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.
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