H&R Block, Inc. (NYSE:HRB) Shares Bought by Federated Hermes Inc.

Posted by Defense World Staff on Mar 13th, 2023

Federated Hermes Inc. raised its holdings in H&R Block, Inc. (NYSE:HRB – Get Rating) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,595 shares of the company’s stock after purchasing an additional 578 shares during the period. Federated Hermes Inc.’s holdings in H&R Block were worth $1,174,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC acquired a new position in shares of H&R Block in the 2nd quarter valued at approximately $260,000. Private Trust Co. NA acquired a new position in shares of H&R Block in the 2nd quarter valued at approximately $57,000. Prudential Financial Inc. increased its holdings in shares of H&R Block by 342.2% in the 3rd quarter. Prudential Financial Inc. now owns 70,344 shares of the company’s stock valued at $3,053,000 after acquiring an additional 54,435 shares during the last quarter. CoreCap Advisors LLC bought a new stake in shares of H&R Block in the 2nd quarter valued at approximately $47,000. Finally, NewEdge Wealth LLC increased its holdings in shares of H&R Block by 4.4% in the 2nd quarter. NewEdge Wealth LLC now owns 610,349 shares of the company’s stock valued at $21,558,000 after acquiring an additional 25,790 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

H&R Block Price Performance

Shares of HRB opened at $35.58 on Monday. The company has a market cap of $5.42 billion, a P/E ratio of 12.27, a PEG ratio of 0.74 and a beta of 0.67. The stock has a fifty day moving average price of $37.73 and a 200 day moving average price of $40.44. The company has a debt-to-equity ratio of 7.03, a current ratio of 1.20 and a quick ratio of 1.20. H&R Block, Inc. has a 12 month low of $23.65 and a 12 month high of $48.76.

H&R Block (NYSE:HRB – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The company reported ($1.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.48) by $0.11. H&R Block had a negative return on equity of 337.61% and a net margin of 14.57%. The company had revenue of $166.40 million during the quarter, compared to analysts’ expectations of $151.64 million. During the same quarter in the prior year, the business posted ($1.02) earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, research analysts forecast that H&R Block, Inc. will post 3.84 earnings per share for the current year.

H&R Block Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Tuesday, March 7th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, March 6th. This represents a $1.16 annualized dividend and a dividend yield of 3.26%. H&R Block’s payout ratio is 40.00%.

Wall Street Analysts Forecast Growth

HRB has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their price target on H&R Block from $25.00 to $28.00 and gave the company a “sell” rating in a report on Wednesday, February 8th. Barrington Research restated an “outperform” rating and set a $48.00 price objective on shares of H&R Block in a research note on Wednesday, February 8th.

Insider Transactions at H&R Block

In other news, CEO Jeffrey J. Jones II sold 18,009 shares of the stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $42.11, for a total value of $758,358.99. Following the completion of the transaction, the chief executive officer now owns 657,977 shares of the company’s stock, valued at $27,707,411.47. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

H&R Block Company Profile

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H&R Block, Inc engages in the provision of tax preparation and other services. The firm offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or by franchisees. It also develops and markets DIY income tax preparation software online, as well as through third-party retail stores and direct mail, and provides DIY tax services, including federal and state income tax returns, access to tax tips, advice, and tax-related news, use of calculators for tax planning, and error checking and electronic filing.