Seven Eight Capital LP Decreases Stock Position in H&R Block, Inc. (NYSE:HRB)

Seven Eight Capital LP cut its position in H&R Block, Inc. (NYSE:HRB - Free Report) by 42.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,510 shares of the company's stock after selling 15,660 shares during the quarter. Seven Eight Capital LP's holdings in H&R Block were worth $1,166,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC grew its stake in H&R Block by 11.8% during the first quarter. Lazard Asset Management LLC now owns 5,295,911 shares of the company's stock worth $260,081,000 after purchasing an additional 558,076 shares during the period. Boston Partners grew its stake in H&R Block by 30.2% during the first quarter. Boston Partners now owns 3,270,919 shares of the company's stock worth $160,614,000 after purchasing an additional 758,827 shares during the period. Dimensional Fund Advisors LP grew its stake in H&R Block by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,484,417 shares of the company's stock worth $134,726,000 after purchasing an additional 23,792 shares during the period. Norges Bank acquired a new stake in H&R Block during the fourth quarter worth approximately $82,605,000. Finally, BNP Paribas Financial Markets grew its stake in H&R Block by 4.5% during the first quarter. BNP Paribas Financial Markets now owns 817,621 shares of the company's stock worth $40,153,000 after purchasing an additional 35,333 shares during the period. 90.14% of the stock is currently owned by institutional investors.

H&R Block Stock Up 1.2 %

NYSE:HRB traded up $0.76 on Friday, hitting $64.44. The stock had a trading volume of 2,641,021 shares, compared to its average volume of 1,166,104. The business's fifty day moving average is $59.98 and its 200 day moving average is $53.41. The company has a market cap of $8.99 billion, a PE ratio of 14.75, a P/E/G ratio of 0.96 and a beta of 0.66. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 16.46. H&R Block, Inc. has a 52 week low of $39.20 and a 52 week high of $68.45.

H&R Block (NYSE:HRB - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.15. H&R Block had a negative return on equity of 220.05% and a net margin of 16.49%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. The company's quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts expect that H&R Block, Inc. will post 5.22 EPS for the current fiscal year.

H&R Block Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 5th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, September 5th. This is a positive change from H&R Block's previous quarterly dividend of $0.32. H&R Block's dividend payout ratio (DPR) is currently 34.32%.

H&R Block announced that its Board of Directors has approved a share buyback plan on Thursday, August 15th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to repurchase up to 16.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. The Goldman Sachs Group raised their target price on H&R Block from $39.00 to $44.00 and gave the stock a "sell" rating in a research note on Friday, August 16th. StockNews.com lowered H&R Block from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Finally, Barrington Research reiterated an "outperform" rating and issued a $60.00 price target on shares of H&R Block in a report on Wednesday, August 14th.

Insider Activity

In other news, CFO Tony G. Bowen sold 79,259 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $65.17, for a total value of $5,165,309.03. Following the transaction, the chief financial officer now owns 90,095 shares in the company, valued at $5,871,491.15. The transaction 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 79,259 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $65.17, for a total transaction of $5,165,309.03. Following the completion of the sale, the chief financial officer now directly owns 90,095 shares of the company's stock, valued at $5,871,491.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey J. Jones II sold 44,975 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $54.55, for a total value of $2,453,386.25. Following the sale, the chief executive officer now directly owns 712,386 shares of the company's stock, valued at $38,860,656.30. The disclosure for this sale can be found here. Insiders have sold 160,902 shares of company stock worth $9,970,442 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

H&R Block Profile

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.