Invesco Ltd. Sells 8,626 Shares of FirstCash Holdings, Inc. $FCFS

Key Points

• Invesco Ltd. reduced its stake in FirstCash Holdings, Inc. by 9.1% during the first quarter, now holding 85,981 shares valued at approximately $10.34 million.
• Insider trading activity saw notable sales, with Howard F. Hambleton and Director James H. Graves selling shares, resulting in a 10.72% and 27.46% reduction in their ownership, respectively.
• The company announced a quarterly dividend increase to $0.42 per share, reflecting a 1.2% yield on an annualized basis.

Invesco Ltd. trimmed its holdings in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 9.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,981 shares of the company's stock after selling 8,626 shares during the quarter. Invesco Ltd. owned 0.19% of FirstCash worth $10,345,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of FCFS. Earnest Partners LLC grew its stake in shares of FirstCash by 2.3% during the 4th quarter. Earnest Partners LLC now owns 2,338,671 shares of the company's stock worth $242,286,000 after acquiring an additional 52,409 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of FirstCash by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,043,531 shares of the company's stock valued at $108,107,000 after buying an additional 9,264 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in shares of FirstCash by 14.5% in the 1st quarter. Stephens Investment Management Group LLC now owns 888,834 shares of the company's stock valued at $106,945,000 after buying an additional 112,349 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of FirstCash by 14.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 640,521 shares of the company's stock valued at $77,067,000 after buying an additional 79,930 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of FirstCash by 9.4% in the 4th quarter. Northern Trust Corp now owns 585,302 shares of the company's stock valued at $60,637,000 after buying an additional 50,183 shares during the last quarter. 80.30% of the stock is owned by institutional investors.

FirstCash Stock Performance

Shares of FCFS traded down $0.50 during midday trading on Friday, reaching $147.27. 354,445 shares of the stock were exchanged, compared to its average volume of 304,179. FirstCash Holdings, Inc. has a twelve month low of $100.24 and a twelve month high of $148.94. The company has a quick ratio of 3.12, a current ratio of 4.21 and a debt-to-equity ratio of 0.79. The company has a market cap of $6.53 billion, a P/E ratio of 22.62 and a beta of 0.68. The stock's 50 day simple moving average is $135.10 and its 200 day simple moving average is $127.26.

FirstCash (NASDAQ:FCFS - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.13. FirstCash had a return on equity of 16.63% and a net margin of 8.61%.The company had revenue of $830.62 million during the quarter, compared to the consensus estimate of $820.42 million. During the same quarter last year, the firm earned $1.37 earnings per share. The company's revenue was up .0% on a year-over-year basis. On average, sell-side analysts expect that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current year.

FirstCash Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.42 per share. This is an increase from FirstCash's previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 15th. FirstCash's payout ratio is 25.81%.

Insider Transactions at FirstCash

In other news, Director James H. Graves sold 6,000 shares of FirstCash stock in a transaction on Monday, August 4th. The stock was sold at an average price of $134.56, for a total transaction of $807,360.00. Following the completion of the sale, the director owned 15,846 shares of the company's stock, valued at approximately $2,132,237.76. This trade represents a 27.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rick L. Wessel sold 30,976 shares of FirstCash stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $139.33, for a total value of $4,315,886.08. Following the sale, the chief executive officer directly owned 901,982 shares of the company's stock, valued at $125,673,152.06. This represents a 3.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,900 shares of company stock valued at $15,193,007. 2.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FCFS has been the subject of several recent analyst reports. Capital One Financial set a $160.00 price objective on FirstCash in a report on Tuesday, August 5th. Cowen reissued a "buy" rating on shares of FirstCash in a report on Monday, August 18th. Jefferies Financial Group raised FirstCash to a "strong-buy" rating in a report on Monday, August 18th. Finally, Wall Street Zen downgraded FirstCash from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, FirstCash has an average rating of "Buy" and a consensus target price of $142.33.

FirstCash Company Profile

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.