Northern Trust Corp Sells 14,569 Shares of Encore Capital Group Inc $ECPG

Key Points

• Northern Trust Corp has reduced its stake in Encore Capital Group Inc by 5.1%, now holding approximately 1.17% of the company valued at about $9.33 million.
• Several institutional investors, including Bank of America Corp and Captrust Financial Advisors, have recently increased their positions in Encore Capital Group.
• Wall Street analysts upgraded Encore Capital Group from a "sell" to a "hold" rating, with a consensus price target set at $62.67.

Northern Trust Corp trimmed its position in shares of Encore Capital Group Inc (NASDAQ:ECPG - Free Report) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 272,294 shares of the asset manager's stock after selling 14,569 shares during the period. Northern Trust Corp owned approximately 1.17% of Encore Capital Group worth $9,334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ECPG. American Century Companies Inc. grew its stake in shares of Encore Capital Group by 13.1% in the 1st quarter. American Century Companies Inc. now owns 51,985 shares of the asset manager's stock valued at $1,782,000 after purchasing an additional 6,040 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Encore Capital Group by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 75,095 shares of the asset manager's stock valued at $2,574,000 after purchasing an additional 16,096 shares during the period. Altfest L J & Co. Inc. grew its stake in shares of Encore Capital Group by 7.3% in the 1st quarter. Altfest L J & Co. Inc. now owns 10,429 shares of the asset manager's stock valued at $358,000 after purchasing an additional 713 shares during the period. Blair William & Co. IL grew its stake in shares of Encore Capital Group by 18.3% in the 1st quarter. Blair William & Co. IL now owns 15,952 shares of the asset manager's stock valued at $547,000 after purchasing an additional 2,470 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Encore Capital Group in the 1st quarter valued at approximately $1,117,000.

Encore Capital Group Price Performance

Shares of ECPG stock traded up $1.15 during trading hours on Thursday, hitting $44.30. The company had a trading volume of 267,452 shares, compared to its average volume of 287,443. Encore Capital Group Inc has a 12 month low of $26.45 and a 12 month high of $51.77. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -11.84 and a beta of 1.52. The firm's fifty day moving average is $40.27 and its 200 day moving average is $37.59. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.81 and a current ratio of 0.81.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The asset manager reported $2.49 earnings per share for the quarter, beating the consensus estimate of $1.44 by $1.05. Encore Capital Group had a positive return on equity of 19.61% and a negative net margin of 6.07%.The company had revenue of $442.12 million for the quarter, compared to analyst estimates of $383.42 million. During the same period in the prior year, the company posted $1.34 EPS. The company's revenue was up 24.4% compared to the same quarter last year. On average, sell-side analysts predict that Encore Capital Group Inc will post 5.09 EPS for the current fiscal year.

About Encore Capital Group

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.