Elo Mutual Pension Insurance Co Cuts Stake in Block, Inc. $XYZ

Elo Mutual Pension Insurance Co lessened its holdings in shares of Block, Inc. (NYSE:XYZ) by 30.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,355 shares of the technology company’s stock after selling 12,613 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Block were worth $2,121,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in XYZ. Howard Capital Management Inc. grew its holdings in Block by 3.2% during the 3rd quarter. Howard Capital Management Inc. now owns 4,439 shares of the technology company’s stock valued at $321,000 after buying an additional 138 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Block by 23.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 853 shares of the technology company’s stock worth $66,000 after acquiring an additional 160 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Block by 0.8% during the third quarter. Jones Financial Companies Lllp now owns 21,183 shares of the technology company’s stock valued at $1,561,000 after acquiring an additional 167 shares in the last quarter. Vista Investment Partners II LLC increased its holdings in Block by 3.6% in the 3rd quarter. Vista Investment Partners II LLC now owns 5,334 shares of the technology company’s stock valued at $385,000 after acquiring an additional 184 shares during the last quarter. Finally, Rothschild Investment LLC lifted its stake in Block by 59.7% in the 3rd quarter. Rothschild Investment LLC now owns 495 shares of the technology company’s stock worth $36,000 after purchasing an additional 185 shares in the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

XYZ has been the topic of several research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Block in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Block in a research note on Monday, December 29th. Mizuho increased their target price on Block from $88.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Compass Point raised shares of Block from a “strong sell” rating to a “hold” rating in a report on Friday, November 21st. Finally, Citigroup decreased their price target on shares of Block from $105.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.79.

Block Stock Performance

NYSE:XYZ opened at $65.31 on Thursday. The firm has a market capitalization of $39.69 billion, a PE ratio of 31.10, a PEG ratio of 1.43 and a beta of 2.65. The stock’s fifty day moving average is $61.20 and its 200 day moving average is $67.92. Block, Inc. has a fifty-two week low of $44.27 and a fifty-two week high of $82.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.20 and a current ratio of 2.20.

Block (NYSE:XYZ) last posted its quarterly earnings data on Thursday, February 26th. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.26 by $0.39. Block had a net margin of 5.40% and a return on equity of 6.66%. The company had revenue of $6.25 billion during the quarter. During the same period in the previous year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Block, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In related news, insider Brian Grassadonia sold 10,349 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total value of $517,450.00. Following the sale, the insider directly owned 503,784 shares of the company’s stock, valued at $25,189,200. This represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Owen Britton Jennings sold 822 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $63.98, for a total transaction of $52,591.56. Following the completion of the sale, the insider directly owned 242,718 shares of the company’s stock, valued at approximately $15,529,097.64. The trade was a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 16,797 shares of company stock valued at $940,298. 10.85% of the stock is currently owned by company insiders.

Block Profile

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.