Keefe, Bruyette & Woods Increases Mr. Cooper Group (NASDAQ:COOP) Price Target to $95.00

Mr. Cooper Group (NASDAQ:COOP) had its price objective lifted by stock analysts at Keefe, Bruyette & Woods from $92.00 to $95.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 12.89% from the stock’s previous close.

Several other brokerages have also recently weighed in on COOP. Barclays raised their target price on Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Jefferies Financial Group boosted their target price on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Wedbush upped their price target on Mr. Cooper Group from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.50.

Mr. Cooper Group Price Performance

Mr. Cooper Group stock opened at $84.15 on Wednesday. Mr. Cooper Group has a 12-month low of $50.82 and a 12-month high of $85.17. The stock has a market capitalization of $5.45 billion, a PE ratio of 8.81 and a beta of 1.39. The firm has a 50 day simple moving average of $82.02 and a 200-day simple moving average of $75.11.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.17. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%. The firm had revenue of $564.00 million during the quarter, compared to the consensus estimate of $498.15 million. On average, analysts forecast that Mr. Cooper Group will post 9.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $78.79, for a total value of $1,969,750.00. Following the completion of the sale, the chief executive officer now owns 309,631 shares of the company’s stock, valued at $24,395,826.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Mr. Cooper Group news, CEO Michael R. Rawls sold 27,000 shares of Mr. Cooper Group stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total transaction of $2,218,860.00. Following the completion of the sale, the chief executive officer now owns 57,623 shares of the company’s stock, valued at approximately $4,735,458.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $78.79, for a total transaction of $1,969,750.00. Following the completion of the transaction, the chief executive officer now directly owns 309,631 shares in the company, valued at $24,395,826.49. The disclosure for this sale can be found here. Insiders have sold a total of 102,000 shares of company stock valued at $8,247,360 in the last three months. 2.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of COOP. Vanguard Group Inc. lifted its holdings in shares of Mr. Cooper Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,668,898 shares of the company’s stock valued at $597,791,000 after buying an additional 42,860 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Mr. Cooper Group by 1.5% during the 4th quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock worth $111,674,000 after purchasing an additional 25,351 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Mr. Cooper Group by 12.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,593,780 shares of the company’s stock valued at $103,787,000 after purchasing an additional 182,014 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 37,823 shares during the last quarter. Finally, Norges Bank bought a new stake in Mr. Cooper Group in the fourth quarter worth $47,104,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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.