Bridgewater Associates LP boosted its holdings in shares of H&R Block, Inc. (NYSE:HRB - Free Report) by 96.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 309,664 shares of the company's stock after buying an additional 151,978 shares during the quarter. Bridgewater Associates LP owned approximately 0.23% of H&R Block worth $19,679,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Eastern Bank bought a new position in H&R Block in the 3rd quarter worth approximately $25,000. Bogart Wealth LLC increased its holdings in shares of H&R Block by 606.1% in the 3rd quarter. Bogart Wealth LLC now owns 466 shares of the company's stock worth $30,000 after buying an additional 400 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of H&R Block during the 3rd quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of H&R Block in the 3rd quarter valued at about $35,000. Finally, Harbor Capital Advisors Inc. purchased a new position in H&R Block in the third quarter worth about $40,000. 90.14% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. StockNews.com cut H&R Block from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Barrington Research reiterated an "outperform" rating and set a $70.00 price objective on shares of H&R Block in a research report on Friday, November 8th. Finally, The Goldman Sachs Group raised their target price on shares of H&R Block from $39.00 to $44.00 and gave the stock a "sell" rating in a report on Friday, August 16th.
Check Out Our Latest Analysis on H&R Block
Insider Transactions at H&R Block
In other news, CEO Jeffrey J. Jones II sold 9,722 shares of H&R Block stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $63.07, for a total value of $613,166.54. Following the transaction, the chief executive officer now directly owns 893,169 shares in the company, valued at approximately $56,332,168.83. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Kellie J. Logerwell sold 8,000 shares of the company's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $64.41, for a total value of $515,280.00. Following the sale, the vice president now owns 18,474 shares of the company's stock, valued at $1,189,910.34. This trade represents a 30.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.
H&R Block Trading Down 0.4 %
HRB traded down $0.26 during trading hours on Thursday, reaching $59.33. 1,072,311 shares of the company's stock traded hands, compared to its average volume of 1,204,286. The firm has a 50-day moving average price of $60.95 and a 200 day moving average price of $57.94. The firm has a market capitalization of $8.13 billion, a PE ratio of 14.47, a PEG ratio of 0.90 and a beta of 0.67. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 16.46. H&R Block, Inc. has a 52-week low of $42.28 and a 52-week high of $68.45.
H&R Block (NYSE:HRB - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.04). H&R Block had a net margin of 16.19% and a negative return on equity of 212.45%. The company had revenue of $193.81 million for the quarter, compared to analysts' expectations of $188.78 million. During the same period in the prior year, the firm posted ($1.05) earnings per share. As a group, sell-side analysts predict that H&R Block, Inc. will post 5.28 EPS for the current fiscal year.
H&R Block Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Thursday, December 5th will be issued a $0.375 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.53%. H&R Block's payout ratio is 36.59%.
H&R Block declared that its Board of Directors has approved a share buyback program on Thursday, August 15th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to purchase up to 16.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.
H&R Block Company Profile
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Free Report)
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. It 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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