United Services Automobile Association Purchases Shares of 9,430 Encore Capital Group Inc (NASDAQ:ECPG)

United Services Automobile Association purchased a new position in shares of Encore Capital Group Inc (NASDAQ:ECPG) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 9,430 shares of the asset manager’s stock, valued at approximately $290,000.

Several other large investors also recently added to or reduced their stakes in the stock. Mason Street Advisors LLC increased its position in shares of Encore Capital Group by 7.3% in the first quarter. Mason Street Advisors LLC now owns 5,507 shares of the asset manager’s stock worth $170,000 after buying an additional 374 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new position in shares of Encore Capital Group during the first quarter worth about $212,000. Russell Investments Group Ltd. acquired a new position in shares of Encore Capital Group during the first quarter worth about $232,000. Louisiana State Employees Retirement System increased its position in Encore Capital Group by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 9,600 shares of the asset manager’s stock worth $296,000 after buying an additional 200 shares during the period. Finally, Arizona State Retirement System increased its position in Encore Capital Group by 1.7% in the first quarter. Arizona State Retirement System now owns 12,257 shares of the asset manager’s stock worth $378,000 after buying an additional 200 shares during the period.

Encore Capital Group Inc (NASDAQ:ECPG) traded down 1.23% during trading on Friday, hitting $40.15. The stock had a trading volume of 168,666 shares. Encore Capital Group Inc has a 1-year low of $17.66 and a 1-year high of $41.38. The stock’s 50-day moving average price is $39.58 and its 200-day moving average price is $34.33. The company has a market capitalization of $1.03 billion, a P/E ratio of 14.31 and a beta of 1.77.

Encore Capital Group (NASDAQ:ECPG) last announced its earnings results on Thursday, May 4th. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.02. The business had revenue of $271.94 million for the quarter, compared to analyst estimates of $280.93 million. Encore Capital Group had a net margin of 7.21% and a return on equity of 13.72%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 earnings per share. Analysts expect that Encore Capital Group Inc will post $3.73 earnings per share for the current year.

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ECPG has been the topic of a number of research reports. Zacks Investment Research raised Encore Capital Group from a “sell” rating to a “hold” rating and set a $42.00 price target on the stock in a research note on Thursday, May 11th. Keefe, Bruyette & Woods started coverage on Encore Capital Group in a research note on Wednesday, May 24th. They set an “outperform” rating and a $45.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $33.00.

About Encore Capital Group

Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.

Institutional Ownership by Quarter for Encore Capital Group (NASDAQ:ECPG)

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