Affinity Wealth Management LLC Buys Shares of 12,691 H&R Block, Inc. (NYSE:HRB)

Affinity Wealth Management LLC purchased a new position in H&R Block, Inc. (NYSE:HRB) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,691 shares of the company’s stock, valued at approximately $807,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mather Group LLC. acquired a new position in H&R Block in the first quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in H&R Block during the 3rd quarter valued at approximately $35,000. Richardson Financial Services Inc. bought a new position in H&R Block during the 4th quarter worth $37,000. Versant Capital Management Inc increased its position in H&R Block by 4,152.9% in the second quarter. Versant Capital Management Inc now owns 723 shares of the company’s stock worth $39,000 after buying an additional 706 shares during the period. Finally, Quest Partners LLC lifted its stake in H&R Block by 2,756.0% in the second quarter. Quest Partners LLC now owns 714 shares of the company’s stock valued at $39,000 after buying an additional 689 shares during the last quarter. 90.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of H&R Block in a report on Wednesday, August 14th. The Goldman Sachs Group raised their target price on H&R Block from $39.00 to $44.00 and gave the company a “sell” rating in a research report on Friday, August 16th. Finally, StockNews.com lowered H&R Block from a “buy” rating to a “hold” rating in a report on Friday, August 16th.

Insider Buying and Selling

In other news, insider Dara S. Redler sold 9,100 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $64.10, for a total transaction of $583,310.00. Following the sale, the insider now owns 22,066 shares in the company, valued at $1,414,430.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other H&R Block news, VP Kellie J. Logerwell sold 9,846 shares of H&R Block stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $65.00, for a total transaction of $639,990.00. Following the transaction, the vice president now owns 25,028 shares of the company’s stock, valued at $1,626,820. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dara S. Redler sold 9,100 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $64.10, for a total transaction of $583,310.00. Following the completion of the sale, the insider now directly owns 22,066 shares of the company’s stock, valued at $1,414,430.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,927 shares of company stock worth $7,517,056. Corporate insiders own 1.20% of the company’s stock.

H&R Block Price Performance

Shares of HRB stock traded down $0.20 during mid-day trading on Monday, hitting $60.70. 65,895 shares of the stock traded hands, compared to its average volume of 1,160,884. H&R Block, Inc. has a twelve month low of $39.20 and a twelve month high of $68.45. The company has a debt-to-equity ratio of 16.46, a quick ratio of 1.27 and a current ratio of 1.27. The company’s 50-day simple moving average is $62.02 and its 200-day simple moving average is $55.14. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 0.95 and a beta of 0.66.

H&R Block (NYSE:HRB) last released its earnings results on Thursday, August 15th. The company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. H&R Block had a negative return on equity of 220.05% and a net margin of 16.49%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company earned $2.05 earnings per share. H&R Block’s revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts expect that H&R Block, Inc. will post 5.22 earnings per share for the current year.

H&R Block Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 5th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, September 5th. This is a positive change from H&R Block’s previous quarterly dividend of $0.32. This represents a $1.50 annualized dividend and a yield of 2.47%. H&R Block’s dividend payout ratio is currently 34.32%.

H&R Block announced that its board has initiated a share repurchase program on Thursday, August 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to buy up to 16.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.