H&R Block, Inc. (NYSE:HRB) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC cut its stake in H&R Block, Inc. (NYSE:HRB - Free Report) by 31.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,350 shares of the company's stock after selling 34,308 shares during the period. Redwood Investment Management LLC owned about 0.06% of H&R Block worth $4,858,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HRB. Eastern Bank bought a new position in H&R Block during the 3rd quarter worth about $25,000. Bogart Wealth LLC lifted its position 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 purchasing an additional 400 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of H&R Block in the 3rd quarter worth approximately $34,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of H&R Block during the third quarter valued at approximately $35,000. Finally, Quest Partners LLC increased its holdings in H&R Block by 2,756.0% during the second quarter. Quest Partners LLC now owns 714 shares of the company's stock valued at $39,000 after buying an additional 689 shares during the period. 90.14% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Kellie J. Logerwell sold 8,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $64.41, for a total value of $515,280.00. Following the transaction, the vice president now owns 18,474 shares in the company, valued at approximately $1,189,910.34. This represents a 30.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company's stock.

H&R Block Stock Down 1.4 %

Shares of HRB stock traded down $0.80 during trading hours on Thursday, reaching $57.35. 899,675 shares of the company's stock were exchanged, compared to its average volume of 1,201,427. H&R Block, Inc. has a fifty-two week low of $42.28 and a fifty-two week high of $68.45. The stock's 50 day moving average is $60.46 and its 200-day moving average is $58.15. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 16.46. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 0.88 and a beta of 0.66.

H&R Block (NYSE:HRB - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.04). The business had revenue of $193.81 million for the quarter, compared to analyst estimates of $188.78 million. H&R Block had a net margin of 16.19% and a negative return on equity of 212.45%. During the same period in the prior year, the company earned ($1.05) earnings per share. Analysts predict that H&R Block, Inc. will post 5.27 earnings per share for the current fiscal year.

H&R Block declared that its Board of Directors has authorized a stock buyback program on Thursday, August 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 16.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

H&R Block Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.50 annualized dividend and a dividend yield of 2.62%. H&R Block's dividend payout ratio (DPR) is currently 36.59%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barrington Research reaffirmed an "outperform" rating and set a $70.00 target price on shares of H&R Block in a research report on Friday, November 8th. StockNews.com lowered H&R Block from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Finally, The Goldman Sachs Group increased their price target on shares of H&R Block from $39.00 to $44.00 and gave the company a "sell" rating in a research report on Friday, August 16th.

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.