Cerity Partners LLC Grows Stock Holdings in H&R Block, Inc. (NYSE:HRB)

Cerity Partners LLC raised its stake in H&R Block, Inc. (NYSE:HRB) by 47.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,663 shares of the company’s stock after buying an additional 42,934 shares during the period. Cerity Partners LLC owned approximately 0.10% of H&R Block worth $8,431,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in HRB. Eastern Bank acquired a new stake in shares of H&R Block in the 3rd quarter worth approximately $25,000. Bogart Wealth LLC boosted its position in H&R Block by 606.1% during the third quarter. Bogart Wealth LLC now owns 466 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in H&R Block in the third quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of H&R Block in the third quarter valued at $35,000. Finally, Versant Capital Management Inc increased its position in shares of H&R Block by 4,152.9% in the second quarter. Versant Capital Management Inc now owns 723 shares of the company’s stock valued at $39,000 after buying an additional 706 shares in the last quarter. 90.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HRB has been the topic of a number of research reports. The Goldman Sachs Group increased their price objective on shares of H&R Block from $39.00 to $44.00 and gave the company a “sell” rating in a research note on Friday, August 16th. StockNews.com cut H&R Block from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Finally, Barrington Research reiterated an “outperform” rating and set a $70.00 price target on shares of H&R Block in a report on Friday, November 8th.

H&R Block Stock Performance

NYSE HRB opened at $59.62 on Wednesday. The business’s 50-day moving average price is $61.10 and its 200 day moving average price is $57.89. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 16.46. H&R Block, Inc. has a twelve month low of $42.28 and a twelve month high of $68.45. The company has a market capitalization of $8.17 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 0.88 and a beta of 0.67.

H&R Block (NYSE:HRB) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.04). H&R Block had a negative return on equity of 212.45% and a net margin of 16.19%. The company had revenue of $193.81 million for the quarter, compared to analysts’ expectations of $188.78 million. During the same quarter in the previous year, the company earned ($1.05) earnings per share. On average, research analysts predict that H&R Block, Inc. will post 5.28 earnings per share for the current year.

H&R Block Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.50 annualized dividend and a dividend yield of 2.52%. H&R Block’s dividend payout ratio is presently 36.59%.

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 shares. This repurchase authorization authorizes the company to buy 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.

Insider Transactions at H&R Block

In other news, CEO Jeffrey J. Jones II sold 9,722 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $63.07, for a total transaction of $613,166.54. Following the completion of the sale, the chief executive officer now owns 893,169 shares in the company, valued at approximately $56,332,168.83. The trade was a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kellie J. Logerwell sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $64.41, for a total transaction of $515,280.00. Following the completion of the transaction, the vice president now owns 18,474 shares in the company, valued at $1,189,910.34. The trade was a 30.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.