Blue Whale Capital LLP Acquires 92,500 Shares of H&R Block, Inc. (NYSE:HRB)

Blue Whale Capital LLP increased its stake in shares of H&R Block, Inc. (NYSE:HRB - Free Report) by 14.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 742,500 shares of the company's stock after buying an additional 92,500 shares during the quarter. H&R Block accounts for about 3.5% of Blue Whale Capital LLP's investment portfolio, making the stock its 13th largest position. Blue Whale Capital LLP owned 0.53% of H&R Block worth $40,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Lazard Asset Management LLC raised its position in H&R Block by 11.8% in the 1st quarter. Lazard Asset Management LLC now owns 5,295,911 shares of the company's stock valued at $260,081,000 after purchasing an additional 558,076 shares during the last quarter. Boston Partners raised its position in H&R Block by 30.2% in the 1st quarter. Boston Partners now owns 3,270,919 shares of the company's stock valued at $160,614,000 after purchasing an additional 758,827 shares during the last quarter. Pacer Advisors Inc. raised its position in H&R Block by 52.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,738,190 shares of the company's stock valued at $148,492,000 after purchasing an additional 939,270 shares during the last quarter. Dimensional Fund Advisors LP raised its position in H&R Block by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,484,417 shares of the company's stock valued at $134,726,000 after purchasing an additional 23,792 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of H&R Block during the fourth quarter worth $82,605,000. Institutional investors own 90.14% of the company's stock.

H&R Block Trading Up 1.2 %

Shares of H&R Block stock traded up $0.78 during trading on Friday, reaching $64.46. 2,641,021 shares of the company were exchanged, compared to its average volume of 1,166,104. H&R Block, Inc. has a twelve month low of $39.20 and a twelve month high of $68.45. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 16.46. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 0.96 and a beta of 0.66. The business has a 50-day moving average price of $60.20 and a 200-day moving average price of $53.54.

H&R Block (NYSE:HRB - Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.15. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.03 billion. H&R Block had a negative return on equity of 220.05% and a net margin of 16.49%. H&R Block's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. Sell-side analysts anticipate 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. Investors of record on Thursday, September 5th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.33%. The ex-dividend date 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 is presently 34.32%.

H&R Block announced that its board has initiated a stock repurchase plan on Thursday, August 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 16.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

HRB has been the subject of a number of recent research reports. Barrington Research restated an "outperform" rating and set a $60.00 target price on shares of H&R Block in a research report on Wednesday, August 14th. The Goldman Sachs Group boosted their target price on H&R Block from $39.00 to $44.00 and gave the stock a "sell" rating in a research report on Friday, August 16th. Finally, StockNews.com downgraded H&R Block from a "buy" rating to a "hold" rating in a research report on Friday, August 16th.

Insider Buying and Selling

In related news, VP Kellie J. Logerwell sold 8,000 shares of the company's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $64.41, for a total transaction of $515,280.00. Following the sale, the vice president now owns 18,474 shares in the company, valued at $1,189,910.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Kellie J. Logerwell sold 8,000 shares of the company's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $64.41, for a total transaction of $515,280.00. Following the sale, the vice president now owns 18,474 shares in the company, valued at $1,189,910.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey J. Jones II sold 44,975 shares of the company's 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 completion of the sale, the chief executive officer now owns 712,386 shares in the company, valued at approximately $38,860,656.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,902 shares of company stock worth $9,970,442. Corporate insiders own 1.20% of the company's stock.

About H&R Block

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.