CWC Advisors LLC. Buys New Holdings in H&R Block, Inc. (NYSE:HRB)

CWC Advisors LLC. bought a new stake in H&R Block, Inc. (NYSE:HRB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,963 shares of the company’s stock, valued at approximately $506,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HRB. Tectonic Advisors LLC raised its position in H&R Block by 6.7% in the third quarter. Tectonic Advisors LLC now owns 107,718 shares of the company’s stock valued at $6,845,000 after purchasing an additional 6,769 shares during the period. Bogart Wealth LLC raised its position in H&R Block by 606.1% in the third quarter. Bogart Wealth LLC now owns 466 shares of the company’s stock valued at $30,000 after purchasing an additional 400 shares during the period. International Assets Investment Management LLC purchased a new position in H&R Block in the third quarter valued at about $15,750,000. Lecap Asset Management Ltd. raised its position in H&R Block by 257.7% in the third quarter. Lecap Asset Management Ltd. now owns 26,443 shares of the company’s stock valued at $1,680,000 after purchasing an additional 19,050 shares during the period. Finally, Eastern Bank purchased a new position in H&R Block in the third quarter valued at about $25,000. Institutional investors and hedge funds own 90.14% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Tony G. Bowen sold 79,259 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $65.17, for a total value of $5,165,309.03. Following the completion of the sale, the chief financial officer now directly owns 90,095 shares in the company, valued at approximately $5,871,491.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other H&R Block news, VP Kellie J. Logerwell sold 9,846 shares of H&R Block stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $65.00, for a total value of $639,990.00. Following the completion of the transaction, the vice president now directly owns 25,028 shares in the company, valued at $1,626,820. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Tony G. Bowen sold 79,259 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $65.17, for a total value of $5,165,309.03. Following the transaction, the chief financial officer now directly owns 90,095 shares of the company’s stock, valued at $5,871,491.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,927 shares of company stock valued at $7,517,056 in the last quarter. Insiders own 1.20% of the company’s stock.

H&R Block Stock Up 0.1 %

HRB stock opened at $60.04 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 16.46. The firm has a 50 day simple moving average of $62.82 and a 200-day simple moving average of $55.95. The company has a market capitalization of $8.38 billion, a P/E ratio of 13.74, a PEG ratio of 0.95 and a beta of 0.66. H&R Block, Inc. has a twelve month low of $39.20 and a twelve month high of $68.45.

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

H&R Block announced that its Board of Directors has authorized a stock buyback program on Thursday, August 15th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 16.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

H&R Block Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 5th were paid a dividend of $0.375 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.50 annualized dividend and a yield of 2.50%. This is a boost from H&R Block’s previous quarterly dividend of $0.32. H&R Block’s dividend payout ratio is presently 34.32%.

Wall Street Analysts Forecast Growth

Several research firms have commented on HRB. StockNews.com lowered H&R Block from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. The Goldman Sachs Group raised their price objective 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, Barrington Research reaffirmed an “outperform” rating and set a $60.00 target price on shares of H&R Block in a research report on Wednesday, August 14th.

H&R Block Company 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.