Walleye Capital LLC Purchases New Position in H&R Block, Inc. (NYSE:HRB)

Walleye Capital LLC purchased a new stake in shares of H&R Block, Inc. (NYSE:HRBGet Rating) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 26,693 shares of the company’s stock, valued at approximately $695,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. grew its holdings in shares of H&R Block by 250.0% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,750 shares of the company’s stock valued at $46,000 after purchasing an additional 1,250 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of H&R Block during the 1st quarter valued at approximately $71,000. Intersect Capital LLC bought a new stake in shares of H&R Block during the 1st quarter valued at approximately $206,000. Eads & Heald Wealth Management bought a new stake in H&R Block during the 1st quarter worth approximately $212,000. Finally, Freestone Capital Holdings LLC bought a new stake in H&R Block during the 1st quarter worth approximately $216,000. 87.06% of the stock is owned by institutional investors.

H&R Block Trading Down 1.5 %

HRB opened at $44.94 on Wednesday. H&R Block, Inc. has a fifty-two week low of $21.08 and a fifty-two week high of $48.76. The company has a debt-to-equity ratio of 7.03, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.95 and a beta of 0.63. The company’s 50 day moving average price is $42.92 and its two-hundred day moving average price is $34.70.

H&R Block (NYSE:HRBGet Rating) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.19. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $994.77 million. H&R Block had a net margin of 15.99% and a negative return on equity of 2,398.97%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.39 EPS. As a group, research analysts predict that H&R Block, Inc. will post 3.78 earnings per share for the current year.

H&R Block declared that its board has initiated a share buyback plan on Tuesday, August 9th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 17.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

H&R Block Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 8th will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.58%. This is an increase from H&R Block’s previous quarterly dividend of $0.27. H&R Block’s payout ratio is 33.53%.

Insider Transactions at H&R Block

In other news, Director Christianna Wood sold 12,580 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $46.96, for a total value of $590,756.80. Following the transaction, the director now owns 121,802 shares in the company, valued at approximately $5,719,821.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Tony G. Bowen sold 64,741 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $48.35, for a total transaction of $3,130,227.35. Following the transaction, the chief financial officer now owns 79,794 shares in the company, valued at approximately $3,858,039.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christianna Wood sold 12,580 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $46.96, for a total transaction of $590,756.80. Following the transaction, the director now owns 121,802 shares in the company, valued at approximately $5,719,821.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,821 shares of company stock worth $6,287,989. Company insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HRB. Barrington Research boosted their target price on shares of H&R Block from $40.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, August 10th. The Goldman Sachs Group boosted their target price on shares of H&R Block from $20.00 to $22.60 and gave the stock a “sell” rating in a report on Wednesday, August 10th. Finally, StockNews.com lowered shares of H&R Block from a “buy” rating to a “hold” rating in a report on Friday, August 19th.

About H&R Block

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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. The company offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or its franchisees.

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

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