58,322 Shares in FirstCash Holdings, Inc. $FCFS Acquired by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in FirstCash Holdings, Inc. (NASDAQ:FCFS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,322 shares of the company’s stock, valued at approximately $12,616,000. Legal & General Group Plc owned 0.13% of FirstCash at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Villanova Investment Management Co LLC increased its position in FirstCash by 0.4% during the fourth quarter. Villanova Investment Management Co LLC now owns 12,783 shares of the company’s stock worth $2,037,000 after acquiring an additional 54 shares during the period. Root Financial Partners LLC raised its stake in FirstCash by 29.6% in the first quarter. Root Financial Partners LLC now owns 245 shares of the company’s stock valued at $46,000 after purchasing an additional 56 shares in the last quarter. Arista Wealth Management LLC raised its stake in FirstCash by 1.4% in the second quarter. Arista Wealth Management LLC now owns 4,193 shares of the company’s stock valued at $907,000 after purchasing an additional 56 shares in the last quarter. State of Michigan Retirement System lifted its position in FirstCash by 1.1% during the first quarter. State of Michigan Retirement System now owns 9,315 shares of the company’s stock worth $1,751,000 after purchasing an additional 100 shares during the period. Finally, Assetmark Inc. grew its stake in FirstCash by 113.2% during the first quarter. Assetmark Inc. now owns 194 shares of the company’s stock worth $36,000 after buying an additional 103 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

Insider Activity

In other FirstCash news, SVP Raul Ramos sold 6,835 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $225.23, for a total transaction of $1,539,447.05. Following the completion of the sale, the senior vice president directly owned 20,400 shares in the company, valued at approximately $4,594,692. This trade represents a 25.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Thomas Brent Stuart sold 5,348 shares of FirstCash stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $214.63, for a total value of $1,147,841.24. Following the completion of the transaction, the chief operating officer directly owned 135,498 shares of the company’s stock, valued at approximately $29,081,935.74. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,183 shares of company stock worth $3,761,228 in the last three months. Corporate insiders own 2.86% of the company’s stock.

Analysts Set New Price Targets

FCFS has been the topic of several recent analyst reports. Wall Street Zen lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Zacks Research downgraded FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Loop Capital raised shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 target price for the company in a report on Monday, August 10th. TD Cowen raised their price target on shares of FirstCash from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings downgraded shares of FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.00.

FirstCash Stock Performance

FirstCash stock opened at $214.47 on Tuesday. The business has a 50 day moving average of $213.93 and a 200-day moving average of $209.10. The company has a market capitalization of $9.30 billion, a P/E ratio of 24.48 and a beta of 0.53. FirstCash Holdings, Inc. has a 1 year low of $144.56 and a 1 year high of $238.93. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.89 and a quick ratio of 3.51.

FirstCash (NASDAQ:FCFS) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.11. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. FirstCash’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 earnings per share. On average, equities research analysts predict that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current year.

FirstCash Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, August 14th. This represents a $1.68 annualized dividend and a yield of 0.8%. FirstCash’s dividend payout ratio (DPR) is presently 19.18%.

About FirstCash

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.