Zacks Investment Management Purchases New Shares in H&R Block, Inc. (NYSE:HRB)

Zacks Investment Management acquired a new position in H&R Block, Inc. (NYSE:HRB - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 32,904 shares of the company's stock, valued at approximately $2,091,000.

Other hedge funds have also bought and sold shares of the company. EP Wealth Advisors LLC increased its holdings in H&R Block by 5.5% during the 3rd quarter. EP Wealth Advisors LLC now owns 4,245 shares of the company's stock worth $270,000 after acquiring an additional 221 shares during the period. Stifel Financial Corp increased its holdings in shares of H&R Block by 1.5% in the third quarter. Stifel Financial Corp now owns 64,969 shares of the company's stock worth $4,129,000 after purchasing an additional 988 shares during the period. Quantinno Capital Management LP increased its holdings in shares of H&R Block by 42.7% in the third quarter. Quantinno Capital Management LP now owns 58,709 shares of the company's stock worth $3,731,000 after purchasing an additional 17,580 shares during the period. Point72 DIFC Ltd bought a new stake in H&R Block during the third quarter valued at $738,000. Finally, Point72 Asset Management L.P. purchased a new position in H&R Block during the third quarter worth about $1,821,000. 90.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, VP Kellie J. Logerwell sold 8,000 shares of H&R Block stock in a transaction that occurred 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 directly owns 18,474 shares in the company, valued at approximately $1,189,910.34. This trade 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 the SEC website. Insiders own 1.30% of the company's stock.

H&R Block Price Performance

Shares of NYSE HRB traded up $0.30 during trading hours on Tuesday, reaching $56.32. 1,320,234 shares of the stock traded hands, compared to its average volume of 1,200,382. The company has a market capitalization of $7.72 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66. 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. The company's 50-day simple moving average is $60.06 and its two-hundred day simple moving average is $58.27.

H&R Block (NYSE:HRB - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($1.17) earnings per share for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.04). The firm had revenue of $193.81 million for the quarter, compared to analysts' expectations 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 business posted ($1.05) earnings per share. Equities research analysts forecast that H&R Block, Inc. will post 5.27 EPS for the current year.

H&R Block Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 5th will be paid a $0.375 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.50 dividend on an annualized basis and a yield of 2.66%. H&R Block's dividend payout ratio (DPR) is currently 36.59%.

H&R Block announced that its Board of Directors has authorized a share 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 repurchase up to 16.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

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.