Insider Selling: H&R Block, Inc. (NYSE:HRB) Insider Sells 9,100 Shares of Stock

H&R Block, Inc. (NYSE:HRB) insider Dara S. Redler sold 9,100 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $64.10, for a total value of $583,310.00. Following the completion of the transaction, the insider now directly owns 22,066 shares in the company, valued at approximately $1,414,430.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

H&R Block Stock Performance

H&R Block stock traded up $1.28 during midday trading on Tuesday, reaching $66.60. 2,067,278 shares of the stock were exchanged, compared to its average volume of 1,141,692. H&R Block, Inc. has a 52 week low of $38.70 and a 52 week high of $68.45. The firm has a market cap of $9.29 billion, a PE ratio of 15.02, a PEG ratio of 0.96 and a beta of 0.68. The company’s fifty day moving average is $55.16 and its 200-day moving average is $50.89.

H&R Block (NYSE:HRB) last posted its quarterly earnings data on Thursday, August 15th. The company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.15. H&R Block had a negative return on equity of 224.81% and a net margin of 17.87%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company earned $2.05 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that H&R Block, Inc. will post 4.29 earnings per share for the current fiscal year.

H&R Block Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.375 per share. This is an increase from H&R Block’s previous quarterly dividend of $0.32. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, September 5th. H&R Block’s payout ratio is currently 34.32%.

H&R Block declared that its board has approved a stock repurchase program on Thursday, August 15th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 16.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. StockNews.com cut H&R Block from a “buy” rating to a “hold” rating in a research note on Friday. Barrington Research reaffirmed an “outperform” rating and set a $60.00 price target on shares of H&R Block in a research report on Wednesday, August 14th. Finally, The Goldman Sachs Group lifted their price objective on H&R Block from $39.00 to $44.00 and gave the stock a “sell” rating in a report on Friday.

Hedge Funds Weigh In On H&R Block

A number of large investors have recently added to or reduced their stakes in the business. TriaGen Wealth Management LLC boosted its stake in shares of H&R Block by 2.4% during the second quarter. TriaGen Wealth Management LLC now owns 8,642 shares of the company’s stock valued at $469,000 after purchasing an additional 203 shares during the period. Bank of Montreal Can boosted its position in H&R Block by 1.0% during the 2nd quarter. Bank of Montreal Can now owns 24,467 shares of the company’s stock valued at $1,327,000 after acquiring an additional 251 shares in the last quarter. Eagle Bay Advisors LLC raised its holdings in H&R Block by 5.5% in the first quarter. Eagle Bay Advisors LLC now owns 5,035 shares of the company’s stock worth $249,000 after purchasing an additional 263 shares in the last quarter. Truist Financial Corp grew its holdings in H&R Block by 4.1% in the fourth quarter. Truist Financial Corp now owns 7,617 shares of the company’s stock worth $368,000 after purchasing an additional 301 shares during the period. Finally, Burney Co. grew its stake in shares of H&R Block by 0.6% in the 2nd quarter. Burney Co. now owns 57,327 shares of the company’s stock worth $3,109,000 after buying an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 90.14% 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.