Great West Life Assurance Co. Can reduced its holdings in Encore Capital Group, Inc. (NASDAQ:ECPG) by 9.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,489 shares of the asset manager’s stock after selling 3,135 shares during the quarter. Great West Life Assurance Co. Can owned about 0.12% of Encore Capital Group worth $1,396,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. FMR LLC boosted its holdings in Encore Capital Group by 110.6% in the second quarter. FMR LLC now owns 1,298,705 shares of the asset manager’s stock worth $52,142,000 after acquiring an additional 682,097 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Encore Capital Group by 13.9% in the second quarter. Ameriprise Financial Inc. now owns 839,303 shares of the asset manager’s stock worth $33,696,000 after purchasing an additional 102,413 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Encore Capital Group by 3.4% in the second quarter. Vanguard Group Inc. now owns 2,199,637 shares of the asset manager’s stock worth $88,317,000 after purchasing an additional 71,478 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Encore Capital Group by 310.6% in the second quarter. First Trust Advisors LP now owns 83,445 shares of the asset manager’s stock worth $3,350,000 after purchasing an additional 63,120 shares during the last quarter. Finally, Northern Trust Corp increased its position in Encore Capital Group by 7.7% during the second quarter. Northern Trust Corp now owns 632,955 shares of the asset manager’s stock valued at $25,414,000 after acquiring an additional 45,218 shares during the last quarter.
A number of analysts recently commented on ECPG shares. Oppenheimer started coverage on Encore Capital Group in a research report on Monday, January 8th. They set a “buy” rating and a $53.00 price objective for the company. BidaskClub lowered Encore Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. ValuEngine raised Encore Capital Group from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Zacks Investment Research lowered Encore Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Finally, Northland Securities reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Encore Capital Group in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $48.10.
In other news, insider Paul Grinberg sold 37,546 shares of the stock in a transaction that occurred on Wednesday, December 26th. The stock was sold at an average price of $42.43, for a total value of $1,593,076.78. Following the sale, the insider now directly owns 250,171 shares in the company, valued at $10,614,755.53. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 8.80% of the company’s stock.
Shares of Encore Capital Group, Inc. (ECPG) traded down $0.60 during mid-day trading on Friday, reaching $42.45. The company’s stock had a trading volume of 143,111 shares, compared to its average volume of 231,335. Encore Capital Group, Inc. has a fifty-two week low of $28.95 and a fifty-two week high of $52.00. The company has a debt-to-equity ratio of 5.60, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $1,090.00, a P/E ratio of 12.06, a PEG ratio of 0.82 and a beta of 1.82.
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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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