Newbridge Financial Services Group Inc. Sells 450 Shares of H&R Block, Inc. (NYSE:HRB)

Newbridge Financial Services Group Inc. lowered its position in H&R Block, Inc. (NYSE:HRB) by 44.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 555 shares of the company’s stock after selling 450 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in H&R Block were worth $30,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in H&R Block in the 2nd quarter worth about $1,152,000. Truist Financial Corp increased its position in shares of H&R Block by 262.1% in the second quarter. Truist Financial Corp now owns 25,072 shares of the company’s stock worth $1,360,000 after purchasing an additional 18,148 shares during the last quarter. Quarry LP purchased a new stake in H&R Block in the second quarter valued at approximately $85,000. Invst LLC lifted its position in H&R Block by 5.9% during the second quarter. Invst LLC now owns 18,015 shares of the company’s stock valued at $986,000 after purchasing an additional 998 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in H&R Block by 156.3% in the 2nd quarter. NewEdge Advisors LLC now owns 29,220 shares of the company’s stock worth $1,585,000 after buying an additional 17,818 shares in the last quarter. Hedge funds and other institutional investors own 90.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HRB shares. The Goldman Sachs Group lifted their price objective on shares of H&R Block from $39.00 to $44.00 and gave the stock a “sell” rating in a report on Friday, August 16th. Barrington Research reaffirmed an “outperform” rating and set a $60.00 price target on shares of H&R Block in a research note on Wednesday, August 14th. Finally, StockNews.com lowered H&R Block from a “buy” rating to a “hold” rating in a research report on Friday, August 16th.

H&R Block Price Performance

Shares of H&R Block stock opened at $62.48 on Friday. The company has a debt-to-equity ratio of 16.46, a quick ratio of 1.27 and a current ratio of 1.27. H&R Block, Inc. has a 52-week low of $39.20 and a 52-week high of $68.45. The company has a fifty day moving average of $61.39 and a 200-day moving average of $54.41. The stock has a market capitalization of $8.72 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 0.98 and a beta of 0.66.

H&R Block (NYSE:HRB) last posted its quarterly earnings results on Thursday, August 15th. The company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.15. H&R Block had a net margin of 16.49% and a negative return on equity of 220.05%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that H&R Block, Inc. will post 5.22 EPS for the current year.

H&R Block Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 5th were given a $0.375 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.50 annualized dividend and a yield of 2.40%. This is an increase from H&R Block’s previous quarterly dividend of $0.32. H&R Block’s payout ratio is presently 34.32%.

H&R Block announced that its board has approved a stock buyback program on Thursday, August 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to purchase up to 16.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other H&R Block news, CFO Tony G. Bowen sold 79,259 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $65.17, for a total transaction of $5,165,309.03. Following the completion of the sale, the chief financial officer now owns 90,095 shares of the company’s stock, valued at approximately $5,871,491.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other H&R Block news, CFO Tony G. Bowen sold 79,259 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $65.17, for a total transaction of $5,165,309.03. Following the completion of the transaction, the chief financial officer now owns 90,095 shares of the company’s stock, valued at approximately $5,871,491.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kellie J. Logerwell sold 9,846 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $65.00, for a total value of $639,990.00. Following the completion of the sale, the vice president now owns 25,028 shares of the company’s stock, valued at approximately $1,626,820. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,927 shares of company stock valued at $7,517,056. 1.20% of the stock is currently owned by company insiders.

H&R Block Profile

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