Allianz Asset Management GmbH Acquires 54,568 Shares of Encore Capital Group Inc (NASDAQ:ECPG)

Key Points

• Allianz Asset Management GmbH increased its position in Encore Capital Group by 38.6%, owning 196,004 shares worth $6.72 million as of the latest SEC filing.
• Encore Capital Group reported a quarterly earnings per share of $1.93, surpassing analysts' expectations, with revenue rising 19.6% year over year to $392.78 million.
• Analysts have shown optimism for Encore Capital Group, with the stock upgraded to a "hold" rating and an average price target of $62.67.

Allianz Asset Management GmbH raised its stake in Encore Capital Group Inc (NASDAQ:ECPG - Free Report) by 38.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 196,004 shares of the asset manager's stock after buying an additional 54,568 shares during the quarter. Allianz Asset Management GmbH owned 0.84% of Encore Capital Group worth $6,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ECPG. T. Rowe Price Investment Management Inc. grew its stake in Encore Capital Group by 30.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,416,499 shares of the asset manager's stock valued at $67,667,000 after purchasing an additional 327,637 shares in the last quarter. Portolan Capital Management LLC bought a new position in Encore Capital Group in the fourth quarter valued at about $10,291,000. Marshall Wace LLP grew its position in shares of Encore Capital Group by 73.1% in the 4th quarter. Marshall Wace LLP now owns 318,096 shares of the asset manager's stock valued at $15,195,000 after buying an additional 134,309 shares during the last quarter. Norges Bank bought a new stake in shares of Encore Capital Group during the 4th quarter valued at about $3,361,000. Finally, Barclays PLC boosted its position in shares of Encore Capital Group by 29.4% during the 4th quarter. Barclays PLC now owns 256,002 shares of the asset manager's stock valued at $12,228,000 after purchasing an additional 58,099 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Encore Capital Group Stock Down 0.6%

Shares of ECPG stock traded down $0.21 during mid-day trading on Thursday, hitting $36.76. 35,356 shares of the stock traded hands, compared to its average volume of 284,138. The stock has a market cap of $858.31 million, a P/E ratio of -7.52 and a beta of 1.59. The company has a debt-to-equity ratio of 4.63, a current ratio of 0.80 and a quick ratio of 0.80. The stock's fifty day moving average is $38.90 and its two-hundred day moving average is $39.41. Encore Capital Group Inc has a 52-week low of $26.45 and a 52-week high of $51.77.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The asset manager reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.69. The company had revenue of $392.78 million during the quarter, compared to analysts' expectations of $374.49 million. Encore Capital Group had a positive return on equity of 16.18% and a negative net margin of 8.38%. The firm's revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 earnings per share. Equities analysts predict that Encore Capital Group Inc will post 5.09 EPS for the current year.

Encore Capital Group 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.