NewEdge Wealth LLC Grows Position in H&R Block, Inc. (NYSE:HRB)

NewEdge Wealth LLC grew its stake in H&R Block, Inc. (NYSE:HRB) by 11.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,095,712 shares of the company’s stock after buying an additional 113,216 shares during the period. H&R Block makes up 1.0% of NewEdge Wealth LLC’s investment portfolio, making the stock its 16th largest position. NewEdge Wealth LLC’s holdings in H&R Block were worth $57,897,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Coldstream Capital Management Inc. increased its holdings in shares of H&R Block by 4.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,878 shares of the company’s stock valued at $309,000 after purchasing an additional 198 shares in the last quarter. EP Wealth Advisors LLC grew its position in H&R Block by 5.5% during the third quarter. EP Wealth Advisors LLC now owns 4,245 shares of the company’s stock valued at $270,000 after buying an additional 221 shares during the period. CIBC Asset Management Inc increased its holdings in H&R Block by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 4,263 shares of the company’s stock valued at $225,000 after buying an additional 222 shares in the last quarter. GAMMA Investing LLC increased its holdings in H&R Block by 64.5% in the fourth quarter. GAMMA Investing LLC now owns 658 shares of the company’s stock valued at $35,000 after buying an additional 258 shares in the last quarter. Finally, Colonial River Investments LLC raised its position in shares of H&R Block by 7.5% in the fourth quarter. Colonial River Investments LLC now owns 3,860 shares of the company’s stock worth $204,000 after acquiring an additional 268 shares during the period. Hedge funds and other institutional investors own 90.14% of the company’s stock.

H&R Block Stock Performance

NYSE:HRB opened at $53.79 on Thursday. The company has a debt-to-equity ratio of 16.46, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $7.20 billion, a PE ratio of 14.82, a P/E/G ratio of 0.80 and a beta of 0.69. H&R Block, Inc. has a fifty-two week low of $45.87 and a fifty-two week high of $68.45. The company has a fifty day moving average of $53.75 and a two-hundred day moving average of $58.35.

H&R Block (NYSE:HRB) last released its quarterly earnings results on Tuesday, February 4th. The company reported ($1.73) earnings per share for the quarter, missing the consensus estimate of ($1.59) by ($0.14). H&R Block had a negative return on equity of 179.15% and a net margin of 14.71%. As a group, research analysts forecast that H&R Block, Inc. will post 5.25 earnings per share for the current fiscal year.

H&R Block Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Tuesday, March 4th will be given a $0.375 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.50 annualized dividend and a dividend yield of 2.79%. H&R Block’s dividend payout ratio (DPR) is presently 41.32%.

Analysts Set New Price Targets

HRB has been the topic of a number of analyst reports. Barrington Research restated an “outperform” rating and set a $70.00 target price on shares of H&R Block in a research report on Wednesday, February 5th. StockNews.com lowered H&R Block from a “buy” rating to a “hold” rating in a report on Thursday, February 13th.

H&R Block Company Profile

H&R Block, Inc engages in the provision of tax return preparation solutions, financial products and small business solutions. The company was founded by Henry W. Bloch and Richard A. Bloch on January 25, 1955, and is headquartered in Kansas City, MO.