Livforsakringsbolaget Skandia Omsesidigt Raises Stock Holdings in FirstCash Holdings, Inc. $FCFS

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its holdings in FirstCash Holdings by 21.4% during Q2, acquiring an additional 3,700 shares, bringing its total to 21,000 shares valued at approximately $2.84 million.
• FirstCash announced a quarterly dividend of $0.42 per share, a notable increase from the previous dividend of $0.38, with an annualized dividend yield of 1.1%.
• Several brokerages have upgraded their ratings for FirstCash, with Jefferies Financial Group giving it a "strong-buy" status, while analysts maintain a consensus target price of $143.00 for the stock.

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 21.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,000 shares of the company's stock after acquiring an additional 3,700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in FirstCash were worth $2,838,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in FirstCash by 808.0% during the first quarter. Farther Finance Advisors LLC now owns 227 shares of the company's stock valued at $27,000 after buying an additional 202 shares in the last quarter. CX Institutional bought a new position in FirstCash during the first quarter valued at about $42,000. UMB Bank n.a. raised its holdings in FirstCash by 167.5% during the first quarter. UMB Bank n.a. now owns 452 shares of the company's stock valued at $54,000 after buying an additional 283 shares in the last quarter. CWM LLC grew its position in shares of FirstCash by 92.9% in the first quarter. CWM LLC now owns 517 shares of the company's stock valued at $62,000 after purchasing an additional 249 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of FirstCash in the first quarter valued at about $65,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO R Douglas Orr sold 3,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $148.41, for a total transaction of $445,230.00. Following the completion of the sale, the chief financial officer directly owned 97,567 shares of the company's stock, valued at approximately $14,479,918.47. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rick L. Wessel sold 69,024 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $138.49, for a total value of $9,559,133.76. Following the sale, the chief executive officer owned 932,958 shares of the company's stock, valued at approximately $129,205,353.42. The trade was a 6.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,500 shares of company stock worth $15,493,610. 14.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FCFS shares. Jefferies Financial Group raised FirstCash to a "strong-buy" rating in a research report on Monday, August 18th. Loop Capital downgraded FirstCash from a "buy" rating to a "hold" rating and set a $145.00 target price on the stock. in a research report on Friday, September 5th. Cowen reissued a "buy" rating on shares of FirstCash in a research report on Monday, August 18th. Wall Street Zen downgraded FirstCash from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Capital One Financial set a $160.00 target price on FirstCash in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, FirstCash has a consensus rating of "Buy" and an average price target of $143.00.

FirstCash Trading Up 1.0%

NASDAQ FCFS traded up $1.46 during trading on Tuesday, hitting $148.85. The company had a trading volume of 41,126 shares, compared to its average volume of 299,578. 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 company's fifty day moving average is $139.36 and its 200-day moving average is $131.05. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 22.83 and a beta of 0.70. FirstCash Holdings, Inc. has a one year low of $100.24 and a one year high of $150.92.

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

FirstCash Increases Dividend

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

FirstCash 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.