TD Asset Management Inc Cuts Position in Encore Capital Group Inc (NASDAQ:ECPG)

TD Asset Management Inc lowered its stake in shares of Encore Capital Group Inc (NASDAQ:ECPG) by 7.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,394 shares of the asset manager’s stock after selling 3,562 shares during the quarter. TD Asset Management Inc owned 0.18% of Encore Capital Group worth $1,453,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Heartland Advisors Inc. purchased a new position in Encore Capital Group in the first quarter valued at $10,118,000. Homestead Advisers Corp increased its holdings in Encore Capital Group by 15.2% in the first quarter. Homestead Advisers Corp now owns 133,983 shares of the asset manager’s stock valued at $4,593,000 after buying an additional 17,700 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Encore Capital Group in the first quarter valued at $228,000. Allianz Asset Management GmbH increased its holdings in Encore Capital Group by 38.6% in the first quarter. Allianz Asset Management GmbH now owns 196,004 shares of the asset manager’s stock valued at $6,719,000 after buying an additional 54,568 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in shares of Encore Capital Group by 0.6% during the first quarter. Stephens Investment Management Group LLC now owns 1,144,464 shares of the asset manager’s stock worth $39,232,000 after purchasing an additional 7,010 shares during the last quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Encore Capital Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $62.67.

Encore Capital Group Stock Performance

Shares of ECPG stock opened at $35.97 on Monday. The stock’s 50-day moving average is $38.82 and its two-hundred day moving average is $39.14. The firm has a market cap of $839.90 million, a price-to-earnings ratio of -7.36 and a beta of 1.59. Encore Capital Group Inc has a 1 year low of $26.45 and a 1 year high of $51.77. The company has a debt-to-equity ratio of 4.63, a quick ratio of 0.80 and a current ratio of 0.80.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings data on Wednesday, May 7th. The asset manager reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.69. Encore Capital Group had a positive return on equity of 16.18% and a negative net margin of 8.38%. The company had revenue of $392.78 million for the quarter, compared to analyst estimates of $374.49 million. During the same quarter last year, the company posted $0.95 earnings per share. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. Analysts predict that Encore Capital Group Inc will post 5.09 earnings per share for the current year.

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.