US Bancorp DE Has $292,000 Stake in Encore Capital Group Inc (ECPG)
US Bancorp DE continued to hold its position in shares of Encore Capital Group Inc (NASDAQ:ECPG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,266 shares of the asset manager’s stock at the end of the second quarter. US Bancorp DE’s holdings in Encore Capital Group were worth $292,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of ECPG. Mason Street Advisors LLC boosted 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. State of Alaska Department of Revenue boosted its position in shares of Encore Capital Group by 79.7% in the second 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 in the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Encore Capital Group during the second quarter worth about $201,000. UBS Asset Management Americas Inc. purchased a new position in shares of Encore Capital Group during the first quarter worth about $212,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Encore Capital Group during the first quarter worth about $232,000.
Encore Capital Group Inc (ECPG) traded up 0.39% during midday trading on Tuesday, reaching $39.00. The company had a trading volume of 18,979 shares. The company has a 50-day moving average of $40.33 and a 200-day moving average of $35.92. The stock has a market capitalization of $1.00 billion, a PE ratio of 15.98 and a beta of 1.76. Encore Capital Group Inc has a 12-month low of $17.66 and a 12-month high of $43.65.
Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $290.92 million for the quarter, compared to analyst estimates of $275.18 million. During the same period in the previous year, the company posted $1.29 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. On average, analysts predict that Encore Capital Group Inc will post $3.69 EPS for the current fiscal year.
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A number of equities analysts recently issued reports on the company. Zacks Investment Research cut Encore Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, June 8th. BidaskClub cut Encore Capital Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Keefe, Bruyette & Woods assumed coverage on Encore Capital Group in a report on Wednesday, May 24th. They issued an “outperform” rating and a $45.00 target price on the stock. Finally, Northland Securities reiterated a “hold” rating and issued a $44.00 target price on shares of Encore Capital Group in a report on Friday, August 4th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $37.58.
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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