Metropolitan Life Insurance Co. NY lowered its position in Encore Capital Group (NASDAQ:ECPG) by 53.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,786 shares of the asset manager’s stock after selling 8,827 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Encore Capital Group were worth $328,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Convergence Investment Partners LLC bought a new position in shares of Encore Capital Group in the 4th quarter worth approximately $285,000. Teacher Retirement System of Texas bought a new position in shares of Encore Capital Group in the 4th quarter worth approximately $354,000. Renaissance Technologies LLC bought a new position in shares of Encore Capital Group in the 4th quarter worth approximately $358,000. Mackenzie Financial Corp raised its position in shares of Encore Capital Group by 42.4% in the 4th quarter. Mackenzie Financial Corp now owns 11,301 shares of the asset manager’s stock worth $476,000 after acquiring an additional 3,367 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of Encore Capital Group by 5.8% in the 3rd quarter. American International Group Inc. now owns 18,972 shares of the asset manager’s stock worth $840,000 after acquiring an additional 1,036 shares in the last quarter.
ECPG stock opened at $44.05 on Thursday. Encore Capital Group has a twelve month low of $31.65 and a twelve month high of $52.00. The company has a debt-to-equity ratio of 6.03, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market cap of $1,165.06, a P/E ratio of 10.99, a P/E/G ratio of 0.74 and a beta of 1.62.
Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings data on Wednesday, February 21st. The asset manager reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.11. Encore Capital Group had a return on equity of 18.70% and a net margin of 7.01%. The company had revenue of $317.48 million during the quarter, compared to analyst estimates of $297.72 million. During the same quarter last year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. equities research analysts forecast that Encore Capital Group will post 4.68 earnings per share for the current fiscal year.
In related news, insider Paul Grinberg sold 18,773 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $41.88, for a total transaction of $786,213.24. Following the completion of the transaction, the insider now owns 200,518 shares of the company’s stock, valued at approximately $8,397,693.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.80% of the stock is owned by company insiders.
Several research analysts have recently issued reports on ECPG shares. Oppenheimer started coverage on Encore Capital Group in a research report on Monday, January 8th. They issued a “buy” rating and a $53.00 target price for the company. BidaskClub lowered Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. ValuEngine raised Encore Capital Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research raised Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Encore Capital Group has a consensus rating of “Buy” and an average target price of $50.90.
TRADEMARK VIOLATION WARNING: This story was reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this story can be accessed at https://www.thelincolnianonline.com/2018/04/19/metropolitan-life-insurance-co-ny-decreases-stake-in-encore-capital-group-ecpg.html.
Encore Capital Group Company Profile
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.
Want to see what other hedge funds are holding ECPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Encore Capital Group (NASDAQ:ECPG).
Receive News & Ratings for Encore Capital Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encore Capital Group and related companies with MarketBeat.com's FREE daily email newsletter.