Cibc World Market Inc. Buys Shares of 7,102 H&R Block, Inc. (NYSE:HRB)

Cibc World Market Inc. bought a new stake in H&R Block, Inc. (NYSE:HRBGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 7,102 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HRB. Charles Schwab Investment Management Inc. grew its stake in shares of H&R Block by 186.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,969,445 shares of the company’s stock worth $77,325,000 after acquiring an additional 1,933,031 shares during the last quarter. State Street Corp grew its stake in shares of H&R Block by 13.9% during the first quarter. State Street Corp now owns 7,889,986 shares of the company’s stock worth $207,444,000 after acquiring an additional 961,159 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of H&R Block by 10,732.0% during the second quarter. Wedge Capital Management L L P NC now owns 921,474 shares of the company’s stock worth $32,546,000 after acquiring an additional 912,967 shares during the last quarter. Fulton Breakefield Broenniman LLC purchased a new stake in shares of H&R Block during the second quarter worth about $22,509,000. Finally, Sumitomo Mitsui Financial Group Inc. grew its stake in shares of H&R Block by 4,171.7% during the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 434,775 shares of the company’s stock worth $60,912,000 after acquiring an additional 424,597 shares during the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.

H&R Block Trading Down 1.4 %

Shares of NYSE:HRB opened at $42.59 on Thursday. H&R Block, Inc. has a 12-month low of $21.08 and a 12-month high of $48.76. The company has a market capitalization of $6.62 billion, a PE ratio of 13.10, a PEG ratio of 0.89 and a beta of 0.60. The business has a 50 day moving average of $41.44 and a two-hundred day moving average of $39.47. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 7.03.

H&R Block (NYSE:HRBGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported ($0.99) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.09. H&R Block had a negative return on equity of 613.29% and a net margin of 15.56%. During the same period in the prior year, the firm earned ($0.78) earnings per share. As a group, analysts forecast that H&R Block, Inc. will post 3.8 EPS for the current year.

H&R Block announced that its Board of Directors has approved a stock buyback program on Tuesday, August 9th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the company to purchase up to 17.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

H&R Block Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Tuesday, December 6th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, December 5th. H&R Block’s dividend payout ratio (DPR) is presently 35.69%.

Insider Activity

In other news, insider Karen A. Orosco sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $45.00, for a total value of $2,250,000.00. Following the completion of the sale, the insider now directly owns 89,733 shares in the company, valued at $4,037,985. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on HRB. TheStreet downgraded H&R Block from a “b” rating to a “d+” rating in a report on Tuesday, November 1st. The Goldman Sachs Group lifted their target price on H&R Block from $22.60 to $25.00 and gave the stock a “sell” rating in a report on Thursday, November 3rd. StockNews.com began coverage on H&R Block in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Barrington Research lifted their target price on H&R Block from $40.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, August 10th.

About H&R Block

(Get Rating)

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.

See Also

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

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