Allspring Global Investments Holdings LLC Purchases 941 Shares of H&R Block, Inc. (NYSE:HRB)

Allspring Global Investments Holdings LLC boosted its position in H&R Block, Inc. (NYSE:HRB) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,790 shares of the company’s stock after purchasing an additional 941 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in H&R Block were worth $1,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HRB shares. 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 research report on Friday, August 16th. Barrington Research reaffirmed an “outperform” rating and set a $60.00 price objective on shares of H&R Block in a report on Wednesday, August 14th. Finally, StockNews.com cut H&R Block from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

H&R Block Stock Performance

NYSE:HRB opened at $63.05 on Wednesday. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 0.96 and a beta of 0.68. The business has a 50 day moving average of $57.79 and a 200 day moving average of $52.21. The company has a debt-to-equity ratio of 16.46, a current ratio of 1.27 and a quick ratio of 1.27. H&R Block, Inc. has a 1-year low of $38.70 and a 1-year high of $68.45.

H&R Block (NYSE:HRB) last announced its quarterly earnings data on Thursday, August 15th. The company reported $1.89 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $2.05 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts predict that H&R Block, Inc. will post 5.25 earnings per share for the current fiscal year.

H&R Block Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.375 per share. This is a boost from H&R Block’s previous quarterly dividend of $0.32. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Thursday, September 5th. H&R Block’s dividend payout ratio (DPR) is 34.32%.

H&R Block declared that its Board of Directors has initiated a share repurchase plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at H&R Block

In related news, VP Kellie J. Logerwell sold 9,846 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $65.00, for a total transaction of $639,990.00. Following the completion of the sale, the vice president now directly owns 25,028 shares in the company, valued at approximately $1,626,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Kellie J. Logerwell sold 9,846 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 25,028 shares in the company, valued at approximately $1,626,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey J. Jones II sold 44,975 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $54.55, for a total transaction of $2,453,386.25. Following the sale, the chief executive officer now directly owns 712,386 shares of the company’s stock, valued at approximately $38,860,656.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,180 shares of company stock worth $8,841,995. Company insiders own 1.20% of the company’s stock.

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.