Principal Financial Group Inc. Has $255,000 Stock Holdings in Credit Acceptance Co. (NASDAQ:CACC)

Principal Financial Group Inc. lessened its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 575 shares of the credit services provider’s stock after selling 36 shares during the period. Principal Financial Group Inc.’s holdings in Credit Acceptance were worth $255,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of Credit Acceptance by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 179,655 shares of the credit services provider’s stock valued at $92,455,000 after purchasing an additional 7,064 shares during the last quarter. Alfreton Capital LLP grew its stake in shares of Credit Acceptance by 22.7% during the second quarter. Alfreton Capital LLP now owns 98,128 shares of the credit services provider’s stock worth $50,505,000 after buying an additional 18,128 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Credit Acceptance by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 23,732 shares of the credit services provider’s stock worth $12,214,000 after buying an additional 951 shares during the last quarter. Mraz Amerine & Associates Inc. increased its holdings in shares of Credit Acceptance by 1.1% during the third quarter. Mraz Amerine & Associates Inc. now owns 13,411 shares of the credit services provider’s stock worth $5,947,000 after buying an additional 141 shares in the last quarter. Finally, Marshall Wace LLP grew its position in Credit Acceptance by 107.5% during the 2nd quarter. Marshall Wace LLP now owns 9,480 shares of the credit services provider’s stock worth $4,879,000 after acquiring an additional 4,912 shares during the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CACC shares. Stephens initiated coverage on Credit Acceptance in a research report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 target price for the company. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, TD Cowen lowered their target price on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a research report on Friday, November 1st.

Credit Acceptance Price Performance

Shares of NASDAQ CACC opened at $485.11 on Tuesday. The company has a market capitalization of $5.88 billion, a PE ratio of 32.58 and a beta of 1.42. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $616.66. The firm has a fifty day simple moving average of $451.68 and a 200 day simple moving average of $480.73.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, topping the consensus estimate of $7.88 by $0.91. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The firm had revenue of $550.30 million during the quarter, compared to analyst estimates of $548.13 million. During the same period last year, the company posted $10.70 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. On average, sell-side analysts forecast that Credit Acceptance Co. will post 37.14 EPS for the current year.

Insiders Place Their Bets

In other news, insider Thomas W. Smith sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $451.01, for a total transaction of $541,212.00. Following the completion of the sale, the insider now owns 74,450 shares of the company’s stock, valued at $33,577,694.50. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 5.30% of the stock is currently owned by corporate insiders.

About Credit Acceptance

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.