My Legacy Advisors LLC Makes New $310,000 Investment in H&R Block, Inc. (NYSE:HRB)

My Legacy Advisors LLC purchased a new position in H&R Block, Inc. (NYSE:HRB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,725 shares of the company’s stock, valued at approximately $310,000.

Other hedge funds have also modified their holdings of the company. Mather Group LLC. bought a new position in shares of H&R Block in the first quarter worth approximately $28,000. Richardson Financial Services Inc. bought a new position in shares of H&R Block in the fourth quarter worth approximately $37,000. Versant Capital Management Inc boosted its position in shares of H&R Block by 4,152.9% during the second quarter. Versant Capital Management Inc now owns 723 shares of the company’s stock worth $39,000 after acquiring an additional 706 shares during the last quarter. Assetmark Inc. bought a new position in shares of H&R Block during the fourth quarter worth $43,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of H&R Block during the fourth quarter worth $48,000. 90.14% of the stock is currently owned by institutional investors.

Insider Activity at H&R Block

In related news, CFO Tony G. Bowen sold 79,259 shares of the company’s 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 $5,871,491.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Dara S. Redler sold 9,100 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $64.10, for a total value of $583,310.00. Following the sale, the insider now owns 22,066 shares of the company’s stock, valued at $1,414,430.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 directly owns 90,095 shares in the company, valued at approximately $5,871,491.15. The disclosure for this sale can be found here. Insiders have sold a total of 143,180 shares of company stock valued at $8,841,995 over the last 90 days. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HRB has been the subject of a number of research reports. The Goldman Sachs Group upped their target price on shares of H&R Block from $39.00 to $44.00 and gave the stock a “sell” rating in a research report on Friday, August 16th. StockNews.com lowered shares of H&R Block from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Barrington Research restated an “outperform” rating and set a $60.00 target price on shares of H&R Block in a research report on Wednesday, August 14th.

H&R Block Trading Down 0.5 %

Shares of NYSE:HRB traded down $0.35 during midday trading on Friday, reaching $63.30. 432,891 shares of the company were exchanged, compared to its average volume of 1,145,044. The stock has a market cap of $8.83 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 0.96 and a beta of 0.68. The business’s fifty day moving average is $56.02 and its two-hundred day moving average is $51.21. H&R Block, Inc. has a one year low of $38.70 and a one 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. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. H&R Block had a net margin of 17.87% and a negative return on equity of 224.81%. H&R Block’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 earnings per share. As a group, sell-side analysts expect that H&R Block, Inc. will post 4.29 EPS for the current year.

H&R Block announced that its Board of Directors has authorized a stock buyback plan on Thursday, August 15th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to buy up to 16.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

H&R Block Increases Dividend

The firm 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 dividend of $0.375 per share. This is an increase from H&R Block’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, September 5th. This represents a $1.50 dividend on an annualized basis and a yield of 2.37%. H&R Block’s dividend payout ratio is presently 34.32%.

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.