PNC Financial Services Group Inc. Has $1.15 Million Stock Position in H&R Block, Inc. (NYSE:HRB)

PNC Financial Services Group Inc. lessened its stake in H&R Block, Inc. (NYSE:HRB) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,108 shares of the company’s stock after selling 1,638 shares during the quarter. PNC Financial Services Group Inc.’s holdings in H&R Block were worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Eastern Bank acquired a new stake in shares of H&R Block in the third quarter valued at approximately $25,000. Bogart Wealth LLC lifted its holdings in H&R Block by 606.1% during the 3rd quarter. Bogart Wealth LLC now owns 466 shares of the company’s stock worth $30,000 after buying an additional 400 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in H&R Block in the 3rd quarter valued at $35,000. Versant Capital Management Inc increased its stake in shares of H&R Block by 4,152.9% in the 2nd quarter. Versant Capital Management Inc now owns 723 shares of the company’s stock valued at $39,000 after buying an additional 706 shares during the period. Finally, Quest Partners LLC raised its position in shares of H&R Block by 2,756.0% during the second quarter. Quest Partners LLC now owns 714 shares of the company’s stock worth $39,000 after acquiring an additional 689 shares during the last quarter. 90.14% of the stock is owned by institutional investors.

H&R Block Stock Down 0.3 %

Shares of H&R Block stock opened at $59.39 on Thursday. The business has a fifty day simple moving average of $61.02 and a 200 day simple moving average of $57.93. The stock has a market cap of $8.14 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 0.90 and a beta of 0.67. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 16.46. H&R Block, Inc. has a 12 month low of $42.28 and a 12 month high of $68.45.

H&R Block (NYSE:HRB) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($1.17) 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 net margin of 16.19% and a negative return on equity of 212.45%. During the same period last year, the company earned ($1.05) earnings per share. Research analysts predict that H&R Block, Inc. will post 5.28 EPS for the current year.

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

H&R Block Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Thursday, December 5th will be given a $0.375 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.50 annualized dividend and a dividend yield of 2.53%. H&R Block’s dividend payout ratio is presently 36.59%.

Insider Buying and Selling

In other news, VP Kellie J. Logerwell sold 8,000 shares of the 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 completion of the transaction, the vice president now directly owns 18,474 shares in the company, valued at $1,189,910.34. This represents a 30.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey J. Jones II sold 9,722 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $63.07, for a total value of $613,166.54. Following the sale, the chief executive officer now owns 893,169 shares in the company, 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 owned by company insiders.

Wall Street Analyst Weigh In

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

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.