Tiptree Advisors LLC Invests $5.63 Million in Mr. Cooper Group Inc $COOP

Tiptree Advisors LLC purchased a new position in Mr. Cooper Group Inc (NASDAQ:COOP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,700 shares of the company’s stock, valued at approximately $5,625,000. Mr. Cooper Group makes up 4.4% of Tiptree Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Tiptree Advisors LLC owned 0.06% of Mr. Cooper Group as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Mr. Cooper Group by 19.1% in the first quarter. GAMMA Investing LLC now owns 2,603 shares of the company’s stock valued at $311,000 after buying an additional 418 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Mr. Cooper Group in the first quarter valued at $320,000. Spire Wealth Management lifted its holdings in shares of Mr. Cooper Group by 10.4% during the first quarter. Spire Wealth Management now owns 17,024 shares of the company’s stock valued at $2,036,000 after purchasing an additional 1,606 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Mr. Cooper Group by 1.4% during the first quarter. Illinois Municipal Retirement Fund now owns 35,779 shares of the company’s stock valued at $4,279,000 after purchasing an additional 480 shares during the last quarter. Finally, MorganRosel Wealth Management LLC lifted its holdings in shares of Mr. Cooper Group by 1.2% during the first quarter. MorganRosel Wealth Management LLC now owns 13,544 shares of the company’s stock valued at $1,620,000 after purchasing an additional 154 shares during the last quarter. Institutional investors own 89.82% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the completion of the sale, the chief executive officer owned 633,187 shares in the company, valued at $115,512,304.41. This represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.73% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

COOP has been the topic of several recent analyst reports. Barclays upped their price target on Mr. Cooper Group from $147.00 to $156.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Jefferies Financial Group increased their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the company a “hold” rating in a report on Tuesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Mr. Cooper Group in a report on Saturday, September 27th. Piper Sandler increased their price objective on Mr. Cooper Group from $143.00 to $158.00 and gave the company a “neutral” rating in a report on Tuesday, July 1st. Finally, UBS Group set a $176.00 price objective on Mr. Cooper Group in a report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Mr. Cooper Group has an average rating of “Moderate Buy” and an average target price of $140.38.

Mr. Cooper Group Price Performance

Shares of NASDAQ:COOP opened at $210.79 on Wednesday. The business has a 50 day moving average price of $205.86 and a 200 day moving average price of $161.97. Mr. Cooper Group Inc has a twelve month low of $84.68 and a twelve month high of $234.73. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 24.12 and a beta of 1.08.

Mr. Cooper Group (NASDAQ:COOP) last announced its earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.28 by ($0.15). Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The business had revenue of $608.00 million for the quarter, compared to the consensus estimate of $669.23 million. During the same quarter in the previous year, the company earned $3.10 EPS. Mr. Cooper Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts anticipate that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Mr. Cooper Group Dividend Announcement

The firm also recently announced a special dividend, which was paid on Tuesday, October 7th. Investors of record on Monday, September 29th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, September 29th. Mr. Cooper Group’s dividend payout ratio is presently 22.88%.

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.