State Street Corp Raises Stake in Encore Capital Group Inc (ECPG)

State Street Corp raised its stake in Encore Capital Group Inc (NASDAQ:ECPG) by 6.4% during the first quarter, Holdings Channel reports. The fund owned 549,437 shares of the asset manager’s stock after buying an additional 33,201 shares during the period. State Street Corp’s holdings in Encore Capital Group were worth $16,925,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 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 valued at $69,313,000 after buying an additional 161,788 shares during the last quarter. Vanguard Group Inc. increased its position in Encore Capital Group by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,128,159 shares of the asset manager’s stock valued at $65,547,000 after buying an additional 169,254 shares during the last quarter. 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 valued at $18,992,000 after buying an additional 264,085 shares during the last quarter. Norges Bank acquired a new position in Encore Capital Group during the fourth quarter valued at $8,662,000. Finally, Principal Financial Group Inc. increased its position in Encore Capital Group by 3.9% in the first quarter. Principal Financial Group Inc. now owns 178,999 shares of the asset manager’s stock valued at $5,513,000 after buying an additional 6,738 shares during the last quarter.

Encore Capital Group Inc (ECPG) traded down 0.64% on Friday, reaching $38.80. 26,203 shares of the company’s stock traded hands. Encore Capital Group Inc has a 12 month low of $17.66 and a 12 month high of $43.65. The company has a market cap of $998.71 million, a PE ratio of 15.90 and a beta of 1.76. The firm’s 50 day moving average price is $40.39 and its 200 day moving average price is $35.74.

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 the consensus estimate of $0.82 by $0.05. Encore Capital Group had a return on equity of 12.38% and a net margin of 6.28%. The firm had revenue of $290.92 million during the quarter, compared to analyst estimates of $275.18 million. During the same quarter in the previous year, the firm earned $1.29 EPS. Encore Capital Group’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts expect that Encore Capital Group Inc will post $3.69 EPS for the current fiscal year.

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Several research analysts have weighed in on ECPG shares. Zacks Investment Research upgraded shares of Encore Capital Group from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Northland Securities restated a “hold” rating and set a $44.00 price objective on shares of Encore Capital Group in a report on Friday, August 4th. Keefe, Bruyette & Woods restated a “buy” rating and set a $49.50 price objective on shares of Encore Capital Group in a report on Thursday, August 10th. Finally, BidaskClub downgraded shares of Encore Capital Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus 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.

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

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