Charles Schwab Investment Management Inc. Sells 67,790 Shares of H&R Block, Inc. (NYSE:HRB)

Charles Schwab Investment Management Inc. lessened its stake in H&R Block, Inc. (NYSE:HRB) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,776,597 shares of the company’s stock after selling 67,790 shares during the quarter. Charles Schwab Investment Management Inc. owned about 2.62% of H&R Block worth $182,674,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC increased its stake in shares of H&R Block by 91.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 518 shares of the company’s stock valued at $25,000 after acquiring an additional 248 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in H&R Block by 1,200.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 650 shares of the company’s stock valued at $28,000 after purchasing an additional 600 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in H&R Block in the fourth quarter worth $48,000. Meeder Asset Management Inc. bought a new position in shares of H&R Block during the fourth quarter worth $53,000. Finally, HM Payson & Co. acquired a new position in shares of H&R Block in the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 90.14% of the company’s stock.

H&R Block Trading Up 1.4 %

HRB stock opened at $49.21 on Friday. The stock has a market cap of $6.87 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 0.89 and a beta of 0.69. The stock has a 50-day moving average price of $47.69 and a two-hundred day moving average price of $46.69. H&R Block, Inc. has a 1 year low of $28.83 and a 1 year high of $52.90.

H&R Block (NYSE:HRB) last posted its quarterly earnings data on Thursday, May 9th. The company reported $4.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.28. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.14 billion. H&R Block had a negative return on equity of 227.22% and a net margin of 16.98%. H&R Block’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company earned $4.20 earnings per share. On average, analysts forecast that H&R Block, Inc. will post 4.25 earnings per share for the current fiscal year.

H&R Block Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 5th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, June 5th. H&R Block’s dividend payout ratio (DPR) is currently 35.26%.

Insider Buying and Selling at H&R Block

In related news, CEO Jeffrey J. Jones II sold 85,921 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $49.21, for a total transaction of $4,228,172.41. Following the sale, the chief executive officer now owns 755,359 shares in the company, valued at $37,171,216.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

HRB has been the topic of several research analyst reports. StockNews.com raised H&R Block from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Barrington Research reiterated an “outperform” rating and issued a $55.00 price objective on shares of H&R Block in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group lifted their price target on shares of H&R Block from $34.00 to $38.00 and gave the company a “sell” rating in a research note on Wednesday, February 7th.

H&R Block Company Profile

H&R Block, Inc, through its subsidiaries, provides assisted income tax return preparation and do-it-yourself (DIY) tax return preparation services and products to the general public primarily in the United States, Canada, and Australia. It offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or its franchisees.