Advisor Group Holdings Inc. Decreases Holdings in H&R Block, Inc. (NYSE:HRB)

Advisor Group Holdings Inc. decreased its holdings in shares of H&R Block, Inc. (NYSE:HRB) by 13.7% in the second quarter, HoldingsChannel reports. The fund owned 24,144 shares of the company’s stock after selling 3,844 shares during the quarter. Advisor Group Holdings Inc.’s holdings in H&R Block were worth $567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of HRB. Franklin Resources Inc. grew its position in shares of H&R Block by 62.8% during the 1st quarter. Franklin Resources Inc. now owns 3,826,313 shares of the company’s stock valued at $83,414,000 after acquiring an additional 1,476,444 shares during the period. Peregrine Capital Management LLC bought a new stake in shares of H&R Block during the 1st quarter valued at $21,886,000. Russell Investments Group Ltd. grew its position in shares of H&R Block by 525.9% during the 1st quarter. Russell Investments Group Ltd. now owns 770,747 shares of the company’s stock valued at $16,798,000 after acquiring an additional 647,608 shares during the period. South Dakota Investment Council bought a new stake in shares of H&R Block during the 1st quarter valued at $12,209,000. Finally, New York State Common Retirement Fund grew its position in shares of H&R Block by 190.3% during the 1st quarter. New York State Common Retirement Fund now owns 842,467 shares of the company’s stock valued at $18,366,000 after acquiring an additional 552,309 shares during the period. 82.10% of the stock is owned by hedge funds and other institutional investors.

HRB has been the subject of a number of recent research reports. Barrington Research reissued a “buy” rating and set a $28.00 price objective on shares of H&R Block in a research report on Wednesday, June 16th. TheStreet raised shares of H&R Block from a “c” rating to a “b” rating in a report on Tuesday, June 15th. BMO Capital Markets upped their target price on shares of H&R Block from $26.00 to $28.00 and gave the stock a “market perform” rating in a report on Thursday, August 26th. Morgan Stanley upped their target price on shares of H&R Block from $19.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 25th. Finally, The Goldman Sachs Group upped their target price on shares of H&R Block from $16.00 to $18.00 and gave the stock a “sell” rating in a report on Wednesday, August 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.00.

In other news, insider Thomas A. Gerke sold 15,000 shares of the stock in a transaction that occurred on Monday, August 30th. The shares were sold at an average price of $25.75, for a total transaction of $386,250.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas A. Gerke sold 32,881 shares of the stock in a transaction that occurred on Tuesday, August 17th. The shares were sold at an average price of $25.70, for a total transaction of $845,041.70. The disclosure for this sale can be found here. Insiders have sold a total of 92,103 shares of company stock worth $2,362,465 over the last 90 days. Corporate insiders own 0.98% of the company’s stock.

HRB opened at $25.27 on Tuesday. The firm has a 50-day simple moving average of $25.03 and a two-hundred day simple moving average of $23.76. H&R Block, Inc. has a 52 week low of $13.51 and a 52 week high of $26.51. The company has a market capitalization of $4.60 billion, a PE ratio of 6.33, a price-to-earnings-growth ratio of 0.71 and a beta of 0.84. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 4.23.

H&R Block (NYSE:HRB) last announced its earnings results on Monday, August 9th. The company reported $1.39 earnings per share (EPS) for the quarter. The firm had revenue of $1.05 billion for the quarter. H&R Block had a net margin of 19.08% and a negative return on equity of 970.26%. As a group, sell-side analysts expect that H&R Block, Inc. will post 2.78 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 10th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Thursday, September 9th. H&R Block’s dividend payout ratio is 27.41%.

H&R Block Profile

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.

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Institutional Ownership by Quarter for H&R Block (NYSE:HRB)

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