief executive officer now directly owns 788,821 shares of the company's stock, valued at approximately $76,973,153.18. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on COOP. Wedbush reaffirmed an "outperform" rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Compass Point increased 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 report on Thursday, October 24th. Finally, Barclays boosted their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $100.57.

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.