Envestnet Portfolio Solutions Inc. lessened its stake in shares of H&R Block, Inc. (NYSE:HRB – Free Report) by 24.6% in the first quarter, HoldingsChannel.com reports. The firm owned 7,154 shares of the company’s stock after selling 2,331 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in H&R Block were worth $393,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in HRB. Boston Partners boosted its stake in shares of H&R Block by 58.5% during the fourth quarter. Boston Partners now owns 4,500,552 shares of the company’s stock valued at $237,814,000 after purchasing an additional 1,660,319 shares during the period. Norges Bank purchased a new stake in shares of H&R Block during the fourth quarter valued at approximately $57,253,000. Lazard Asset Management LLC boosted its stake in shares of H&R Block by 36.8% during the fourth quarter. Lazard Asset Management LLC now owns 2,585,026 shares of the company’s stock valued at $136,591,000 after purchasing an additional 695,581 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of H&R Block by 12.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,701,896 shares of the company’s stock valued at $248,448,000 after purchasing an additional 523,353 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of H&R Block by 88.3% during the fourth quarter. Bank of America Corp DE now owns 914,884 shares of the company’s stock valued at $48,342,000 after purchasing an additional 429,101 shares during the period. Hedge funds and other institutional investors own 90.14% of the company’s stock.
Insiders Place Their Bets
In other news, CEO Jeffrey J. Jones II sold 53,810 shares of the firm’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $63.28, for a total transaction of $3,405,096.80. Following the completion of the transaction, the chief executive officer now directly owns 844,790 shares in the company, valued at $53,458,311.20. This trade represents a 5.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.
H&R Block Stock Up 0.8%
H&R Block (NYSE:HRB – Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $5.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.12 by $0.26. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. H&R Block had a negative return on equity of 179.57% and a net margin of 15.20%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.94 earnings per share. Equities research analysts anticipate that H&R Block, Inc. will post 5.25 earnings per share for the current year.
H&R Block Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be issued a $0.375 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.50 dividend on an annualized basis and a yield of 2.74%. H&R Block’s dividend payout ratio (DPR) is 36.76%.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Barrington Research reaffirmed an “outperform” rating and issued a $70.00 price target on shares of H&R Block in a research note on Friday, April 25th. Northcoast Research lowered H&R Block from a “buy” rating to a “neutral” rating in a research note on Friday, May 2nd. The Goldman Sachs Group raised their price target on H&R Block from $49.00 to $54.00 and gave the stock a “sell” rating in a research note on Thursday, May 8th. Finally, Wall Street Zen raised H&R Block from a “hold” rating to a “buy” rating in a research note on Friday, May 9th.
Read Our Latest Report on H&R Block
About H&R Block
H&R Block, Inc engages in the provision of tax return preparation solutions, financial products and small business solutions. The company was founded by Henry W. Bloch and Richard A. Bloch on January 25, 1955, and is headquartered in Kansas City, MO.
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