Sound Income Strategies LLC Has $11.62 Million Stake in H&R Block, Inc. (NYSE:HRB)

Sound Income Strategies LLC trimmed its position in H&R Block, Inc. (NYSE:HRB - Free Report) by 12.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,832 shares of the company's stock after selling 25,401 shares during the period. Sound Income Strategies LLC owned approximately 0.13% of H&R Block worth $11,619,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. bought a new position in shares of H&R Block during the first quarter valued at approximately $28,000. Richardson Financial Services Inc. purchased a new stake in shares of H&R Block in the 4th quarter valued at $37,000. Versant Capital Management Inc lifted its holdings in H&R Block by 4,152.9% during the second quarter. Versant Capital Management Inc now owns 723 shares of the company's stock valued at $39,000 after purchasing an additional 706 shares in the last quarter. Quest Partners LLC increased its position in H&R Block by 2,756.0% during the second quarter. Quest Partners LLC now owns 714 shares of the company's stock worth $39,000 after purchasing an additional 689 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of H&R Block in the 2nd quarter valued at approximately $85,000. Institutional investors and hedge funds own 90.14% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on HRB. StockNews.com downgraded shares of H&R Block from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. The Goldman Sachs Group lifted their price objective on shares of H&R Block from $39.00 to $44.00 and gave the company a "sell" rating in a research note on Friday, August 16th. Finally, Barrington Research reissued an "outperform" rating and issued a $60.00 price target on shares of H&R Block in a research note on Wednesday, August 14th.

H&R Block Stock Up 0.2 %

Shares of HRB traded up $0.11 during mid-day trading on Friday, reaching $60.90. The company had a trading volume of 1,170,367 shares, compared to its average volume of 1,166,443. The company has a debt-to-equity ratio of 16.46, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 0.95 and a beta of 0.66. H&R Block, Inc. has a 52 week low of $39.20 and a 52 week high of $68.45. The firm has a 50-day moving average price of $62.02 and a 200 day moving average price of $55.14.

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

H&R Block Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 5th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.46%. This is an increase from H&R Block's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, September 5th. H&R Block's dividend payout ratio is 34.32%.

H&R Block declared that its board has initiated a stock repurchase plan on Thursday, August 15th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 16.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at H&R Block

In other news, CEO Jeffrey J. Jones II sold 9,722 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $63.07, for a total value of $613,166.54. Following the sale, the chief executive officer now owns 893,169 shares in the company, valued at approximately $56,332,168.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other H&R Block 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 value of $515,280.00. Following the transaction, the vice president now directly owns 18,474 shares in the company, valued at $1,189,910.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey J. Jones II sold 9,722 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 893,169 shares of the company's stock, valued at approximately $56,332,168.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,927 shares of company stock worth $7,517,056 in the last 90 days. 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.