Redwood Investment Management LLC Invests $2.20 Million in H&R Block, Inc. $HRB

Redwood Investment Management LLC bought a new stake in shares of H&R Block, Inc. (NYSE:HRB) in the second quarter, Holdings Channel.com reports. The institutional investor bought 57,857 shares of the company’s stock, valued at approximately $2,203,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new position in H&R Block during the fourth quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB boosted its stake in H&R Block by 54.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 895 shares of the company’s stock worth $34,000 after buying an additional 314 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in H&R Block by 100.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 711 shares of the company’s stock valued at $39,000 after purchasing an additional 357 shares during the last quarter. Elevation Wealth Partners LLC grew its position in H&R Block by 34.5% in the second quarter. Elevation Wealth Partners LLC now owns 1,040 shares of the company’s stock worth $40,000 after acquiring an additional 267 shares during the period. Finally, Bogart Wealth LLC increased its position in shares of H&R Block by 51.4% during the 1st quarter. Bogart Wealth LLC now owns 1,311 shares of the company’s stock worth $42,000 after purchasing an additional 445 shares during the last quarter. Institutional investors and hedge funds own 90.14% of the company’s stock.

H&R Block Price Performance

Shares of NYSE:HRB opened at $52.53 on Thursday. The business has a fifty day simple moving average of $43.50 and a 200-day simple moving average of $36.84. H&R Block, Inc. has a 52 week low of $28.16 and a 52 week high of $58.67. The company has a market cap of $6.66 billion, a P/E ratio of 9.18, a P/E/G ratio of 0.69 and a beta of 0.34. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 12.69.

H&R Block (NYSE:HRB) last released its earnings results on Tuesday, August 11th. The company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.17. H&R Block had a net margin of 18.59% and a negative return on equity of 214.84%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the company earned $2.27 earnings per share. The company’s quarterly revenue was up 255.5% on a year-over-year basis. H&R Block has set its FY 2027 guidance at 6.040-6.240 EPS. Equities research analysts forecast that H&R Block, Inc. will post 6.14 EPS for the current year.

H&R Block Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.46 per share. This is a boost from H&R Block’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 3.5%. The ex-dividend date is Thursday, September 3rd. H&R Block’s payout ratio is currently 29.37%.

Analyst Upgrades and Downgrades

HRB has been the topic of several research reports. Barrington Research increased their target price on H&R Block from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of H&R Block from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. The Goldman Sachs Group raised their target price on shares of H&R Block from $29.00 to $33.00 and gave the stock a “sell” rating in a research report on Wednesday, August 12th. Stephens assumed coverage on H&R Block in a research note on Tuesday, July 28th. They issued an “equal weight” rating and a $47.00 target price on the stock. Finally, Zacks Research downgraded shares of H&R Block from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.67.

About H&R Block

H&R Block (NYSE: HRB) is a leading provider of tax preparation services and software solutions, serving individual and small-business clients through a combination of retail offices, online platforms and mobile applications. The company offers assisted tax preparation at its network of retail offices, where clients work with trained tax professionals, as well as do-it-yourself (DIY) software and online filing services designed to guide users through the complexities of federal and state tax returns.

Founded in 1955 by brothers Henry W.