BlackRock Inc. raised its position in H & R Block Inc (NYSE:HRB) by 20.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,588,346 shares of the company’s stock after purchasing an additional 4,356,920 shares during the period. BlackRock Inc. owned 12.45% of H & R Block worth $582,902,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its holdings in H & R Block by 93.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 494,120 shares of the company’s stock valued at $11,256,000 after purchasing an additional 238,468 shares during the period. Handelsbanken Fonder AB bought a new stake in shares of H & R Block during the 1st quarter worth $864,000. Meeder Asset Management Inc. lifted its holdings in shares of H & R Block by 6.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 34,154 shares of the company’s stock worth $778,000 after acquiring an additional 2,172 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of H & R Block by 2.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 120,172 shares of the company’s stock worth $2,738,000 after acquiring an additional 2,814 shares during the last quarter. Finally, Tikehau Investment Management bought a new stake in shares of H & R Block during the 1st quarter worth $15,071,000. 95.73% of the stock is owned by hedge funds and other institutional investors.
In other H & R Block news, insider Thomas A. Gerke sold 70,000 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $26.54, for a total value of $1,857,800.00. Following the transaction, the insider now owns 68,073 shares in the company, valued at $1,806,657.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.
HRB has been the subject of a number of research analyst reports. TheStreet raised shares of H & R Block from a “c+” rating to a “b” rating in a report on Tuesday, June 12th. Barrington Research reiterated a “buy” rating and issued a $27.00 target price on shares of H & R Block in a research report on Thursday, August 23rd. Morgan Stanley decreased their target price on shares of H & R Block from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 13th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of H & R Block from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, BMO Capital Markets decreased their target price on shares of H & R Block from $29.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, June 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. H & R Block has an average rating of “Hold” and an average target price of $25.24.
Shares of NYSE:HRB opened at $26.30 on Thursday. The firm has a market capitalization of $5.56 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 1.40 and a beta of 0.15. H & R Block Inc has a 52 week low of $22.45 and a 52 week high of $29.81. The company has a debt-to-equity ratio of 7.79, a quick ratio of 2.24 and a current ratio of 2.27.
H & R Block (NYSE:HRB) last issued its earnings results on Tuesday, August 28th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.05. H & R Block had a net margin of 18.66% and a negative return on equity of 461.55%. The company had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $137.57 million. During the same quarter last year, the company earned ($0.62) EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. equities analysts forecast that H & R Block Inc will post 1.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Wednesday, September 12th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Tuesday, September 11th. H & R Block’s payout ratio is 33.56%.
About H & R Block
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: How are Outstanding Shares Different from Authorized Shares?
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