State of Michigan Retirement System Sells 700 Shares of H&R Block, Inc. (NYSE:HRB)

State of Michigan Retirement System reduced its stake in shares of H&R Block, Inc. (NYSE:HRB) by 2.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 32,468 shares of the company’s stock after selling 700 shares during the period. State of Michigan Retirement System’s holdings in H&R Block were worth $1,716,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc grew its holdings in H&R Block by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 4,263 shares of the company’s stock worth $225,000 after buying an additional 222 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of H&R Block by 26.8% in the fourth quarter. State of Alaska Department of Revenue now owns 58,628 shares of the company’s stock valued at $3,097,000 after purchasing an additional 12,390 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of H&R Block in the third quarter valued at about $1,821,000. Algert Global LLC lifted its position in shares of H&R Block by 413.1% during the third quarter. Algert Global LLC now owns 72,110 shares of the company’s stock valued at $4,583,000 after purchasing an additional 58,057 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in H&R Block by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,936,829 shares of the company’s stock worth $313,735,000 after purchasing an additional 255,354 shares during the last quarter. 90.14% of the stock is owned by hedge funds and other institutional investors.

H&R Block Price Performance

HRB opened at $55.52 on Friday. H&R Block, Inc. has a fifty-two week low of $45.87 and a fifty-two week high of $68.45. The firm has a 50-day moving average of $53.66 and a 200 day moving average of $58.01. The company has a debt-to-equity ratio of 16.46, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $7.43 billion, a P/E ratio of 15.30, a PEG ratio of 0.80 and a beta of 0.65.

H&R Block (NYSE:HRB) last released its earnings results on Tuesday, February 4th. The company reported ($1.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.59) by ($0.14). H&R Block had a net margin of 14.71% and a negative return on equity of 179.15%. On average, research analysts expect that H&R Block, Inc. will post 5.25 EPS for the current year.

H&R Block Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Tuesday, March 4th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, March 4th. H&R Block’s dividend payout ratio is currently 41.32%.

Analyst Ratings Changes

HRB has been the subject of several analyst reports. StockNews.com lowered shares of H&R Block from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Barrington Research reiterated an “outperform” rating and set a $70.00 price target on shares of H&R Block in a report on Wednesday, February 5th.

H&R Block Profile

H&R Block, Inc engages in the provision of tax return preparation solutions, financial products and small business solutions. The company was founded by Henry W. Bloch and Richard A. Bloch on January 25, 1955, and is headquartered in Kansas City, MO.