1620 Investment Advisors Inc. Sells 3,921 Shares of H&R Block, Inc. (NYSE:HRB)

1620 Investment Advisors Inc. decreased its holdings in H&R Block, Inc. (NYSE:HRB) by 46.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,504 shares of the company’s stock after selling 3,921 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in H&R Block were worth $286,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Eastern Bank bought a new position in shares of H&R Block in the third quarter worth about $25,000. Bogart Wealth LLC lifted its holdings in H&R Block by 606.1% during the 3rd quarter. Bogart Wealth LLC now owns 466 shares of the company’s stock worth $30,000 after buying an additional 400 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in H&R Block in the 3rd quarter valued at $35,000. Versant Capital Management Inc increased its stake in shares of H&R Block by 4,152.9% in the 2nd quarter. Versant Capital Management Inc now owns 723 shares of the company’s stock valued at $39,000 after buying an additional 706 shares during the period. Finally, Quest Partners LLC raised its position in shares of H&R Block by 2,756.0% during the second quarter. Quest Partners LLC now owns 714 shares of the company’s stock worth $39,000 after acquiring an additional 689 shares during the last quarter. Institutional investors own 90.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on H&R Block from $39.00 to $44.00 and gave the company a “sell” rating in a report on Friday, August 16th. Barrington Research reissued an “outperform” rating and set a $70.00 price target on shares of H&R Block in a research note on Monday. Finally, StockNews.com cut shares of H&R Block from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

H&R Block Trading Up 1.0 %

NYSE:HRB opened at $60.70 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 16.46. H&R Block, Inc. has a 1-year low of $39.20 and a 1-year high of $68.45. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 0.95 and a beta of 0.66. The business’s 50-day moving average price is $62.51 and its two-hundred day moving average price is $56.30.

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 net margin of 16.49% and a negative return on equity of 220.05%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm earned $2.05 EPS. H&R Block’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts expect that H&R Block, Inc. will post 5.22 earnings per share for the current year.

H&R Block Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 5th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, September 5th. This is an increase from H&R Block’s previous quarterly dividend of $0.32. H&R Block’s dividend payout ratio (DPR) is presently 34.32%.

H&R Block announced that its Board of Directors has initiated a share buyback plan on Thursday, August 15th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to buy up to 16.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other H&R Block news, CFO Tony G. Bowen sold 79,259 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $65.17, for a total value of $5,165,309.03. Following the completion of the sale, the chief financial officer now directly owns 90,095 shares in the company, valued at $5,871,491.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jeffrey J. Jones II sold 9,722 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $63.07, for a total value of $613,166.54. Following the sale, the chief executive officer now directly owns 893,169 shares of the company’s stock, valued at approximately $56,332,168.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Tony G. Bowen sold 79,259 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $65.17, for a total value of $5,165,309.03. Following the transaction, the chief financial officer now owns 90,095 shares of the company’s stock, valued at approximately $5,871,491.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,927 shares of company stock worth $7,517,056. Corporate insiders own 1.20% of the company’s stock.

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.