H&R Block (NYSE:HRB) Sees Large Volume Increase – Here’s Why

Shares of H&R Block, Inc. (NYSE:HRB) saw unusually-strong trading volume on Tuesday . Approximately 2,069,396 shares traded hands during trading, a decline of 13% from the previous session’s volume of 2,383,632 shares.The stock last traded at $45.9960 and had previously closed at $45.93.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HRB. Stephens assumed coverage on H&R Block in a report on Tuesday, July 28th. They issued an “equal weight” rating and a $47.00 price target on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $50.00 target price on shares of H&R Block in a research report on Monday, April 27th. Weiss Ratings upgraded H&R Block from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Finally, Zacks Research downgraded shares of H&R Block from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, H&R Block presently has a consensus rating of “Hold” and a consensus target price of $43.00.

H&R Block Price Performance

The firm has a market cap of $5.85 billion, a PE ratio of 8.21, a P/E/G ratio of 0.65 and a beta of 0.34. The business has a fifty day moving average price of $39.84 and a two-hundred day moving average price of $35.68.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC increased its position in shares of H&R Block by 34.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,040 shares of the company’s stock worth $40,000 after purchasing an additional 267 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of H&R Block by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 46,171 shares of the company’s stock worth $2,335,000 after acquiring an additional 286 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in H&R Block by 1.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 22,496 shares of the company’s stock worth $980,000 after acquiring an additional 309 shares during the last quarter. Vise Technologies Inc. raised its position in H&R Block by 7.4% in the 3rd quarter. Vise Technologies Inc. now owns 4,486 shares of the company’s stock valued at $227,000 after purchasing an additional 311 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of H&R Block by 54.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 895 shares of the company’s stock worth $34,000 after purchasing an additional 314 shares during the last quarter. Institutional investors own 90.14% of the company’s stock.

About H&R Block

H&R Block (NYSE: HRB) is a leading provider of tax preparation services and software solutions, serving individual and small-business clients through a combination of retail offices, online platforms and mobile applications. The company offers assisted tax preparation at its network of retail offices, where clients work with trained tax professionals, as well as do-it-yourself (DIY) software and online filing services designed to guide users through the complexities of federal and state tax returns.

Founded in 1955 by brothers Henry W.