First Trust Advisors LP Acquires 334,111 Shares of H&R Block Inc. (HRB)
First Trust Advisors LP raised its position in shares of H&R Block Inc. (NYSE:HRB) by 111.0% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 635,072 shares of the company’s stock after buying an additional 334,111 shares during the period. First Trust Advisors LP owned approximately 0.29% of H&R Block worth $14,702,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Palo Capital Inc. purchased a new stake in H&R Block during the second quarter valued at $3,170,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in H&R Block during the second quarter valued at $336,000. State of Alaska Department of Revenue purchased a new stake in H&R Block during the second quarter valued at $1,662,000. Capital One National Association purchased a new stake in H&R Block during the second quarter valued at $214,000. Finally, Punch & Associates Investment Management Inc. raised its stake in H&R Block by 1.3% in the second quarter. Punch & Associates Investment Management Inc. now owns 104,284 shares of the company’s stock valued at $2,399,000 after buying an additional 1,291 shares during the last quarter. Institutional investors own 91.35% of the company’s stock.
Shares of H&R Block Inc. (NYSE:HRB) traded up 2.1925% during mid-day trading on Tuesday, hitting $22.2984. 1,270,252 shares of the company were exchanged. H&R Block Inc. has a 12-month low of $19.18 and a 12-month high of $37.35. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 15.0869 and a beta of 0.58. The firm has a 50 day moving average of $22.85 and a 200 day moving average of $22.84.
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 Zacks’ consensus estimate of ($0.53) by $0.02. The company earned $125 million during the quarter. H&R Block had a net margin of 11.58% and a negative return on equity of 202.63%. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.35) earnings per share. Equities research analysts forecast that H&R Block Inc. will post $1.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 5th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, December 1st. H&R Block’s payout ratio is 52.69%.
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HRB has been the topic of several analyst reports. Macquarie initiated coverage on shares of H&R Block in a report on Thursday, August 25th. They issued an “outperform” rating and a $28.00 target price on the stock. Zacks Investment Research raised shares of H&R Block from a “sell” rating to a “hold” rating in a report on Tuesday, November 1st. Piper Jaffray Cos. reissued an “overweight” rating and set a $28.00 price objective (down previously from $29.00) on shares of H&R Block in a report on Wednesday, August 31st. Morgan Stanley lowered shares of H&R Block from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $26.00 to $25.00 in a report on Wednesday, November 16th. Finally, BTIG Research reissued a “neutral” rating on shares of H&R Block in a report on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $27.77.
In other H&R Block news, SVP Gregory J. Macfarlane bought 4,618 shares of the stock in a transaction on Thursday, September 1st. The stock was purchased at an average price of $21.65 per share, with a total value of $99,979.70. Following the completion of the purchase, the senior vice president now owns 121,707 shares in the company, valued at $2,634,956.55. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.
H&R Block Company Profile
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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