Artisan Partners Limited Partnership trimmed its position in H&R Block, Inc. (NYSE:HRB – Get Rating) by 24.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,966,343 shares of the company’s stock after selling 625,674 shares during the period. Artisan Partners Limited Partnership owned 1.23% of H&R Block worth $69,451,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truist Financial Corp grew its holdings in H&R Block by 9.9% in the first quarter. Truist Financial Corp now owns 12,462 shares of the company’s stock worth $325,000 after purchasing an additional 1,119 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of H&R Block by 0.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 122,597 shares of the company’s stock worth $3,192,000 after buying an additional 999 shares during the last quarter. Victory Capital Management Inc. increased its position in H&R Block by 37.7% during the 1st quarter. Victory Capital Management Inc. now owns 594,441 shares of the company’s stock valued at $15,497,000 after buying an additional 162,618 shares in the last quarter. Prospera Financial Services Inc purchased a new position in H&R Block during the first quarter valued at $71,000. Finally, Green Square Capital Advisors LLC boosted its holdings in H&R Block by 4.6% in the first quarter. Green Square Capital Advisors LLC now owns 77,452 shares of the company’s stock worth $2,017,000 after acquiring an additional 3,418 shares in the last quarter. 87.06% of the stock is owned by hedge funds and other institutional investors.
H&R Block Trading Down 1.4 %
Shares of HRB stock opened at $42.59 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 7.03. H&R Block, Inc. has a 12-month low of $21.08 and a 12-month high of $48.76. The stock has a market capitalization of $6.62 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.91 and a beta of 0.60. The firm’s 50 day moving average is $41.44 and its 200 day moving average is $39.47.
H&R Block Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Tuesday, December 6th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Monday, December 5th. H&R Block’s payout ratio is currently 35.69%.
H&R Block announced that its board has initiated a stock buyback plan on Tuesday, August 9th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the company to buy up to 17.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their price target on H&R Block from $22.60 to $25.00 and gave the company a “sell” rating in a report on Thursday, November 3rd. Barrington Research lifted their target price on shares of H&R Block from $40.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, August 10th. StockNews.com assumed coverage on shares of H&R Block in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, TheStreet downgraded H&R Block from a “b” rating to a “d+” rating in a research note on Tuesday, November 1st.
Insider Transactions at H&R Block
In related news, insider Karen A. Orosco sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $45.00, for a total value of $2,250,000.00. Following the transaction, the insider now owns 89,733 shares of the company’s stock, valued at $4,037,985. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.
About H&R Block
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.
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