Algert Global LLC Invests $762,000 in H&R Block, Inc. (NYSE:HRB)

Algert Global LLC purchased a new position in shares of H&R Block, Inc. (NYSE:HRB) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,053 shares of the company’s stock, valued at approximately $762,000.

A number of other large investors have also recently bought and sold shares of the company. TriaGen Wealth Management LLC boosted its position in H&R Block by 2.4% in the second quarter. TriaGen Wealth Management LLC now owns 8,642 shares of the company’s stock valued at $469,000 after buying an additional 203 shares during the last quarter. Bank of Montreal Can boosted its position in H&R Block by 1.0% in the second quarter. Bank of Montreal Can now owns 24,467 shares of the company’s stock valued at $1,327,000 after buying an additional 251 shares during the last quarter. Eagle Bay Advisors LLC boosted its position in H&R Block by 5.5% in the first quarter. Eagle Bay Advisors LLC now owns 5,035 shares of the company’s stock valued at $249,000 after buying an additional 263 shares during the last quarter. Burney Co. boosted its position in H&R Block by 0.6% in the second quarter. Burney Co. now owns 57,327 shares of the company’s stock valued at $3,109,000 after buying an additional 349 shares during the last quarter. Finally, Ascent Group LLC boosted its position in H&R Block by 2.8% in the first quarter. Ascent Group LLC now owns 18,451 shares of the company’s stock valued at $906,000 after buying an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 90.14% of the company’s stock.

H&R Block Stock Performance

Shares of HRB stock opened at $62.48 on Friday. The company has a debt-to-equity ratio of 16.46, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.98 and a beta of 0.66. The stock has a 50 day simple moving average of $61.63 and a 200-day simple moving average of $54.58. H&R Block, Inc. has a 1-year low of $39.20 and a 1-year high of $68.45.

H&R Block (NYSE:HRB) last announced its earnings results 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. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. H&R Block had a negative return on equity of 220.05% and a net margin of 16.49%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 EPS. On average, equities research analysts expect that H&R Block, Inc. will post 5.22 EPS for the current fiscal year.

H&R Block Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 5th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.40%. This is an increase from H&R Block’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, September 5th. H&R Block’s dividend payout ratio is presently 34.32%.

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

Analyst Ratings Changes

HRB has been the subject of a number of analyst reports. StockNews.com downgraded H&R Block from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Barrington Research reissued an “outperform” rating and issued a $60.00 price target on shares of H&R Block in a report on Wednesday, August 14th. Finally, The Goldman Sachs Group boosted 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.

Insider Transactions at H&R Block

In related news, CEO Jeffrey J. Jones II sold 9,722 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $63.07, for a total transaction of $613,166.54. Following the completion of the sale, the chief executive officer now directly owns 893,169 shares in the company, valued at approximately $56,332,168.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jeffrey J. Jones II sold 9,722 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $63.07, for a total transaction of $613,166.54. Following the completion of the sale, the chief executive officer now directly owns 893,169 shares in the company, valued at approximately $56,332,168.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kellie J. Logerwell sold 8,000 shares of the business’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 value of $515,280.00. Following the sale, the vice president now owns 18,474 shares of the company’s stock, valued at $1,189,910.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,927 shares of company stock valued at $7,517,056 in the last three months. 1.20% of the stock is currently owned by company insiders.

About H&R Block

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.