Principal Financial Group Inc. Lowers Holdings in Encore Capital Group, Inc. (NASDAQ:ECPG)

Principal Financial Group Inc. reduced its stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,665 shares of the asset manager’s stock after selling 5,152 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Encore Capital Group worth $5,278,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Jane Street Group LLC increased its holdings in shares of Encore Capital Group by 191.7% during the 3rd quarter. Jane Street Group LLC now owns 49,719 shares of the asset manager’s stock valued at $2,350,000 after purchasing an additional 32,672 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Encore Capital Group in the third quarter worth about $695,000. Sei Investments Co. boosted its stake in shares of Encore Capital Group by 14.0% during the 2nd quarter. Sei Investments Co. now owns 73,105 shares of the asset manager’s stock worth $3,051,000 after acquiring an additional 8,991 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Encore Capital Group by 177.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,550 shares of the asset manager’s stock valued at $1,066,000 after acquiring an additional 14,409 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Encore Capital Group by 16.0% in the 3rd quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock valued at $35,752,000 after purchasing an additional 104,509 shares in the last quarter.

Encore Capital Group Price Performance

Encore Capital Group stock opened at $47.77 on Thursday. The company has a fifty day simple moving average of $48.18 and a 200-day simple moving average of $47.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.09 and a beta of 1.55. Encore Capital Group, Inc. has a 52-week low of $39.64 and a 52-week high of $54.55.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.22). The business had revenue of $367.07 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the business earned $0.79 earnings per share. On average, equities analysts anticipate that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

Insider Activity at Encore Capital Group

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

Analyst Upgrades and Downgrades

ECPG has been the topic of several research analyst reports. Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. StockNews.com raised shares of Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. JMP Securities upped their price objective on shares of Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Finally, Northland Securities lifted their target price on shares of Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $65.00.

Encore Capital Group Company Profile

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.