Bank of New York Mellon Corp Sells 14,324 Shares of H&R Block, Inc. (NYSE:HRB)

Bank of New York Mellon Corp reduced its stake in shares of H&R Block, Inc. (NYSE:HRB) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,748,095 shares of the company’s stock after selling 14,324 shares during the period. Bank of New York Mellon Corp’s holdings in H&R Block were worth $94,799,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. TriaGen Wealth Management LLC raised its position in H&R Block by 2.4% during the 2nd quarter. TriaGen Wealth Management LLC now owns 8,642 shares of the company’s stock worth $469,000 after purchasing an additional 203 shares during the last quarter. Eagle Bay Advisors LLC raised its position in shares of H&R Block by 5.5% in the 1st quarter. Eagle Bay Advisors LLC now owns 5,035 shares of the company’s stock worth $249,000 after acquiring an additional 263 shares in the last quarter. Truist Financial Corp raised its position in shares of H&R Block by 4.1% in the 4th quarter. Truist Financial Corp now owns 7,617 shares of the company’s stock worth $368,000 after acquiring an additional 301 shares in the last quarter. New York Life Investment Management LLC raised its position in shares of H&R Block by 2.5% in the 4th quarter. New York Life Investment Management LLC now owns 16,556 shares of the company’s stock worth $801,000 after acquiring an additional 411 shares in the last quarter. Finally, Ascent Group LLC raised its position in shares of H&R Block by 2.8% in the 1st quarter. Ascent Group LLC now owns 18,451 shares of the company’s stock worth $906,000 after acquiring an additional 498 shares in the last quarter. 90.14% of the stock is owned by institutional investors.

Insider Buying and Selling at H&R Block

In other H&R Block news, insider Dara S. Redler sold 9,100 shares of H&R Block stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $64.10, for a total transaction of $583,310.00. Following the completion of the transaction, the insider now owns 22,066 shares in the company, valued at approximately $1,414,430.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other H&R Block news, VP Kellie J. Logerwell sold 9,846 shares of H&R Block stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $65.00, for a total transaction of $639,990.00. Following the transaction, the vice president now owns 25,028 shares of the company’s stock, valued at approximately $1,626,820. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dara S. Redler sold 9,100 shares of H&R Block stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $64.10, for a total transaction of $583,310.00. Following the transaction, the insider now directly owns 22,066 shares in the company, valued at approximately $1,414,430.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,180 shares of company stock worth $8,841,995. Insiders own 1.20% of the company’s stock.

H&R Block Price Performance

Shares of HRB opened at $64.04 on Thursday. The stock has a 50-day moving average of $56.97 and a 200-day moving average of $51.72. The company has a market cap of $8.94 billion, a PE ratio of 14.65, a P/E/G ratio of 0.96 and a beta of 0.68. 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 issued its earnings results on Thursday, August 15th. The company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.74 by $0.15. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. H&R Block had a negative return on equity of 224.81% and a net margin of 17.87%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $2.05 EPS. Analysts expect that H&R Block, Inc. will post 4.29 EPS for the current fiscal year.

H&R Block declared that its board has approved a stock buyback program on Thursday, August 15th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 16.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

H&R Block Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.375 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.50 dividend on an annualized basis and a yield of 2.34%. This is an increase from H&R Block’s previous quarterly dividend of $0.32. H&R Block’s payout ratio is 34.32%.

Wall Street Analyst Weigh In

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

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