H&R Block, Inc. (NYSE:HRB) Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its holdings in H&R Block, Inc. (NYSE:HRB) by 542.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,297 shares of the company’s stock after purchasing an additional 1,095 shares during the quarter. Assetmark Inc.’s holdings in H&R Block were worth $82,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in shares of H&R Block by 42.3% during the first quarter. Russell Investments Group Ltd. now owns 49,650 shares of the company’s stock worth $2,438,000 after purchasing an additional 14,760 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of H&R Block by 6.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 68,093 shares of the company’s stock valued at $3,283,000 after acquiring an additional 3,910 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of H&R Block by 3.0% in the first quarter. Intech Investment Management LLC now owns 27,053 shares of the company’s stock valued at $1,329,000 after acquiring an additional 784 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of H&R Block during the first quarter worth about $3,149,000. Finally, Seven Eight Capital LP raised its holdings in H&R Block by 438.9% during the first quarter. Seven Eight Capital LP now owns 37,170 shares of the company’s stock worth $1,825,000 after purchasing an additional 30,273 shares in the last quarter. 90.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other H&R Block news, VP Kellie J. Logerwell sold 8,000 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey J. Jones II sold 9,722 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $63.07, for a total transaction of $613,166.54. Following the completion of the transaction, the chief executive officer now directly owns 893,169 shares of the company’s stock, valued at approximately $56,332,168.83. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

H&R Block Trading Up 1.6 %

Shares of HRB opened at $60.08 on Monday. The firm’s 50-day moving average is $61.74 and its two-hundred day moving average is $57.50. H&R Block, Inc. has a twelve month low of $42.28 and a twelve month high of $68.45. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 16.46. The firm has a market capitalization of $8.23 billion, a P/E ratio of 14.65, a PEG ratio of 0.91 and a beta of 0.67.

H&R Block (NYSE:HRB) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.04). The firm had revenue of $193.81 million during 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 previous year, the business earned ($1.05) earnings per share. On average, research analysts predict that H&R Block, Inc. will post 5.28 earnings per share for the current fiscal year.

H&R Block declared that its Board of Directors has authorized a share 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 buy up to 16.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

H&R Block Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 5th will be issued 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 yield of 2.50%. H&R Block’s dividend payout ratio (DPR) is currently 36.59%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barrington Research reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of H&R Block in a report on Friday, November 8th. StockNews.com lowered H&R Block from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Finally, The Goldman Sachs Group raised their target price on H&R Block from $39.00 to $44.00 and gave the company a “sell” rating in a report on Friday, August 16th.

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.