First Trust Advisors LP grew its holdings in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 34.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,885 shares of the asset manager’s stock after acquiring an additional 13,344 shares during the period. First Trust Advisors LP owned 0.20% of Encore Capital Group worth $2,184,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of ECPG. Janney Capital Management LLC bought a new position in shares of Encore Capital Group during the 3rd quarter worth about $217,000. Convergence Investment Partners LLC bought a new position in shares of Encore Capital Group during the 4th quarter worth about $285,000. Mackenzie Financial Corp boosted its position in shares of Encore Capital Group by 16.8% during the 3rd quarter. Mackenzie Financial Corp now owns 7,934 shares of the asset manager’s stock worth $351,000 after purchasing an additional 1,140 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Encore Capital Group during the 4th quarter worth about $354,000. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of Encore Capital Group by 59.7% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 8,880 shares of the asset manager’s stock worth $393,000 after purchasing an additional 3,320 shares in the last quarter.
In related news, insider Paul Grinberg sold 37,546 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $42.43, for a total value of $1,593,076.78. Following the transaction, the insider now owns 250,171 shares of the company’s stock, valued at approximately $10,614,755.53. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 114,138 shares of company stock worth $4,801,521. 8.80% of the stock is owned by insiders.
Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings results on Wednesday, February 21st. The asset manager reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.11. Encore Capital Group had a net margin of 7.01% and a return on equity of 18.70%. The business had revenue of $317.48 million for the quarter, compared to analysts’ expectations of $297.72 million. During the same quarter last year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. equities analysts expect that Encore Capital Group, Inc. will post 4.68 earnings per share for the current year.
A number of research firms have recently issued reports on ECPG. BidaskClub raised shares of Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Oppenheimer assumed coverage on shares of Encore Capital Group in a research report on Monday, January 8th. They set a “buy” rating and a $53.00 price objective on the stock. ValuEngine raised shares of Encore Capital Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research cut shares of Encore Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Encore Capital Group currently has a consensus rating of “Buy” and a consensus price target of $50.90.
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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