Ameriprise Financial Inc. lifted its holdings in shares of Encore Capital Group Inc (NASDAQ:ECPG) by 13.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 839,303 shares of the asset manager’s stock after buying an additional 102,413 shares during the quarter. Ameriprise Financial Inc. owned about 3.26% of Encore Capital Group worth $33,696,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Mason Street Advisors LLC grew its position in shares of Encore Capital Group by 7.3% during the 1st 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 during the period. State of Alaska Department of Revenue grew its position in shares of Encore Capital Group by 79.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,672 shares of the asset manager’s stock worth $187,000 after buying an additional 2,072 shares during the period. Nisa Investment Advisors LLC acquired a new stake in shares of Encore Capital Group during the 2nd quarter worth approximately $201,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Encore Capital Group during the 1st quarter worth approximately $212,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Encore Capital Group during the 1st quarter worth approximately $232,000.
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Several brokerages have recently commented on ECPG. ValuEngine upgraded shares of Encore Capital Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods reissued a “buy” rating and set a $49.50 price objective on shares of Encore Capital Group in a research note on Thursday, August 10th. Zacks Investment Research raised shares of Encore Capital Group from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Northland Securities reissued a “hold” rating and set a $44.00 price objective on shares of Encore Capital Group in a research note on Friday, August 4th. Finally, BidaskClub lowered shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Encore Capital Group has a consensus rating of “Hold” and an average target price of $40.30.
Encore Capital Group Inc (NASDAQ:ECPG) opened at 41.90 on Monday. The company’s 50-day moving average is $40.14 and its 200 day moving average is $36.86. Encore Capital Group Inc has a 1-year low of $17.66 and a 1-year high of $43.65. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 17.17 and a beta of 1.77.
Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. The firm had revenue of $290.92 million for the quarter, compared to analysts’ expectations of $275.18 million. Encore Capital Group had a return on equity of 12.38% and a net margin of 6.28%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 EPS. On average, equities analysts predict that Encore Capital Group Inc will post $3.69 EPS for the current fiscal year.
Encore Capital Group Profile
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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