H&R Block, Inc. (NYSE:HRB) Stake Cut by Sound Income Strategies LLC

Sound Income Strategies LLC decreased its holdings in shares of H&R Block, Inc. (NYSE:HRB) by 12.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 182,832 shares of the company’s stock after selling 25,401 shares during the period. Sound Income Strategies LLC owned about 0.13% of H&R Block worth $11,619,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of HRB. Rockland Trust Co. lifted its stake in H&R Block by 1.2% in the third quarter. Rockland Trust Co. now owns 16,866 shares of the company’s stock valued at $1,072,000 after buying an additional 200 shares during the last quarter. TriaGen Wealth Management LLC lifted its position in H&R Block by 2.4% in the 2nd quarter. TriaGen Wealth Management LLC now owns 8,642 shares of the company’s stock valued at $469,000 after purchasing an additional 203 shares during the last quarter. Bank of Montreal Can boosted its stake in H&R Block by 1.0% during the 2nd quarter. Bank of Montreal Can now owns 24,467 shares of the company’s stock valued at $1,327,000 after purchasing an additional 251 shares during the period. Eagle Bay Advisors LLC grew its position in 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 purchasing an additional 263 shares during the last quarter. Finally, Axiom Advisory LLC increased its position in H&R Block by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 18,048 shares of the company’s stock valued at $1,076,000 after acquiring an additional 282 shares during the period. 90.14% of the stock is owned by institutional investors and hedge funds.

H&R Block Price Performance

HRB stock traded up $0.11 on Friday, hitting $60.90. 1,170,367 shares of the company’s stock traded hands, compared to its average volume of 1,166,443. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 0.95 and a beta of 0.66. H&R Block, Inc. has a 1-year low of $39.20 and a 1-year high of $68.45. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 16.46. The stock has a fifty day moving average of $62.02 and a 200-day moving average of $55.10.

H&R Block (NYSE:HRB) last released its quarterly earnings data on Thursday, August 15th. The company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.15. H&R Block had a negative return on equity of 220.05% and a net margin of 16.49%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $2.05 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that H&R Block, Inc. will post 5.22 EPS for the current fiscal year.

H&R Block announced that its Board of Directors has authorized a share repurchase program on Thursday, August 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to buy up to 16.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

H&R Block Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 5th were given a $0.375 dividend. This is an increase from H&R Block’s previous quarterly dividend of $0.32. This represents a $1.50 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, September 5th. H&R Block’s dividend payout ratio (DPR) is 34.32%.

Insider Buying and Selling

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 value of $639,990.00. Following the completion of the sale, the vice president now directly owns 25,028 shares of the company’s stock, valued at approximately $1,626,820. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other H&R Block news, VP Kellie J. Logerwell sold 9,846 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $65.00, for a total value of $639,990.00. Following the transaction, the vice president now owns 25,028 shares in the company, valued at approximately $1,626,820. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tony G. Bowen sold 79,259 shares of H&R Block 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 directly owns 90,095 shares of the company’s stock, valued at $5,871,491.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,927 shares of company stock valued at $7,517,056. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Barrington Research reiterated an “outperform” rating and issued a $60.00 target price on shares of H&R Block in a research report on Wednesday, August 14th. The Goldman Sachs Group increased their price target on H&R Block from $39.00 to $44.00 and gave the company a “sell” rating in a research note on Friday, August 16th. Finally, StockNews.com downgraded H&R Block from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

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.