Prudential Financial Inc. lessened its position in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,035 shares of the asset manager’s stock after selling 760 shares during the quarter. Prudential Financial Inc. owned about 0.75% of Encore Capital Group worth $7,893,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sigma Planning Corp acquired a new stake in Encore Capital Group in the first quarter worth about $222,000. Everence Capital Management Inc. acquired a new position in Encore Capital Group during the 2nd quarter valued at about $223,000. Victory Capital Management Inc. acquired a new position in Encore Capital Group during the 1st quarter valued at about $228,000. SG Americas Securities LLC bought a new position in shares of Encore Capital Group in the 1st quarter valued at about $283,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Encore Capital Group in the 1st quarter valued at about $346,000.
Several equities analysts recently weighed in on ECPG shares. Northland Securities restated a “buy” rating and issued a $40.00 price objective on shares of Encore Capital Group in a report on Thursday, August 8th. ValuEngine lowered shares of Encore Capital Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. BidaskClub cut shares of Encore Capital Group from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Finally, Zacks Investment Research upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.80.
Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Wednesday, August 7th. The asset manager reported $1.28 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.28. Encore Capital Group had a return on equity of 19.85% and a net margin of 11.14%. The business had revenue of $346.87 million for the quarter, compared to analysts’ expectations of $353.89 million. During the same quarter in the previous year, the business posted $1.33 EPS. Encore Capital Group’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts expect that Encore Capital Group, Inc. will post 5.64 earnings per share for the current year.
About Encore Capital Group
Encore Capital Group, Inc, a specialty finance company, together with its subsidiaries, provides debt recovery solutions and other related services for consumers across a range of 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.
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