Korea Investment CORP Has $5.54 Million Stake in H&R Block, Inc. (HRB)
Korea Investment CORP raised its stake in H&R Block, Inc. (NYSE:HRB) by 29.9% during the second quarter, Holdings Channel reports. The firm owned 179,200 shares of the company’s stock after buying an additional 41,200 shares during the period. Korea Investment CORP’s holdings in H&R Block were worth $5,539,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of H&R Block by 58.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,567 shares of the company’s stock valued at $106,000 after buying an additional 1,682 shares during the period. TrimTabs Asset Management LLC boosted its stake in shares of H&R Block by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 4,640 shares of the company’s stock valued at $108,000 after buying an additional 2,184 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of H&R Block during the first quarter valued at $122,000. Salem Investment Counselors Inc. acquired a new stake in shares of H&R Block during the first quarter valued at $136,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of H&R Block by 24.1% in the first quarter. Daiwa Securities Group Inc. now owns 6,700 shares of the company’s stock valued at $156,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 92.81% of the company’s stock.
H&R Block, Inc. (NYSE:HRB) opened at 30.70 on Friday. The stock has a 50 day moving average of $30.69 and a 200 day moving average of $25.70. H&R Block, Inc. has a 12 month low of $19.85 and a 12 month high of $31.70. The firm has a market capitalization of $6.36 billion, a PE ratio of 16.12 and a beta of 0.54.
H&R Block (NYSE:HRB) last announced its quarterly earnings results on Tuesday, June 13th. The company reported $3.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.53 by $0.23. H&R Block had a net margin of 13.47% and a negative return on equity of 104.14%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the firm posted $3.16 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts predict that H&R Block, Inc. will post $1.99 earnings per share for the current fiscal year.
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Several analysts have weighed in on the stock. BidaskClub cut shares of H&R Block from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Morgan Stanley lifted their price objective on shares of H&R Block from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 14th. Barrington Research lifted their price objective on shares of H&R Block from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, June 19th. BMO Capital Markets lifted their price objective on shares of H&R Block from $26.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday, June 16th. Finally, Zacks Investment Research upgraded shares of H&R Block from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Thursday, June 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. H&R Block presently has a consensus rating of “Hold” and an average target price of $27.67.
In other news, Director David B. Lewis sold 8,000 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $30.01, for a total value of $240,080.00. Following the sale, the director now directly owns 82,083 shares of the company’s stock, valued at $2,463,310.83. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William C. Cobb sold 750,000 shares of the stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $30.40, for a total transaction of $22,800,000.00. Following the completion of the sale, the insider now directly owns 1,301,458 shares in the company, valued at $39,564,323.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,473,471 shares of company stock worth $45,309,203. Insiders own 0.63% of the company’s stock.
About H&R Block
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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