H&R Block, Inc. (NYSE:HRB) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in H&R Block, Inc. (NYSE:HRB) by 11.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,661 shares of the company’s stock after selling 11,801 shares during the period. Amalgamated Bank owned approximately 0.06% of H&R Block worth $4,754,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HRB. True Vision MN LLC purchased a new stake in shares of H&R Block during the 2nd quarter valued at $340,000. Dimensional Fund Advisors LP increased its stake in H&R Block by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,484,417 shares of the company’s stock worth $134,726,000 after acquiring an additional 23,792 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of H&R Block in the 2nd quarter worth about $227,000. Envestnet Asset Management Inc. lifted its stake in shares of H&R Block by 6.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 91,686 shares of the company’s stock valued at $4,972,000 after purchasing an additional 5,619 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of H&R Block by 116.6% during the 2nd quarter. American Century Companies Inc. now owns 276,358 shares of the company’s stock worth $14,987,000 after purchasing an additional 148,790 shares during the period. 90.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other H&R Block news, VP Kellie J. Logerwell sold 8,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 18,474 shares in the company, valued at approximately $1,189,910.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Kellie J. Logerwell sold 8,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 18,474 shares in the company, valued at approximately $1,189,910.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeffrey J. Jones II sold 44,975 shares of H&R Block stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.55, for a total transaction of $2,453,386.25. Following the completion of the sale, the chief executive officer now owns 712,386 shares of the company’s stock, valued at approximately $38,860,656.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,902 shares of company stock worth $9,970,442. 1.20% of the stock is currently owned by corporate insiders.

H&R Block Stock Up 1.2 %

NYSE HRB opened at $64.46 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 16.46. H&R Block, Inc. has a fifty-two week low of $39.20 and a fifty-two week high of $68.45. The business has a 50 day moving average price of $60.20 and a two-hundred day moving average price of $53.54. The stock has a market cap of $8.99 billion, a PE ratio of 14.75, a P/E/G ratio of 0.96 and a beta of 0.66.

H&R Block (NYSE:HRB) last released its quarterly earnings results on Thursday, August 15th. The company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business earned $2.05 EPS. The business’s revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts predict that H&R Block, Inc. will post 5.22 EPS for the current fiscal year.

H&R Block declared that its Board of Directors has approved a stock repurchase program on Thursday, August 15th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to buy up to 16.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

H&R Block Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 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 2.33%. This is a positive change from H&R Block’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, September 5th. H&R Block’s payout ratio is presently 34.32%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. StockNews.com lowered shares of H&R Block from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Barrington Research restated an “outperform” rating and set a $60.00 target price on shares of H&R Block in a report on Wednesday, August 14th. Finally, The Goldman Sachs Group raised their price objective 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.

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.