JPMorgan Chase & Co. raised its stake in H&R Block Inc. (NYSE:HRB) by 9.9% during the second quarter, Holdings Channel reports. The firm owned 434,617 shares of the company’s stock after buying an additional 39,114 shares during the period. JPMorgan Chase & Co. owned 0.20% of H&R Block worth $9,995,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Kleinwort Benson Investors Dublin Ltd acquired a new position in shares of H&R Block during the second quarter valued at $22,065,000. Bank of Montreal Can acquired a new position in shares of H&R Block during the second quarter valued at $9,585,000. Tobam acquired a new position in shares of H&R Block during the first quarter valued at $8,590,000. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of H&R Block by 180.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 480,000 shares of the company’s stock valued at $11,040,000 after buying an additional 309,087 shares during the period. Finally, Gamco Investors INC. ET AL increased its position in shares of H&R Block by 27.8% in the second quarter. Gamco Investors INC. ET AL now owns 1,389,291 shares of the company’s stock valued at $31,954,000 after buying an additional 302,239 shares during the period. Hedge funds and other institutional investors own 93.05% of the company’s stock.
H&R Block Inc. (NYSE:HRB) traded up 0.553% during midday trading on Wednesday, reaching $22.715. The company’s stock had a trading volume of 431,137 shares. H&R Block Inc. has a 52 week low of $19.18 and a 52 week high of $37.53. The company’s 50-day moving average is $22.99 and its 200 day moving average is $23.04. The firm has a market capitalization of $4.98 billion, a P/E ratio of 15.369 and a beta of 0.70.
H&R Block (NYSE:HRB) last issued its quarterly earnings data on Tuesday, August 30th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by $0.02. The firm had revenue of $125 million for the quarter. H&R Block had a negative return on equity of 202.63% and a net margin of 11.58%. The business’s revenue was down 9.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.35) earnings per share. Analysts expect that H&R Block Inc. will post $1.74 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Wednesday, September 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Monday, September 12th. H&R Block’s payout ratio is 52.69%.
Several research analysts recently weighed in on HRB shares. Credit Suisse Group AG restated a “hold” rating and set a $22.00 target price on shares of H&R Block in a research note on Friday, June 10th. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $29.00 price target on shares of H&R Block in a research report on Friday, July 15th. Macquarie started coverage on H&R Block in a research report on Thursday, August 25th. They set an “outperform” rating and a $28.00 price target for the company. Zacks Investment Research cut H&R Block from a “hold” rating to a “sell” rating in a research report on Thursday, September 1st. Finally, Morgan Stanley reaffirmed a “buy” rating and set a $26.00 price target on shares of H&R Block in a research report on Friday, June 10th. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.10.
In other news, SVP Gregory J. Macfarlane acquired 4,618 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were bought at an average price of $21.65 per share, with a total value of $99,979.70. Following the completion of the acquisition, the senior vice president now owns 121,707 shares in the company, valued at approximately $2,634,956.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.
About H&R Block
H&R Block, Inc (H&R Block), through its subsidiaries, provides tax preparation and other services. The Company provides assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions and other services and products related to income tax return preparation to the general public primarily in the United States, Canada, Australia and their respective territories.
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