The Manufacturers Life Insurance Company Takes $3.29 Million Position in Block, Inc. $XYZ

The Manufacturers Life Insurance Company bought a new position in shares of Block, Inc. (NYSE:XYZ) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 86,433 shares of the technology company’s stock, valued at approximately $3,291,000.

A number of other institutional investors have also made changes to their positions in XYZ. Elevation Wealth Partners LLC raised its stake in Block by 301.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company’s stock valued at $30,000 after acquiring an additional 292 shares during the period. Global Assets Advisory LLC bought a new position in Block during the first quarter worth $31,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Block by 57.6% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company’s stock valued at $40,000 after purchasing an additional 223 shares during the last quarter. Osbon Capital Management LLC acquired a new position in shares of Block in the fourth quarter valued at $43,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Block in the second quarter valued at about $43,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XYZ has been the subject of a number of research reports. Needham & Company LLC raised their target price on shares of Block from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Craig Hallum started coverage on shares of Block in a research note on Tuesday, June 30th. They issued a “buy” rating on the stock. Wolfe Research increased their price target on shares of Block from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, August 25th. UBS Group raised their price objective on shares of Block from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Citigroup boosted their price objective on Block from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.84.

Block Stock Performance

NYSE:XYZ opened at $77.78 on Wednesday. The company has a market cap of $46.73 billion, a price-to-earnings ratio of 138.89, a PEG ratio of 0.87 and a beta of 2.53. Block, Inc. has a fifty-two week low of $48.21 and a fifty-two week high of $86.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21. The stock has a fifty day moving average price of $79.93 and a 200-day moving average price of $70.52.

Block (NYSE:XYZ) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.54. The business had revenue of $6.62 billion during the quarter. Block had a return on equity of 8.10% and a net margin of 1.43%.The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $0.62 EPS. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. As a group, equities analysts anticipate that Block, Inc. will post 2.72 EPS for the current fiscal year.

Insider Activity

In related news, insider Brian Grassadonia sold 8,173 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $82.42, for a total transaction of $673,618.66. Following the sale, the insider owned 513,981 shares in the company, valued at approximately $42,362,314.02. This trade represents a 1.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Mathew Eisen sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $82.58, for a total transaction of $495,480.00. Following the transaction, the director owned 1,458,672 shares of the company’s stock, valued at approximately $120,457,133.76. This represents a 0.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 378,006 shares of company stock worth $30,161,501. Insiders own 11.37% of the company’s stock.

Block Company Profile

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.