Fmr LLC Has $1.20 Billion Stake in H&R Block, Inc. (NYSE:HRB)

Fmr LLC trimmed its position in H&R Block, Inc. (NYSE:HRB) by 9.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,932,445 shares of the company’s stock after selling 1,996,584 shares during the quarter. Fmr LLC owned 0.14% of H&R Block worth $1,203,157,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of H&R Block by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,936,829 shares of the company’s stock valued at $313,735,000 after purchasing an additional 255,354 shares in the last quarter. Boston Partners grew its position in H&R Block by 30.2% in the first quarter. Boston Partners now owns 3,270,919 shares of the company’s stock valued at $160,614,000 after acquiring an additional 758,827 shares during the period. Pacer Advisors Inc. grew its position in H&R Block by 52.2% in the second quarter. Pacer Advisors Inc. now owns 2,738,190 shares of the company’s stock valued at $148,492,000 after acquiring an additional 939,270 shares during the period. Dimensional Fund Advisors LP grew its position in H&R Block by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,484,417 shares of the company’s stock valued at $134,726,000 after acquiring an additional 23,792 shares during the period. Finally, AQR Capital Management LLC grew its position in H&R Block by 39.7% in the second quarter. AQR Capital Management LLC now owns 2,131,451 shares of the company’s stock valued at $115,418,000 after acquiring an additional 606,250 shares during the period. 90.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Kellie J. Logerwell sold 8,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $64.41, for a total transaction of $515,280.00. Following the transaction, the vice president now owns 18,474 shares of the company’s stock, valued at $1,189,910.34. This represents a 30.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey J. Jones II sold 9,722 shares of the company’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 transaction, 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 position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

H&R Block Price Performance

Shares of HRB stock opened at $59.62 on Wednesday. The stock’s fifty day moving average is $61.10 and its 200-day moving average is $57.89. The company has a debt-to-equity ratio of 16.46, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $8.17 billion, a PE ratio of 14.54, a PEG ratio of 0.88 and a beta of 0.67. H&R Block, Inc. has a 52 week low of $42.28 and a 52 week high of $68.45.

H&R Block (NYSE:HRB) last announced its 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). The business had revenue of $193.81 million for the quarter, compared to the consensus estimate of $188.78 million. H&R Block had a negative return on equity of 212.45% and a net margin of 16.19%. During the same quarter in the previous year, the company posted ($1.05) EPS. Equities research analysts expect that H&R Block, Inc. will post 5.28 EPS for the current fiscal year.

H&R Block declared that its board has authorized a stock repurchase plan on Thursday, August 15th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 16.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

H&R Block Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Thursday, December 5th. H&R Block’s dividend payout ratio (DPR) is presently 36.59%.

Analysts Set New Price Targets

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

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.