Teachers Retirement System of The State of Kentucky Increases Stake in Mr. Cooper Group Inc. (NASDAQ:COOP)

Teachers Retirement System of The State of Kentucky boosted its position in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 97.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 45,896 shares of the company's stock after acquiring an additional 22,659 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.07% of Mr. Cooper Group worth $4,406,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in shares of Mr. Cooper Group by 5.2% during the 4th quarter. Invesco Ltd. now owns 1,800,369 shares of the company's stock valued at $172,853,000 after buying an additional 89,544 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Mr. Cooper Group by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company's stock worth $109,346,000 after acquiring an additional 343,243 shares during the period. Norges Bank purchased a new position in shares of Mr. Cooper Group in the fourth quarter valued at $72,984,000. JPMorgan Chase & Co. raised its stake in shares of Mr. Cooper Group by 15.5% during the 4th quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company's stock valued at $61,846,000 after purchasing an additional 86,510 shares during the period. Finally, Veridan Wealth LLC bought a new stake in shares of Mr. Cooper Group during the 4th quarter valued at $56,244,000. 89.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares of the company's stock, valued at approximately $78,435,669.04. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.33% of the stock is currently owned by corporate insiders.

Mr. Cooper Group Stock Performance

Mr. Cooper Group stock opened at $112.07 on Wednesday. Mr. Cooper Group Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $137.60. The firm's fifty day moving average price is $110.84 and its 200-day moving average price is $102.04. The stock has a market cap of $7.17 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 0.32 and a beta of 1.17.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, beating analysts' consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. On average, analysts predict that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Piper Sandler lowered Mr. Cooper Group from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $125.00 to $143.00 in a report on Friday, April 4th. JMP Securities reaffirmed a "market outperform" rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Keefe, Bruyette & Woods upped their target price on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Barclays raised their price target on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Finally, Citizens Jmp cut shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.00.

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.

Want to see what other hedge funds are holding COOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.