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California Public Employees Retirement System Increases Holdings in Encore Capital Group, Inc. (NASDAQ:ECPG)

California Public Employees Retirement System grew its holdings in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 39.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,153 shares of the asset manager’s stock after buying an additional 19,296 shares during the period. California Public Employees Retirement System’s holdings in Encore Capital Group were worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. TD Asset Management Inc. lifted its holdings in Encore Capital Group by 5.5% during the 2nd quarter. TD Asset Management Inc. now owns 52,880 shares of the asset manager’s stock worth $1,791,000 after buying an additional 2,760 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Encore Capital Group by 6.0% in the 2nd quarter. BlackRock Inc. now owns 4,063,492 shares of the asset manager’s stock valued at $137,631,000 after purchasing an additional 229,683 shares during the last quarter. Sigma Planning Corp lifted its holdings in shares of Encore Capital Group by 9.1% in the 2nd quarter. Sigma Planning Corp now owns 8,900 shares of the asset manager’s stock valued at $301,000 after purchasing an additional 743 shares during the last quarter. Pinebridge Investments L.P. lifted its holdings in shares of Encore Capital Group by 2.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 27,381 shares of the asset manager’s stock valued at $927,000 after purchasing an additional 533 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in shares of Encore Capital Group by 1.1% in the 3rd quarter. New York State Teachers Retirement System now owns 44,431 shares of the asset manager’s stock valued at $1,481,000 after purchasing an additional 500 shares during the last quarter.

Several research firms have recently weighed in on ECPG. ValuEngine downgraded Encore Capital Group from a “sell” rating to a “strong sell” rating in a report on Thursday, October 10th. Zacks Investment Research raised Encore Capital Group from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, November 8th. Keefe, Bruyette & Woods reissued a “reduce” rating and issued a $50.00 target price (up from $45.00) on shares of Encore Capital Group in a report on Sunday, November 10th. BidaskClub raised Encore Capital Group from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Northland Securities reissued a “buy” rating and issued a $40.00 target price on shares of Encore Capital Group in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $41.17.

Encore Capital Group stock opened at $35.68 on Monday. Encore Capital Group, Inc. has a fifty-two week low of $20.38 and a fifty-two week high of $39.19. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $1.10 billion, a P/E ratio of 7.16, a PEG ratio of 0.50 and a beta of 1.46. The stock has a 50-day simple moving average of $34.15 and a 200-day simple moving average of $34.75.

Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Wednesday, November 6th. The asset manager reported $1.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.25. Encore Capital Group had a return on equity of 20.85% and a net margin of 12.28%. The business had revenue of $355.94 million during the quarter, compared to the consensus estimate of $348.73 million. During the same period in the previous year, the business earned $1.19 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, analysts forecast that Encore Capital Group, Inc. will post 5.88 earnings per share for the current year.

Encore Capital Group 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.

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Institutional Ownership by Quarter for Encore Capital Group (NASDAQ:ECPG)

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