Cornerstone Capital Management Holdings LLC. Lowers Position in H & R Block Inc (HRB)
Cornerstone Capital Management Holdings LLC. trimmed its holdings in shares of H & R Block Inc (NYSE:HRB) by 6.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 945,054 shares of the company’s stock after selling 68,239 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in H & R Block were worth $24,778,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in H & R Block by 3.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,553,820 shares of the company’s stock worth $171,840,000 after purchasing an additional 199,162 shares in the last quarter. First Eagle Investment Management LLC increased its stake in H & R Block by 2.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 6,302,315 shares of the company’s stock worth $166,885,000 after purchasing an additional 157,794 shares in the last quarter. APG Asset Management N.V. increased its stake in H & R Block by 21.1% during the 4th quarter. APG Asset Management N.V. now owns 4,925,349 shares of the company’s stock worth $107,547,000 after purchasing an additional 859,300 shares in the last quarter. Schroder Investment Management Group increased its stake in H & R Block by 58.9% during the 4th quarter. Schroder Investment Management Group now owns 4,594,678 shares of the company’s stock worth $120,472,000 after purchasing an additional 1,703,381 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in H & R Block during the 4th quarter worth approximately $106,233,000. 95.27% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently issued reports on HRB. BTIG Research reissued a “sell” rating and set a $21.00 target price on shares of H & R Block in a research note on Sunday. ValuEngine cut H & R Block from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. Morgan Stanley reissued an “equal weight” rating and set a $28.00 target price (up from $27.00) on shares of H & R Block in a research note on Wednesday, March 7th. Northcoast Research raised H & R Block from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $25.02 to $24.69 in a research note on Monday, March 5th. Finally, BMO Capital Markets raised their price target on shares of H & R Block from $2.75 to $31.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $27.67.
H & R Block (NYSE:HRB) last issued its quarterly earnings results on Tuesday, March 6th. The company reported ($1.16) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.13. The company had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $459.14 million. H & R Block had a net margin of 8.19% and a negative return on equity of 77.32%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned ($0.49) EPS. equities research analysts predict that H & R Block Inc will post 2.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Tuesday, March 13th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 12th. This represents a $0.96 annualized dividend and a dividend yield of 3.53%. H & R Block’s dividend payout ratio is currently 80.00%.
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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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