H&R Block, Inc. (NYSE:HRB) Shares Purchased by Prudential PLC

Prudential PLC raised its stake in H&R Block, Inc. (NYSE:HRB) by 478.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,917 shares of the company’s stock after acquiring an additional 113,233 shares during the period. Prudential PLC owned 0.10% of H&R Block worth $7,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Lazard Asset Management LLC lifted its holdings in shares of H&R Block by 11.8% in the 1st quarter. Lazard Asset Management LLC now owns 5,295,911 shares of the company’s stock valued at $260,081,000 after purchasing an additional 558,076 shares during the last quarter. Boston Partners lifted its stake 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 buying an additional 758,827 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in H&R Block by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,469,698 shares of the company’s stock valued at $119,463,000 after buying an additional 79,759 shares during the last quarter. Norges Bank acquired a new stake in shares of H&R Block in the fourth quarter valued at approximately $82,605,000. Finally, BNP Paribas Financial Markets grew its position in shares of H&R Block by 4.5% during the first quarter. BNP Paribas Financial Markets now owns 817,621 shares of the company’s stock worth $40,153,000 after acquiring an additional 35,333 shares during the last quarter. Institutional investors and hedge funds own 90.14% of the company’s stock.

H&R Block Price Performance

Shares of NYSE HRB opened at $62.86 on Tuesday. The stock has a fifty day moving average price of $58.54 and a 200 day moving average price of $52.68. H&R Block, Inc. has a 1-year low of $38.78 and a 1-year high of $68.45. 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 $8.77 billion, a PE ratio of 14.38, a P/E/G ratio of 0.96 and a beta of 0.66.

H&R Block (NYSE:HRB) last announced its quarterly earnings data on Thursday, August 15th. The company reported $1.89 EPS for the quarter, topping 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 company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. H&R Block’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts forecast that H&R Block, Inc. will post 5.25 EPS for the current year.

H&R Block Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 5th will be given a dividend of $0.375 per share. This is a boost from H&R Block’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.50 annualized dividend and a yield of 2.39%. H&R Block’s payout ratio is presently 34.32%.

H&R Block announced that its board has approved a share buyback program on Thursday, August 15th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 16.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other H&R Block news, CFO Tony G. Bowen sold 79,259 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 90,095 shares in the company, valued at $5,871,491.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other H&R Block news, CEO Jeffrey J. Jones II sold 44,975 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $54.55, for a total value of $2,453,386.25. Following the completion of the transaction, the chief executive officer now directly owns 712,386 shares of the company’s stock, valued at $38,860,656.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Tony G. Bowen sold 79,259 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 90,095 shares in the company, valued at approximately $5,871,491.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,902 shares of company stock worth $9,455,162. Company insiders own 1.20% of the company’s stock.

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.