Principal Financial Group Inc. Decreases Stock Position in Credit Acceptance Co. (NASDAQ:CACC)

Principal Financial Group Inc. cut its position in Credit Acceptance Co. (NASDAQ:CACCFree Report) by 26.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 641 shares of the credit services provider’s stock after selling 230 shares during the quarter. Principal Financial Group Inc.’s holdings in Credit Acceptance were worth $354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CACC. Whittier Trust Co. acquired a new stake in Credit Acceptance in the fourth quarter valued at $74,000. National Bank of Canada FI raised its holdings in Credit Acceptance by 242.3% in the fourth quarter. National Bank of Canada FI now owns 243 shares of the credit services provider’s stock valued at $131,000 after acquiring an additional 172 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Credit Acceptance by 15.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider’s stock worth $180,000 after purchasing an additional 46 shares during the period. Panagora Asset Management Inc. acquired a new stake in shares of Credit Acceptance during the fourth quarter worth $210,000. Finally, Beacon Pointe Advisors LLC acquired a new stake in shares of Credit Acceptance during the fourth quarter worth $211,000. 81.71% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Stock Up 0.5 %

Shares of NASDAQ:CACC opened at $521.56 on Monday. The company has a debt-to-equity ratio of 3.29, a quick ratio of 13.79 and a current ratio of 13.79. Credit Acceptance Co. has a 1-year low of $379.77 and a 1-year high of $616.66. The company’s fifty day moving average is $497.47 and its two-hundred day moving average is $528.22. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 26.76 and a beta of 1.44.

Credit Acceptance (NASDAQ:CACCGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share for the quarter, topping analysts’ consensus estimates of $6.81 by $2.47. Credit Acceptance had a net margin of 12.83% and a return on equity of 30.70%. The business had revenue of $508.00 million for the quarter, compared to analysts’ expectations of $497.71 million. During the same quarter last year, the company earned $9.71 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts anticipate that Credit Acceptance Co. will post 40.86 EPS for the current year.

Analysts Set New Price Targets

Separately, TD Cowen dropped their target price on shares of Credit Acceptance from $465.00 to $420.00 and set a “sell” rating on the stock in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $402.33.

Read Our Latest Report on CACC

Credit Acceptance Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Credit Acceptance (NASDAQ:CACC)

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