Livforsakringsbolaget Skandia Omsesidigt Has $33.91 Million Holdings in FirstCash Holdings, Inc. $FCFS

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in FirstCash Holdings, Inc. by 1,350.3%, owning $33.91 million worth of shares after acquiring an additional 233,600 shares during the second quarter.
• FirstCash recently announced a quarterly dividend increase, boosting it from $0.38 to $0.42, representing an annual yield of 1.1%.
• Analysts have varied ratings on FirstCash, with one upgrade to a "strong-buy" and a consensus target price of $143.00, reflecting a generally positive outlook for the stock.

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 1,350.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 250,900 shares of the company's stock after purchasing an additional 233,600 shares during the quarter. FirstCash comprises 0.0% of Livforsakringsbolaget Skandia Omsesidigt's investment portfolio, making the stock its 24th biggest position. Livforsakringsbolaget Skandia Omsesidigt owned 0.57% of FirstCash worth $33,907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Stephens Investment Management Group LLC raised its stake in FirstCash by 14.5% in the first quarter. Stephens Investment Management Group LLC now owns 888,834 shares of the company's stock valued at $106,945,000 after purchasing an additional 112,349 shares in the last quarter. Boston Partners raised its stake in FirstCash by 6.5% in the first quarter. Boston Partners now owns 650,458 shares of the company's stock valued at $78,385,000 after purchasing an additional 39,537 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in FirstCash by 14.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 640,521 shares of the company's stock valued at $77,067,000 after purchasing an additional 79,930 shares in the last quarter. Nuveen LLC acquired a new position in FirstCash in the first quarter valued at about $55,340,000. Finally, Goldman Sachs Group Inc. raised its stake in FirstCash by 9.7% in the first quarter. Goldman Sachs Group Inc. now owns 389,509 shares of the company's stock valued at $46,866,000 after purchasing an additional 34,364 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company's stock.

Analyst Upgrades and Downgrades

FCFS has been the subject of a number of analyst reports. Wall Street Zen downgraded FirstCash from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Capital One Financial set a $160.00 target price on FirstCash in a research note on Tuesday, August 5th. Cowen reissued a "buy" rating on shares of FirstCash in a research note on Monday, August 18th. Loop Capital downgraded FirstCash from a "buy" rating to a "hold" rating and set a $145.00 target price for the company. in a research note on Friday, September 5th. Finally, Jefferies Financial Group raised FirstCash to a "strong-buy" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, FirstCash has an average rating of "Buy" and a consensus target price of $143.00.

FirstCash Stock Performance

NASDAQ:FCFS opened at $146.96 on Tuesday. The stock has a market cap of $6.52 billion, a P/E ratio of 22.57 and a beta of 0.70. The company has a current ratio of 4.21, a quick ratio of 3.12 and a debt-to-equity ratio of 0.79. The stock's 50-day moving average is $137.93 and its 200-day moving average is $129.88. FirstCash Holdings, Inc. has a 1-year low of $100.24 and a 1-year high of $150.92.

FirstCash (NASDAQ:FCFS - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.13. The company had revenue of $830.62 million for the quarter, compared to analysts' expectations of $820.42 million. FirstCash had a return on equity of 16.63% and a net margin of 8.61%.The business's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.37 earnings per share. Equities research analysts anticipate that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current year.

FirstCash Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.42 dividend. The ex-dividend date was Friday, August 15th. This is a boost from FirstCash's previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 1.1%. FirstCash's dividend payout ratio (DPR) is currently 25.81%.

Insider Buying and Selling at FirstCash

In other FirstCash news, CEO Rick L. Wessel sold 30,976 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $139.33, for a total transaction of $4,315,886.08. Following the completion of the sale, the chief executive officer owned 901,982 shares of the company's stock, valued at approximately $125,673,152.06. This represents a 3.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James H. Graves sold 6,000 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $134.56, for a total transaction of $807,360.00. Following the sale, the director directly owned 15,846 shares of the company's stock, valued at $2,132,237.76. This represents a 27.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,500 shares of company stock valued at $15,493,610. 14.77% of the stock is currently owned by company insiders.

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.

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