Encore Capital Group Inc (ECPG) Stake Raised by Vanguard Group Inc.
Vanguard Group Inc. raised its position in shares of Encore Capital Group Inc (NASDAQ:ECPG) by 8.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,128,159 shares of the asset manager’s stock after buying an additional 169,254 shares during the period. Vanguard Group Inc. owned approximately 8.31% of Encore Capital Group worth $65,547,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in Encore Capital Group during the fourth quarter worth about $8,662,000. FMR LLC increased its position in Encore Capital Group by 74.9% in the first quarter. FMR LLC now owns 616,608 shares of the asset manager’s stock worth $18,992,000 after buying an additional 264,085 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in Encore Capital Group during the first quarter worth about $6,795,000. William Blair Investment Management LLC increased its position in Encore Capital Group by 7.7% in the first quarter. William Blair Investment Management LLC now owns 2,250,437 shares of the asset manager’s stock worth $69,313,000 after buying an additional 161,788 shares in the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new position in Encore Capital Group during the first quarter worth about $1,834,000.
Encore Capital Group Inc (ECPG) traded down 1.25% during trading on Thursday, hitting $39.45. The stock had a trading volume of 95,522 shares. Encore Capital Group Inc has a 1-year low of $17.66 and a 1-year high of $43.65. The stock has a market cap of $1.02 billion, a PE ratio of 16.16 and a beta of 1.76. The firm’s 50-day moving average price is $40.45 and its 200-day moving average price is $35.71.
Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Thursday, August 3rd. The asset manager reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. The company had revenue of $290.92 million for the quarter, compared to analyst estimates of $275.18 million. Encore Capital Group had a net margin of 6.28% and a return on equity of 12.38%. Encore Capital Group’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 EPS. On average, equities research analysts predict that Encore Capital Group Inc will post $3.69 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this report on another domain, it was illegally copied and reposted in violation of US & international copyright & trademark law. The correct version of this report can be accessed at https://theolympiareport.com/2017/08/17/encore-capital-group-inc-ecpg-position-increased-by-vanguard-group-inc-updated.html.
Several research analysts have weighed in on ECPG shares. Zacks Investment Research upgraded Encore Capital Group from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Friday, June 9th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $49.50 target price on shares of Encore Capital Group in a research note on Thursday, August 10th. BidaskClub cut Encore Capital Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Northland Securities reissued a “hold” rating and issued a $44.00 price target on shares of Encore Capital Group in a report on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $37.58.
Encore Capital Group Company 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.
Receive News & Ratings for Encore Capital Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encore Capital Group Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.