Assetmark Inc. Boosts Stake in H&R Block, Inc. (NYSE:HRB)

Assetmark Inc. grew its position in shares of H&R Block, Inc. (NYSE:HRB) by 542.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,297 shares of the company’s stock after acquiring an additional 1,095 shares during the quarter. Assetmark Inc.’s holdings in H&R Block were worth $82,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Eastern Bank acquired a new stake in H&R Block during the 3rd quarter worth approximately $25,000. Bogart Wealth LLC increased its position in shares of H&R Block by 606.1% in the third quarter. Bogart Wealth LLC now owns 466 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of H&R Block in the 3rd quarter valued at $35,000. Versant Capital Management Inc lifted its holdings in shares of H&R Block by 4,152.9% during the 2nd quarter. Versant Capital Management Inc now owns 723 shares of the company’s stock valued at $39,000 after acquiring an additional 706 shares in the last quarter. Finally, Quest Partners LLC boosted 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 purchasing an additional 689 shares during the period. 90.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com cut H&R Block from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. The Goldman Sachs Group raised their target price on H&R Block from $39.00 to $44.00 and gave the company a “sell” rating in a report on Friday, August 16th. Finally, Barrington Research restated an “outperform” rating and issued a $70.00 price target on shares of H&R Block in a report on Friday, November 8th.

Insider Buying and Selling

In other H&R Block news, VP Kellie J. Logerwell sold 8,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $64.41, for a total transaction of $515,280.00. Following the completion of the sale, the vice president now owns 18,474 shares in the company, valued at $1,189,910.34. The trade was a 30.22 % decrease in their ownership of the stock. 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 9,722 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $63.07, for a total transaction of $613,166.54. Following the sale, the chief executive officer now directly owns 893,169 shares in the company, valued at $56,332,168.83. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

H&R Block Stock Performance

Shares of HRB stock opened at $60.08 on Monday. The company has a debt-to-equity ratio of 16.46, a current ratio of 0.77 and a quick ratio of 0.77. The company’s fifty day moving average price is $61.74 and its two-hundred day moving average price is $57.50. The firm has a market capitalization of $8.23 billion, a P/E ratio of 14.65, a P/E/G ratio of 0.91 and a beta of 0.67. H&R Block, Inc. has a 12 month low of $42.28 and a 12 month high of $68.45.

H&R Block (NYSE:HRB) last released its quarterly earnings results on Thursday, November 7th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.04). H&R Block had a negative return on equity of 212.45% and a net margin of 16.19%. The business had revenue of $193.81 million during the quarter, compared to analyst estimates of $188.78 million. During the same quarter last year, the firm posted ($1.05) EPS. On average, research analysts anticipate that H&R Block, Inc. will post 5.28 earnings per share for the current fiscal year.

H&R Block Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, December 5th. H&R Block’s payout ratio is currently 36.59%.

H&R Block declared that its Board of Directors has approved a share buyback plan 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

H&R Block Company 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.