True Wealth Design LLC Cuts Position in H&R Block, Inc. (NYSE:HRB)

True Wealth Design LLC trimmed its holdings in shares of H&R Block, Inc. (NYSE:HRB) by 95.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 735 shares of the company’s stock after selling 17,221 shares during the period. True Wealth Design LLC’s holdings in H&R Block were worth $47,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Eastern Bank purchased a new stake in H&R Block during the 3rd quarter worth $25,000. Bogart Wealth LLC lifted its stake in shares of H&R Block by 606.1% during the third quarter. Bogart Wealth LLC now owns 466 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of H&R Block in the third quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of H&R Block in the third quarter valued at about $35,000. Finally, Versant Capital Management Inc raised its holdings in shares of H&R Block by 4,152.9% during the 2nd quarter. Versant Capital Management Inc now owns 723 shares of the company’s stock valued at $39,000 after buying an additional 706 shares during the period. 90.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of H&R Block from $39.00 to $44.00 and gave the company a “sell” rating in a research report on Friday, August 16th. Barrington Research restated an “outperform” rating and issued a $70.00 target price on shares of H&R Block in a research note on Friday, November 8th. Finally, StockNews.com downgraded shares of H&R Block from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

H&R Block Price Performance

Shares of NYSE HRB opened at $59.28 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 16.46. H&R Block, Inc. has a fifty-two week low of $42.28 and a fifty-two week high of $68.45. The business has a 50 day moving average price of $60.76 and a two-hundred day moving average price of $58.03. The firm has a market cap of $8.12 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.90 and a beta of 0.67.

H&R Block (NYSE:HRB) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.04). The company had revenue of $193.81 million during 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 last year, the firm posted ($1.05) EPS. Sell-side analysts expect that H&R Block, Inc. will post 5.28 earnings per share for the current fiscal year.

H&R Block Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders 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 yield of 2.53%. The ex-dividend date of this dividend is Thursday, December 5th. H&R Block’s payout ratio is currently 36.59%.

H&R Block declared that its board has initiated a share buyback plan on Thursday, August 15th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to reacquire up to 16.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other H&R Block news, VP Kellie J. Logerwell sold 8,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $64.41, for a total transaction of $515,280.00. Following the sale, the vice president now directly owns 18,474 shares of the company’s stock, valued at approximately $1,189,910.34. This represents a 30.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey J. Jones II sold 9,722 shares of H&R Block stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $63.07, for a total transaction of $613,166.54. Following the completion of the transaction, the chief executive officer now directly owns 893,169 shares of the company’s stock, valued at $56,332,168.83. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

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.