TD Asset Management Inc Trims Holdings in Encore Capital Group Inc $ECPG

TD Asset Management Inc reduced its holdings in shares of Encore Capital Group Inc (NASDAQ:ECPG) by 10.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,070 shares of the asset manager’s stock after selling 4,324 shares during the quarter. TD Asset Management Inc owned 0.16% of Encore Capital Group worth $1,474,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ECPG. Sheets Smith Wealth Management lifted its stake in Encore Capital Group by 3.6% during the first quarter. Sheets Smith Wealth Management now owns 14,790 shares of the asset manager’s stock worth $507,000 after purchasing an additional 512 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in Encore Capital Group by 10.7% during the first quarter. Illinois Municipal Retirement Fund now owns 14,056 shares of the asset manager’s stock worth $482,000 after purchasing an additional 1,358 shares during the last quarter. Buffington Mohr McNeal bought a new position in Encore Capital Group during the first quarter worth $686,000. Principal Financial Group Inc. lifted its stake in Encore Capital Group by 2.7% during the first quarter. Principal Financial Group Inc. now owns 117,967 shares of the asset manager’s stock worth $4,044,000 after purchasing an additional 3,105 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in 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.

Analyst Ratings Changes

ECPG has been the topic of several research analyst reports. Zacks Research upgraded Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Encore Capital Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

Encore Capital Group Stock Performance

ECPG stock opened at $43.07 on Thursday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $991.04 million, a price-to-earnings ratio of -11.52 and a beta of 1.48. Encore Capital Group Inc has a 1 year low of $26.45 and a 1 year high of $51.77. The stock’s fifty day moving average is $42.74 and its two-hundred day moving average is $39.07.

Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Wednesday, August 6th. The asset manager reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $1.05. The company had revenue of $442.12 million for the quarter, compared to analysts’ expectations of $383.42 million. Encore Capital Group had a positive return on equity of 19.61% and a negative net margin of 6.07%.The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the business posted $1.34 earnings per share. On average, research analysts predict that Encore Capital Group Inc will post 5.09 EPS 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.