Convergence Investment Partners LLC Grows Stock Position in H & R Block Inc (NYSE:HRB)

Convergence Investment Partners LLC raised its holdings in H & R Block Inc (NYSE:HRB) by 36.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,196 shares of the company’s stock after buying an additional 11,010 shares during the quarter. Convergence Investment Partners LLC’s holdings in H & R Block were worth $588,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in HRB. Crossmark Global Holdings Inc. increased its position in shares of H & R Block by 5.3% during the first quarter. Crossmark Global Holdings Inc. now owns 14,269 shares of the company’s stock worth $201,000 after acquiring an additional 716 shares in the last quarter. Round Hill Asset Management raised its stake in H & R Block by 1.4% in the 1st quarter. Round Hill Asset Management now owns 63,950 shares of the company’s stock worth $898,000 after purchasing an additional 880 shares in the last quarter. Texas Permanent School Fund raised its stake in H & R Block by 2.6% in the 1st quarter. Texas Permanent School Fund now owns 35,437 shares of the company’s stock worth $499,000 after purchasing an additional 889 shares in the last quarter. Creative Planning raised its stake in H & R Block by 6.4% in the 2nd quarter. Creative Planning now owns 15,900 shares of the company’s stock worth $227,000 after purchasing an additional 961 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in H & R Block by 9.6% in the 1st quarter. Fifth Third Bancorp now owns 12,838 shares of the company’s stock worth $181,000 after purchasing an additional 1,124 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

HRB traded down $0.35 during trading on Friday, hitting $14.50. 7,430,386 shares of the company traded hands, compared to its average volume of 3,016,359. The firm has a market cap of $2.79 billion, a P/E ratio of 1,451.45, a price-to-earnings-growth ratio of 0.46 and a beta of 0.79. The stock’s fifty day moving average is $14.90 and its 200 day moving average is $17.56. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 44.46. H & R Block Inc has a one year low of $11.29 and a one year high of $28.08.

H & R Block (NYSE:HRB) last issued its earnings results on Tuesday, June 16th. The company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.40. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. H & R Block had a negative net margin of 0.29% and a negative return on equity of 1,927.00%. The company’s quarterly revenue was down 22.4% on a year-over-year basis. During the same quarter last year, the business earned $4.29 earnings per share. On average, equities research analysts forecast that H & R Block Inc will post 3.15 EPS for the current fiscal year.

Several analysts have weighed in on HRB shares. Oppenheimer reiterated a “hold” rating on shares of H & R Block in a research note on Thursday, July 16th. Northcoast Research upgraded shares of H & R Block from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, July 15th. Morgan Stanley boosted their target price on shares of H & R Block from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 17th. ValuEngine upgraded shares of H & R Block from a “sell” rating to a “hold” rating in a research report on Thursday, June 11th. Finally, Barrington Research initiated coverage on shares of H & R Block in a research report on Wednesday, July 1st. They set a “buy” rating and a $21.00 target price on the stock. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.43.

About H & R Block

H&R Block, Inc, through its subsidiaries, provides assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions, and other services and products related to income tax return preparation to the general public primarily in the United States, Canada, and Australia. The company offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or by franchisees.

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

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