Envestnet Asset Management Inc. Boosts Position in H&R Block, Inc. (NYSE:HRB)

Envestnet Asset Management Inc. boosted its holdings in shares of H&R Block, Inc. (NYSE:HRB) by 6.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 91,686 shares of the company’s stock after buying an additional 5,619 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of H&R Block worth $4,972,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mather Group LLC. purchased a new position in H&R Block during the 1st quarter worth approximately $28,000. Quest Partners LLC raised its position in H&R Block by 2,756.0% during the 2nd quarter. Quest Partners LLC now owns 714 shares of the company’s stock worth $39,000 after buying an additional 689 shares during the last quarter. Versant Capital Management Inc raised its position in H&R Block by 4,152.9% during the 2nd quarter. Versant Capital Management Inc now owns 723 shares of the company’s stock worth $39,000 after buying an additional 706 shares during the last quarter. Richardson Financial Services Inc. purchased a new position in H&R Block during the 4th quarter worth approximately $37,000. Finally, TFO Wealth Partners LLC raised its position in H&R Block by 42,333.3% during the 4th quarter. TFO Wealth Partners LLC now owns 1,273 shares of the company’s stock worth $62,000 after buying an additional 1,270 shares during the last quarter. 90.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at H&R Block

In related news, CFO Tony G. Bowen sold 79,259 shares of H&R Block stock in a transaction on Monday, August 19th. The shares were sold at an average price of $65.17, for a total value of $5,165,309.03. Following the sale, 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 through this hyperlink. In other H&R Block news, CFO Tony G. Bowen sold 79,259 shares of H&R Block 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 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 SEC, which is available at the SEC website. Also, VP Kellie J. Logerwell sold 8,000 shares of H&R Block stock in a transaction on Monday, September 16th. The stock was sold at an average price of $64.41, for a total transaction of $515,280.00. Following the sale, the vice president now directly owns 18,474 shares in the company, valued at approximately $1,189,910.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,927 shares of company stock valued at $7,517,056. 1.20% of the stock is owned by company insiders.

H&R Block Price Performance

NYSE:HRB opened at $63.55 on Tuesday. The company has a debt-to-equity ratio of 16.46, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.98 and a beta of 0.66. The company has a 50 day moving average price of $61.12 and a 200-day moving average price of $54.24. H&R Block, Inc. has a 1-year low of $39.20 and a 1-year high of $68.45.

H&R Block (NYSE:HRB) last released its quarterly earnings results on Thursday, August 15th. The company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company earned $2.05 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts forecast that H&R Block, Inc. will post 5.22 EPS for the current year.

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

H&R Block Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 5th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.50 dividend on an annualized basis and a yield of 2.36%. This is a boost from H&R Block’s previous quarterly dividend of $0.32. H&R Block’s dividend payout ratio (DPR) is currently 34.32%.

Analysts Set New Price Targets

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

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.