H&R Block Inc. (HRB) Shares Bought by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. boosted its position in shares of H&R Block Inc. (NYSE:HRB) by 27.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 460,642 shares of the company’s stock after buying an additional 98,355 shares during the period. Tocqueville Asset Management L.P. owned 0.21% of H&R Block worth $10,595,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wedge Capital Management L L P NC purchased a new position in shares of H&R Block during the second quarter worth $639,000. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of H&R Block by 2.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 17,617 shares of the company’s stock worth $405,000 after buying an additional 348 shares during the last quarter. Midas Management Corp purchased a new position in shares of H&R Block during the second quarter worth $1,010,000. Huntington National Bank boosted its position in shares of H&R Block by 432.3% in the second quarter. Huntington National Bank now owns 18,648 shares of the company’s stock worth $429,000 after buying an additional 15,145 shares during the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in H&R Block during the second quarter valued at approximately $576,000. Hedge funds and other institutional investors own 93.08% of the company’s stock.
Shares of H&R Block Inc. (NYSE:HRB) traded up 0.48% during mid-day trading on Monday, reaching $23.18. The company had a trading volume of 841,170 shares. The company has a market capitalization of $5.08 billion, a PE ratio of 15.68 and a beta of 0.70. The company’s 50-day moving average price is $22.66 and its 200-day moving average price is $22.90. H&R Block Inc. has a 52-week low of $19.18 and a 52-week high of $37.53.
H&R Block (NYSE:HRB) last posted its quarterly earnings results on Tuesday, August 30th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.53) by $0.02. H&R Block had a net margin of 11.58% and a negative return on equity of 202.63%. The company had revenue of $125 million for the quarter. During the same quarter in the prior year, the company posted ($0.35) EPS. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. On average, analysts forecast that H&R Block Inc. will post $1.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Wednesday, September 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Monday, September 12th. H&R Block’s dividend payout ratio is currently 52.69%.
Several research analysts have commented on the company. Zacks Investment Research raised H&R Block from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of H&R Block in a research report on Thursday, September 1st. BTIG Research reissued a “neutral” rating on shares of H&R Block in a research report on Wednesday, August 31st. Morgan Stanley reissued a “buy” rating and issued a $26.00 price objective on shares of H&R Block in a research report on Wednesday, August 31st. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $28.00 price objective (down from $29.00) on shares of H&R Block in a research report on Wednesday, August 31st. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.12.
In related news, SVP Gregory J. Macfarlane purchased 4,618 shares of the stock in a transaction dated Thursday, September 1st. The shares were acquired at an average cost of $21.65 per share, for a total transaction of $99,979.70. Following the acquisition, the senior vice president now directly owns 121,707 shares in the company, valued at approximately $2,634,956.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.
About H&R Block
H&R Block, Inc (H&R Block), through its subsidiaries, provides tax preparation and other services. The Company provides assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions and other services and products related to income tax return preparation to the general public primarily in the United States, Canada, Australia and their respective territories.
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