PNC Financial Services Group Inc. Trims Holdings in FirstCash Holdings, Inc. (NASDAQ:FCFS)

PNC Financial Services Group Inc. cut its holdings in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 17.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,873 shares of the company’s stock after selling 623 shares during the quarter. PNC Financial Services Group Inc.’s holdings in FirstCash were worth $298,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Callan Family Office LLC purchased a new stake in shares of FirstCash in the 4th quarter worth about $397,000. Raymond James Financial Inc. bought a new position in FirstCash in the 4th quarter worth about $18,169,000. Aigen Investment Management LP bought a new position in FirstCash in the 4th quarter worth about $452,000. J.Safra Asset Management Corp boosted its stake in FirstCash by 38.8% in the 4th quarter. J.Safra Asset Management Corp now owns 454 shares of the company’s stock worth $47,000 after purchasing an additional 127 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in FirstCash by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 519,945 shares of the company’s stock worth $53,866,000 after purchasing an additional 21,685 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at FirstCash

In other news, major shareholder Douglas Richard Rippel sold 300,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $113.43, for a total value of $34,029,000.00. Following the transaction, the insider now owns 4,431,869 shares in the company, valued at $502,706,900.67. This represents a 6.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO R Douglas Orr sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $113.35, for a total transaction of $226,700.00. Following the completion of the transaction, the chief financial officer now owns 100,567 shares in the company, valued at $11,399,269.45. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.77% of the company’s stock.

FirstCash Price Performance

FCFS opened at $116.87 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.15 and a current ratio of 4.14. The stock has a market capitalization of $5.23 billion, a P/E ratio of 20.40 and a beta of 0.63. The company’s 50-day simple moving average is $113.74 and its two-hundred day simple moving average is $110.92. FirstCash Holdings, Inc. has a 52-week low of $100.24 and a 52-week high of $133.64.

FirstCash (NASDAQ:FCFS) last posted its earnings results on Thursday, January 30th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.10. FirstCash had a net margin of 7.64% and a return on equity of 14.99%. As a group, analysts predict that FirstCash Holdings, Inc. will post 7.7 EPS for the current year.

FirstCash Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.30%. The ex-dividend date was Friday, February 14th. FirstCash’s dividend payout ratio is currently 26.53%.

Analysts Set New Price Targets

Separately, Stephens reiterated an “overweight” rating and issued a $137.00 price target on shares of FirstCash in a research note on Wednesday, February 19th.

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.