Jensen Investment Management Inc. Invests $465,000 in H&R Block Inc. (HRB)
Jensen Investment Management Inc. purchased a new position in H&R Block Inc. (NYSE:HRB) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 20,230 shares of the company’s stock, valued at approximately $465,000.
Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of H&R Block during the fourth quarter worth approximately $74,869,000. Bank of Montreal Can acquired a new position in H&R Block during the second quarter valued at about $9,585,000. Tobam acquired a new position in H&R Block during the first quarter valued at about $8,590,000. Community Trust & Investment Co. acquired a new position in H&R Block during the second quarter valued at about $6,411,000. Finally, Palo Capital Inc. acquired a new position in H&R Block during the second quarter valued at about $3,170,000. 93.05% of the stock is currently owned by hedge funds and other institutional investors.
H&R Block Inc. (NYSE:HRB) traded up 0.96% during midday trading on Thursday, hitting $23.06. The stock had a trading volume of 1,285,847 shares. The firm has a market capitalization of $5.05 billion, a P/E ratio of 15.60 and a beta of 0.80. H&R Block Inc. has a 52-week low of $19.18 and a 52-week high of $37.53. The firm has a 50-day moving average of $23.27 and a 200 day moving average of $23.38.
H&R Block (NYSE:HRB) last released its quarterly earnings results on Tuesday, August 30th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by $0.02. H&R Block had a negative return on equity of 202.63% and a net margin of 11.58%. The firm earned $125 million during the quarter. During the same quarter in the prior year, the company earned ($0.35) earnings per share. The company’s revenue was down 9.4% on a year-over-year basis. On average, equities analysts forecast that H&R Block Inc. will post $1.74 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Wednesday, September 14th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.82%. The ex-dividend date is Monday, September 12th. H&R Block’s dividend payout ratio is currently 52.69%.
Several research firms recently issued reports on HRB. BTIG Research reaffirmed a “hold” rating on shares of H&R Block in a research report on Sunday, June 12th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of H&R Block in a research report on Sunday, June 12th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $31.00 price objective on shares of H&R Block in a research report on Friday, June 3rd. Zacks Investment Research raised H&R Block from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Morgan Stanley reaffirmed a “buy” rating and issued a $26.00 price objective on shares of H&R Block in a research report on Wednesday, August 31st. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. H&R Block currently has an average rating of “Hold” and a consensus target price of $31.10.
In other news, insider Jeffrey Brown sold 105,896 shares of H&R Block stock in a transaction on Monday, June 27th. The shares were sold at an average price of $21.83, for a total transaction of $2,311,709.68. Following the completion of the sale, the insider now directly owns 150,187 shares in the company, valued at $3,278,582.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Gregory J. Macfarlane acquired 4,618 shares of the stock in a transaction dated Thursday, September 1st. The shares were bought at an average price of $21.65 per share, with a total value of $99,979.70. Following the completion of the purchase, the senior vice president now directly owns 121,707 shares of the company’s stock, valued at approximately $2,634,956.55. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.
H&R Block Company Profile
H&R Block, Inc (H&R Block), through its subsidiaries, provides tax preparation and other services. The Company 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, Australia and their respective territories.
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