State Board of Administration of Florida Retirement System trimmed its holdings in shares of H & R Block Inc (NYSE:HRB) by 1.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,523 shares of the company’s stock after selling 3,790 shares during the period. State Board of Administration of Florida Retirement System’s holdings in H & R Block were worth $7,793,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hartford Investment Management Co. increased its holdings in H & R Block by 1.6% during the 4th quarter. Hartford Investment Management Co. now owns 38,218 shares of the company’s stock valued at $970,000 after purchasing an additional 594 shares in the last quarter. Landmark Bank increased its stake in shares of H & R Block by 5.3% in the 4th quarter. Landmark Bank now owns 12,521 shares of the company’s stock valued at $318,000 after buying an additional 625 shares during the period. ETF Managers Group LLC increased its stake in shares of H & R Block by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 5,131 shares of the company’s stock valued at $130,000 after buying an additional 699 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of H & R Block by 9.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,819 shares of the company’s stock valued at $187,000 after buying an additional 700 shares during the period. Finally, LS Investment Advisors LLC increased its stake in shares of H & R Block by 6.5% in the 1st quarter. LS Investment Advisors LLC now owns 11,840 shares of the company’s stock valued at $283,000 after buying an additional 722 shares during the period. 98.12% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:HRB traded up $0.25 during midday trading on Tuesday, hitting $27.23. The company had a trading volume of 403,849 shares, compared to its average volume of 3,081,594. H & R Block Inc has a 12 month low of $22.45 and a 12 month high of $29.81. The firm has a market capitalization of $5.55 billion, a P/E ratio of 9.14, a P/E/G ratio of 1.32 and a beta of 0.16.

H & R Block (NYSE:HRB) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.03). H & R Block had a return on equity of 829.18% and a net margin of 21.79%. The company had revenue of $468.00 million during the quarter, compared to the consensus estimate of $465.48 million. During the same quarter in the prior year, the business earned ($1.16) earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, sell-side analysts predict that H & R Block Inc will post 1.98 earnings per share for the current year.

Several equities research analysts have recently commented on HRB shares. Zacks Investment Research cut H & R Block from a “hold” rating to a “sell” rating in a research note on Thursday, May 2nd. Goldman Sachs Group cut H & R Block from a “neutral” rating to a “sell” rating and set a $22.00 target price for the company. in a research note on Thursday, January 31st. Finally, ValuEngine cut H & R Block from a “hold” rating to a “sell” rating in a research note on Thursday, January 31st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. H & R Block currently has an average rating of “Hold” and an average target price of $24.67.

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H & R Block Company Profile

H&R Block, Inc, through its subsidiaries, 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, and Australia. The company offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or by franchisees.

Further Reading: Institutional Investors

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Institutional Ownership by Quarter for H & R Block (NYSE:HRB)

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