H&R Block (NYSE:HRB) Shares Up 3.6% After Insider Buying Activity

Shares of H&R Block, Inc. (NYSE:HRB – Get Rating) rose 3.6% during mid-day trading on Wednesday following insider buying activity. The stock traded as high as $30.18 and last traded at $29.91. Approximately 409,602 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 1,664,635 shares. The stock had previously closed at $28.87.

Specifically, Director Richard A. Johnson purchased 10,000 shares of the stock in a transaction dated Friday, May 19th. The stock was acquired at an average cost of $29.54 per share, for a total transaction of $295,400.00. Following the completion of the acquisition, the director now directly owns 68,729 shares in the company, valued at approximately $2,030,254.66. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barrington Research reduced their price target on shares of H&R Block from $48.00 to $42.00 in a research report on Wednesday, May 10th. StockNews.com downgraded H&R Block from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Finally, The Goldman Sachs Group lifted their price target on H&R Block from $25.00 to $28.00 and gave the company a “sell” rating in a research report on Wednesday, February 8th.

H&R Block Trading Up 2.8 %

The stock has a 50 day moving average price of $33.17 and a two-hundred day moving average price of $36.98. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 9.99, a P/E/G ratio of 0.63 and a beta of 0.67.

H&R Block (NYSE:HRB – Get Rating) last posted its earnings results on Tuesday, May 9th. The company reported $4.20 earnings per share for the quarter, missing analysts’ consensus estimates of $4.46 by ($0.26). H&R Block had a negative return on equity of 284.65% and a net margin of 13.59%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the firm posted $4.11 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that H&R Block, Inc. will post 3.73 EPS for the current fiscal year.

H&R Block Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Wednesday, June 7th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Tuesday, June 6th. H&R Block’s dividend payout ratio is currently 39.06%.

Institutional Investors Weigh In On H&R Block

Several hedge funds have recently bought and sold shares of the business. MetLife Investment Management LLC boosted its stake in H&R Block by 32.0% in the first quarter. MetLife Investment Management LLC now owns 112,342 shares of the company’s stock valued at $2,925,000 after acquiring an additional 27,230 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in H&R Block by 3.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 60,302 shares of the company’s stock worth $1,570,000 after buying an additional 2,073 shares during the period. Great West Life Assurance Co. Can grew its holdings in H&R Block by 10.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 116,912 shares of the company’s stock worth $3,134,000 after acquiring an additional 11,067 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in H&R Block by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,888,095 shares of the company’s stock worth $49,167,000 after acquiring an additional 26,323 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in H&R Block by 12.6% during the 1st quarter. Cetera Investment Advisers now owns 21,603 shares of the company’s stock worth $563,000 after purchasing an additional 2,424 shares during the period. Institutional investors own 90.05% of the company’s stock.

H&R Block Company Profile

(Get Rating)

H&R Block, Inc engages in the provision of tax preparation and other services. The firm offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or by franchisees. It also develops and markets DIY income tax preparation software online, as well as through third-party retail stores and direct mail, and provides DIY tax services, including federal and state income tax returns, access to tax tips, advice, and tax-related news, use of calculators for tax planning, and error checking and electronic filing.