Texas Permanent School Fund lowered its stake in shares of H & R Block Inc (NYSE:HRB) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,137 shares of the company’s stock after selling 4,915 shares during the quarter. Texas Permanent School Fund’s holdings in H & R Block were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of HRB. Tower Research Capital LLC TRC boosted its position in H & R Block by 103.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock valued at $106,000 after purchasing an additional 2,369 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in H & R Block during the second quarter valued at about $109,000. Caption Management LLC bought a new stake in H & R Block during the second quarter valued at about $114,000. Flagship Harbor Advisors LLC bought a new stake in H & R Block during the second quarter valued at about $137,000. Finally, First Hawaiian Bank acquired a new stake in H & R Block in the third quarter worth about $137,000. 95.08% of the stock is currently owned by institutional investors.
In other H & R Block news, insider Thomas A. Gerke sold 70,000 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $26.54, for a total value of $1,857,800.00. Following the completion of the sale, the insider now owns 68,073 shares of the company’s stock, valued at $1,806,657.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by company insiders.
Several equities research analysts have weighed in on the company. ValuEngine raised H & R Block from a “strong sell” rating to a “sell” rating in a report on Thursday, August 30th. Zacks Investment Research downgraded H & R Block from a “buy” rating to a “hold” rating in a report on Friday, August 31st. Barrington Research reissued a “buy” rating and issued a $27.00 price target on shares of H & R Block in a report on Thursday, August 23rd. Finally, Morgan Stanley lowered their price target on H & R Block from $27.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. H & R Block presently has an average rating of “Hold” and an average target price of $25.67.
Shares of NYSE HRB opened at $28.73 on Friday. The company has a debt-to-equity ratio of 7.79, a current ratio of 2.27 and a quick ratio of 2.27. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 1.48 and a beta of 0.07. H & R Block Inc has a fifty-two week low of $22.45 and a fifty-two week high of $29.81.
H & R Block (NYSE:HRB) last issued its quarterly earnings results on Tuesday, August 28th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.05. The business had revenue of $145.00 million during the quarter, compared to the consensus estimate of $137.57 million. H & R Block had a negative return on equity of 461.55% and a net margin of 18.66%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.62) earnings per share. On average, equities analysts anticipate that H & R Block Inc will post 1.91 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, November 30th. H & R Block’s dividend payout ratio is presently 33.56%.
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About H & R Block
H&R Block, Inc engages in the provision of tax preparation and other services. It offers assisted and do-it-yourself tax return preparation solutions through multiple channels and distribute the H&R block-branded financial products and services, including those of its financial partners, to the general public primarily in the United States, Canada, and Australia.
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