Johnson Financial Group Inc. Purchases Shares of 1,049 Block, Inc. $XYZ

Johnson Financial Group Inc. acquired a new position in shares of Block, Inc. (NYSE:XYZ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,049 shares of the technology company’s stock, valued at approximately $71,000.

Other large investors have also modified their holdings of the company. Motley Fool Asset Management LLC acquired a new position in Block in the 2nd quarter valued at about $2,055,000. Y.D. More Investments Ltd acquired a new position in shares of Block in the second quarter valued at approximately $1,628,000. Lane Generational LLC acquired a new position in shares of Block in the second quarter valued at approximately $6,043,000. Cidel Asset Management Inc. acquired a new stake in shares of Block during the second quarter worth $311,000. Finally, Bessemer Group Inc. acquired a new stake in shares of Block during the second quarter worth $62,389,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Activity at Block

In related news, insider Arnaud Weber sold 7,095 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $61.40, for a total value of $435,633.00. Following the sale, the insider directly owned 259,136 shares in the company, valued at $15,910,950.40. The trade was a 2.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Owen Britton Jennings sold 10,417 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $639,603.80. Following the completion of the sale, the insider directly owned 243,540 shares in the company, valued at approximately $14,953,356. The trade was a 4.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 108,958 shares of company stock valued at $7,712,257 in the last 90 days. 10.85% of the stock is owned by corporate insiders.

Analyst Ratings Changes

XYZ has been the topic of several recent research reports. Piper Sandler dropped their price objective on shares of Block from $58.00 to $55.00 and set an “underweight” rating on the stock in a research note on Friday, November 7th. Macquarie boosted their price target on shares of Block from $50.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 12th. BTIG Research reissued a “buy” rating and set a $90.00 price target on shares of Block in a report on Thursday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Block in a report on Monday, November 24th. Finally, KeyCorp reissued an “overweight” rating and set a $94.00 target price on shares of Block in a research note on Wednesday, October 22nd. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Block has an average rating of “Moderate Buy” and an average target price of $83.42.

Block Trading Up 2.6%

Shares of Block stock opened at $66.69 on Friday. The company has a 50-day moving average of $72.00 and a two-hundred day moving average of $70.85. Block, Inc. has a 12-month low of $44.27 and a 12-month high of $99.26. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. The stock has a market cap of $40.52 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 3.74 and a beta of 2.73.

Block (NYSE:XYZ) last announced its quarterly earnings results on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.25 by $0.29. The business had revenue of $6.11 billion for the quarter. Block had a return on equity of 5.54% and a net margin of 12.99%.Block’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. On average, research analysts anticipate that Block, Inc. will post 2.54 EPS for the current fiscal year.

Block Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.