Bank of New York Mellon Corp Sells 43,063 Shares of H&R Block, Inc. (NYSE:HRB)

Posted by Defense World Staff on Aug 19th, 2023

Bank of New York Mellon Corp reduced its position in H&R Block, Inc. (NYSE:HRB – Free Report) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,071,490 shares of the company’s stock after selling 43,063 shares during the period. Bank of New York Mellon Corp owned 1.36% of H&R Block worth $73,020,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HRB. Ameritas Advisory Services LLC purchased a new stake in shares of H&R Block in the first quarter worth about $29,000. OLD Mission Capital LLC purchased a new stake in shares of H&R Block in the fourth quarter worth about $33,000. Global Retirement Partners LLC lifted its position in shares of H&R Block by 149.5% in the first quarter. Global Retirement Partners LLC now owns 1,355 shares of the company’s stock worth $44,000 after buying an additional 812 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of H&R Block in the fourth quarter worth about $50,000. Finally, Machina Capital S.A.S. purchased a new stake in shares of H&R Block in the first quarter worth about $53,000. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jeffrey J. Jones II sold 91,192 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $38.00, for a total transaction of $3,465,296.00. Following the transaction, the chief executive officer now owns 812,150 shares of the company’s stock, valued at $30,861,700. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. StockNews.com assumed coverage on H&R Block in a research report on Thursday. They issued a “hold” rating on the stock. Barrington Research upped their price objective on H&R Block from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on H&R Block from $28.00 to $32.00 and gave the company a “sell” rating in a research report on Wednesday.

View Our Latest Research Report on H&R Block

H&R Block Price Performance

Shares of HRB stock opened at $39.40 on Friday. H&R Block, Inc. has a 1 year low of $28.83 and a 1 year high of $48.32. The stock’s 50 day simple moving average is $33.50 and its two-hundred day simple moving average is $34.09. The company has a market cap of $6.00 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 0.75 and a beta of 0.67.

H&R Block (NYSE:HRB – Get Free Report) last issued its quarterly earnings data on Tuesday, August 15th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. H&R Block had a negative return on equity of 191.27% and a net margin of 15.95%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 earnings per share. Equities research analysts expect that H&R Block, Inc. will post 4.15 EPS for the current year.

H&R Block Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Thursday, September 7th will be paid a dividend of $0.32 per share. This is a boost from H&R Block’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.25%. H&R Block’s dividend payout ratio is currently 32.49%.

H&R Block Profile

(Free Report)

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. The company offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or its franchisees.