Encore Capital Group, Inc. (NASDAQ:ECPG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in Encore Capital Group, Inc. (NASDAQ:ECPG) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,665 shares of the asset manager’s stock after selling 5,152 shares during the period. Principal Financial Group Inc.’s holdings in Encore Capital Group were worth $5,278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Huntington National Bank boosted its stake in shares of Encore Capital Group by 8,700.0% in the 3rd quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock valued at $25,000 after buying an additional 522 shares during the period. Meeder Asset Management Inc. purchased a new position in Encore Capital Group in the second quarter worth approximately $33,000. nVerses Capital LLC grew its holdings in Encore Capital Group by 450.0% during the 2nd quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock worth $46,000 after acquiring an additional 900 shares in the last quarter. KBC Group NV increased its position in shares of Encore Capital Group by 54.9% in the 3rd quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock valued at $65,000 after purchasing an additional 484 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Encore Capital Group in the 3rd quarter valued at $156,000.

Insider Activity at Encore Capital Group

In other news, Director Laura Olle sold 1,340 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total value of $65,874.40. Following the transaction, the director now owns 32,381 shares of the company’s stock, valued at approximately $1,591,849.96. The trade was a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.63% of the stock is owned by insiders.

Encore Capital Group Stock Up 1.0 %

ECPG opened at $47.77 on Thursday. Encore Capital Group, Inc. has a one year low of $39.64 and a one year high of $54.55. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $1.13 billion, a P/E ratio of -6.09 and a beta of 1.55. The business’s 50-day simple moving average is $48.18 and its 200-day simple moving average is $47.00.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings results on Wednesday, November 6th. The asset manager reported $1.26 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.22). The firm had revenue of $367.07 million for the quarter, compared to analyst estimates of $360.70 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the firm earned $0.79 EPS. Analysts anticipate that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. StockNews.com upgraded Encore Capital Group from a “hold” rating to a “buy” rating in a report on Friday, November 29th. Northland Securities boosted their target price on Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Finally, JMP Securities upped their price target on Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $65.00.

About Encore Capital Group

Encore Capital Group, Inc, a specialty finance company, provides debt recovery solutions and other related services for consumers across financial assets worldwide. The company purchases portfolios of defaulted consumer receivables at deep discounts to face value, as well as manages them by working with individuals as they repay their obligations and works toward financial recovery.