Strategy Asset Managers LLC Acquires New Stake in H&R Block, Inc. (NYSE:HRB)

Strategy Asset Managers LLC acquired a new position in H&R Block, Inc. (NYSE:HRB) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,864 shares of the company’s stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also bought and sold shares of HRB. Eastern Bank bought a new position in shares of H&R Block in the 3rd quarter worth $25,000. Bogart Wealth LLC raised its holdings in shares of H&R Block by 606.1% during the 3rd quarter. Bogart Wealth LLC now owns 466 shares of the company’s stock valued at $30,000 after buying an additional 400 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in H&R Block in the 3rd quarter worth approximately $35,000. Versant Capital Management Inc grew its holdings in shares of H&R Block by 4,152.9% during the 2nd quarter. Versant Capital Management Inc now owns 723 shares of the company’s stock valued at $39,000 after purchasing an additional 706 shares during the last quarter. Finally, Quest Partners LLC raised its position in H&R Block by 2,756.0% in the 2nd quarter. Quest Partners LLC now owns 714 shares of the company’s stock worth $39,000 after purchasing an additional 689 shares during the period. 90.14% of the stock is owned by hedge funds and other institutional investors.

H&R Block Price Performance

Shares of H&R Block stock opened at $56.87 on Friday. The business has a 50 day moving average of $61.29 and a 200 day moving average of $57.62. H&R Block, Inc. has a 52 week low of $42.28 and a 52 week high of $68.45. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 16.46. The company has a market cap of $7.79 billion, a PE ratio of 13.87, a P/E/G ratio of 0.84 and a beta of 0.67.

H&R Block (NYSE:HRB) last released its quarterly earnings results on Thursday, November 7th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.04). The company had revenue of $193.81 million during the quarter, compared to the consensus estimate of $188.78 million. H&R Block had a negative return on equity of 212.45% and a net margin of 16.19%. During the same period in the previous year, the company earned ($1.05) earnings per share. As a group, equities research analysts forecast that H&R Block, Inc. will post 5.28 earnings per share for the current year.

H&R Block Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Thursday, December 5th will be given 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 2.64%. H&R Block’s dividend payout ratio is presently 36.59%.

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO Jeffrey J. Jones II sold 9,722 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $63.07, for a total value of $613,166.54. Following the transaction, the chief executive officer now owns 893,169 shares in the company, valued at $56,332,168.83. The trade was a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kellie J. Logerwell sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $64.41, for a total transaction of $515,280.00. Following the sale, the vice president now directly owns 18,474 shares of the company’s stock, valued at $1,189,910.34. This trade represents a 30.22 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.