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

Principal Financial Group Inc. lowered its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sei Investments Co. raised its position in shares of Mr. Cooper Group by 68.2% in the 1st quarter. Sei Investments Co. now owns 36,139 shares of the company's stock valued at $2,817,000 after acquiring an additional 14,652 shares during the period. Headlands Technologies LLC increased its holdings in shares of Mr. Cooper Group by 64.8% in the first quarter. Headlands Technologies LLC now owns 2,721 shares of the company's stock valued at $212,000 after purchasing an additional 1,070 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Mr. Cooper Group by 5.9% during the 1st quarter. Russell Investments Group Ltd. now owns 35,860 shares of the company's stock worth $2,795,000 after buying an additional 2,007 shares during the last quarter. US Bancorp DE lifted its stake in shares of Mr. Cooper Group by 16.0% during the 1st quarter. US Bancorp DE now owns 13,611 shares of the company's stock worth $1,061,000 after buying an additional 1,876 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Mr. Cooper Group by 7.1% during the 1st quarter. ProShare Advisors LLC now owns 13,011 shares of the company's stock worth $1,014,000 after buying an additional 867 shares during the last quarter. Institutional investors own 89.82% of the company's stock.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the completion of the transaction, the chief executive officer now owns 818,821 shares of the company's stock, valued at approximately $72,391,964.61. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.33% of the company's stock.

Mr. Cooper Group Stock Performance

NASDAQ COOP traded down $0.61 during trading on Tuesday, hitting $100.82. 324,372 shares of the company's stock traded hands, compared to its average volume of 451,529. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 13.10 and a beta of 1.40. Mr. Cooper Group Inc. has a 12-month low of $55.61 and a 12-month high of $103.05. The business has a 50 day moving average of $92.33 and a 200-day moving average of $87.35.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.30. The company had revenue of $616.00 million for the quarter, compared to analysts' expectations of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. Mr. Cooper Group's revenue for the quarter was up 32.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.79 earnings per share. On average, analysts expect that Mr. Cooper Group Inc. will post 10.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays raised their target price on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Piper Sandler boosted their price target on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Wedbush reiterated an "outperform" rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Keefe, Bruyette & Woods lowered shares of Mr. Cooper Group from an "outperform" rating to a "market perform" rating and set a $95.00 price target for the company. in a research note on Monday, July 22nd. Finally, Compass Point boosted their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.00.

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.