First Trust Advisors LP Decreases Stake in H&R Block, Inc. (NYSE:HRB)

Posted by Defense World Staff on Mar 10th, 2023

First Trust Advisors LP reduced its holdings in H&R Block, Inc. (NYSE:HRB – Get Rating) by 26.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 410,354 shares of the company’s stock after selling 149,386 shares during the period. First Trust Advisors LP owned approximately 0.26% of H&R Block worth $17,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. increased its position in H&R Block by 3.9% during the third quarter. BlackRock Inc. now owns 19,856,128 shares of the company’s stock worth $844,678,000 after purchasing an additional 751,766 shares during the last quarter. Commonwealth Equity Services LLC increased its position in H&R Block by 5.0% during the third quarter. Commonwealth Equity Services LLC now owns 14,810 shares of the company’s stock worth $630,000 after purchasing an additional 699 shares during the last quarter. Macquarie Group Ltd. increased its position in H&R Block by 766.8% during the third quarter. Macquarie Group Ltd. now owns 817,732 shares of the company’s stock worth $34,876,000 after purchasing an additional 723,394 shares during the last quarter. Zacks Investment Management acquired a new stake in H&R Block during the third quarter worth about $3,483,000. Finally, Eaton Vance Management increased its position in H&R Block by 1.1% during the third quarter. Eaton Vance Management now owns 79,569 shares of the company’s stock worth $3,384,000 after purchasing an additional 892 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jeffrey J. Jones II sold 18,009 shares of H&R Block stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $42.11, for a total value of $758,358.99. Following the completion of the transaction, the chief executive officer now owns 657,977 shares in the company, valued at $27,707,411.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

H&R Block Trading Down 2.5 %

NYSE HRB opened at $36.23 on Friday. The firm has a 50 day simple moving average of $37.75 and a 200-day simple moving average of $40.56. The company has a debt-to-equity ratio of 7.03, a quick ratio of 1.20 and a current ratio of 1.20. H&R Block, Inc. has a one year low of $23.65 and a one year high of $48.76. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.75 and a beta of 0.67.

H&R Block (NYSE:HRB – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The company reported ($1.37) EPS for the quarter, beating the consensus estimate of ($1.48) by $0.11. H&R Block had a net margin of 14.57% and a negative return on equity of 337.61%. The business had revenue of $166.40 million during the quarter, compared to analyst estimates of $151.64 million. During the same quarter last year, the firm posted ($1.02) earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts anticipate that H&R Block, Inc. will post 3.84 EPS for the current fiscal year.

H&R Block Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Tuesday, March 7th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Monday, March 6th. H&R Block’s payout ratio is 40.00%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HRB shares. Barrington Research reiterated an “outperform” rating and set a $48.00 price target on shares of H&R Block in a research report on Wednesday, February 8th. The Goldman Sachs Group lifted their price target on shares of H&R Block from $25.00 to $28.00 and gave the company a “sell” rating in a research report on Wednesday, February 8th.

About H&R Block

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H&R Block, Inc engages in the provision of tax preparation and other services. The firm offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or by franchisees. It also develops and markets DIY income tax preparation software online, as well as through third-party retail stores and direct mail, and provides DIY tax services, including federal and state income tax returns, access to tax tips, advice, and tax-related news, use of calculators for tax planning, and error checking and electronic filing.