United Services Automobile Association Makes New Investment in FirstCash Holdings, Inc. $FCFS

Key Points

• USAA acquired a new stake in FirstCash Holdings during Q1, purchasing 2,459 shares valued at approximately $294,000.
• Insider trading activity included CEO Rick L. Wessel selling 30,976 shares for over $4.3 million, reducing his ownership position by 3.32%.
• FirstCash announced an increase in its quarterly dividend from $0.38 to $0.42, resulting in an annualized dividend yield of 1.1%.

United Services Automobile Association purchased a new stake in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 2,459 shares of the company's stock, valued at approximately $294,000.

Several other hedge funds have also recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its stake in shares of FirstCash by 26.4% during the 4th quarter. Ameriprise Financial Inc. now owns 179,514 shares of the company's stock worth $18,598,000 after purchasing an additional 37,490 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of FirstCash during the 4th quarter worth about $2,338,000. Cetera Investment Advisers boosted its stake in shares of FirstCash by 52.5% during the 4th quarter. Cetera Investment Advisers now owns 4,245 shares of the company's stock worth $440,000 after purchasing an additional 1,461 shares during the period. Deutsche Bank AG boosted its stake in shares of FirstCash by 39.2% during the 4th quarter. Deutsche Bank AG now owns 35,052 shares of the company's stock worth $3,631,000 after purchasing an additional 9,864 shares during the period. Finally, Focus Partners Wealth purchased a new position in shares of FirstCash during the 4th quarter worth about $346,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FCFS shares. Jefferies Financial Group raised shares of FirstCash to a "strong-buy" rating in a research report on Monday, August 18th. Cowen reissued a "buy" rating on shares of FirstCash in a research report on Monday, August 18th. Loop Capital cut shares of FirstCash from a "buy" rating to a "hold" rating and set a $145.00 price objective for the company. in a research report on Friday, September 5th. Capital One Financial set a $160.00 price target on shares of FirstCash in a report on Tuesday, August 5th. Finally, Wall Street Zen lowered shares of 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, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $143.00.

Insider Activity at FirstCash

In other FirstCash news, Director James H. Graves sold 6,000 shares of the company's stock in a transaction 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 completion of the transaction, the director owned 15,846 shares in the company, valued at approximately $2,132,237.76. This represents a 27.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO R Douglas Orr sold 2,500 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $146.40, for a total transaction of $366,000.00. Following the transaction, the chief financial officer directly owned 41,734 shares in the company, valued at approximately $6,109,857.60. This trade represents a 5.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,500 shares of company stock worth $15,493,610 in the last 90 days. 2.93% of the stock is owned by insiders.

FirstCash Price Performance

FCFS traded down $1.27 during midday trading on Tuesday, hitting $145.69. 168,931 shares of the company traded hands, compared to its average volume of 300,469. The business has a 50 day simple moving average of $137.93 and a two-hundred day simple moving average of $129.88. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 22.38 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. FirstCash Holdings, Inc. has a 52-week low of $100.24 and a 52-week high of $150.92.

FirstCash (NASDAQ:FCFS - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $820.42 million. During the same period last year, the business earned $1.37 earnings per share. FirstCash's revenue was up .0% compared to the same quarter last year. On average, equities analysts forecast that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current fiscal 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 given a $0.42 dividend. This is a positive change 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 1.2%. FirstCash's 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.