First Trust Advisors LP Sells 132,270 Shares of H&R Block, Inc. (NYSE:HRB)

Posted by Defense World Staff on May 25th, 2023

First Trust Advisors LP trimmed its holdings in H&R Block, Inc. (NYSE:HRB – Get Rating) by 32.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 278,084 shares of the company’s stock after selling 132,270 shares during the period. First Trust Advisors LP owned 0.18% of H&R Block worth $10,153,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of HRB. Trexquant Investment LP increased its position in H&R Block by 41.8% during the third quarter. Trexquant Investment LP now owns 75,241 shares of the company’s stock worth $3,201,000 after buying an additional 22,187 shares during the last quarter. LSV Asset Management boosted its position in H&R Block by 1.4% during the fourth quarter. LSV Asset Management now owns 2,066,081 shares of the company’s stock worth $75,433,000 after purchasing an additional 27,763 shares during the period. Bank of Montreal Can grew its holdings in H&R Block by 23.6% during the fourth quarter. Bank of Montreal Can now owns 32,931 shares of the company’s stock valued at $1,369,000 after purchasing an additional 6,284 shares during the last quarter. Prudential Financial Inc. raised its position in shares of H&R Block by 342.2% in the third quarter. Prudential Financial Inc. now owns 70,344 shares of the company’s stock valued at $3,053,000 after purchasing an additional 54,435 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of H&R Block by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 78,094 shares of the company’s stock worth $2,851,000 after buying an additional 1,977 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of H&R Block from $25.00 to $28.00 and gave the stock a “sell” rating in a report on Wednesday, February 8th. StockNews.com lowered H&R Block from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Finally, Barrington Research decreased their target price on H&R Block from $48.00 to $42.00 in a research note on Wednesday, May 10th.

H&R Block Price Performance

Shares of H&R Block stock opened at $29.67 on Thursday. The company has a market cap of $4.52 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 0.63 and a beta of 0.67. The firm has a fifty day moving average price of $33.17 and a two-hundred day moving average price of $36.98. H&R Block, Inc. has a fifty-two week low of $28.83 and a fifty-two week high of $48.76.

H&R Block (NYSE:HRB – Get Rating) last released its earnings results on Tuesday, May 9th. The company reported $4.20 earnings per share for the quarter, missing the consensus estimate of $4.46 by ($0.26). H&R Block had a net margin of 13.59% and a negative return on equity of 284.65%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the business posted $4.11 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts expect that H&R Block, Inc. will post 3.73 earnings per share for the current fiscal year.

H&R Block Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Wednesday, June 7th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Tuesday, June 6th. H&R Block’s dividend payout ratio is presently 39.06%.

Insider Activity at H&R Block

In other H&R Block news, Director Richard A. Johnson purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were purchased at an average price of $29.54 per share, for a total transaction of $295,400.00. Following the completion of the purchase, the director now directly owns 68,729 shares of the company’s stock, valued at $2,030,254.66. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

H&R Block Company Profile

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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.