Redwood Investment Management LLC Grows Stock Position in H&R Block, Inc. (NYSE:HRB)

Redwood Investment Management LLC boosted its position in shares of H&R Block, Inc. (NYSE:HRB) by 239.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 125,101 shares of the company’s stock after buying an additional 88,246 shares during the quarter. Redwood Investment Management LLC owned approximately 0.09% of H&R Block worth $6,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. boosted its position in H&R Block by 110.5% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,768,425 shares of the company’s stock valued at $119,208,000 after acquiring an additional 1,453,504 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of H&R Block by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,469,698 shares of the company’s stock worth $119,463,000 after acquiring an additional 79,759 shares during the period. Norges Bank purchased a new position in shares of H&R Block during the fourth quarter valued at approximately $82,605,000. Pacer Advisors Inc. increased its position in H&R Block by 0.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,574,162 shares of the company’s stock valued at $76,142,000 after acquiring an additional 14,268 shares during the last quarter. Finally, NewEdge Wealth LLC lifted its stake in shares of H&R Block by 12.5% in the 4th quarter. NewEdge Wealth LLC now owns 1,133,994 shares of the company’s stock worth $54,851,000 after purchasing an additional 126,248 shares during the period. 90.14% of the stock is owned by institutional investors.

H&R Block Stock Down 0.5 %

H&R Block stock traded down $0.27 during mid-day trading on Tuesday, reaching $49.85. 989,864 shares of the company’s stock traded hands, compared to its average volume of 1,109,420. H&R Block, Inc. has a 12-month low of $30.66 and a 12-month high of $54.21. The stock has a 50 day moving average of $49.16 and a two-hundred day moving average of $47.97. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.93 and a beta of 0.69.

H&R Block (NYSE:HRB) last announced its earnings results on Thursday, May 9th. The company reported $4.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.28. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.14 billion. H&R Block had a net margin of 17.87% and a negative return on equity of 224.81%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $4.20 EPS. As a group, sell-side analysts forecast that H&R Block, Inc. will post 4.29 earnings per share for the current year.

H&R Block Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 5th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Wednesday, June 5th. H&R Block’s payout ratio is 29.29%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HRB. Barrington Research lifted their price target on shares of H&R Block from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. StockNews.com upgraded shares of H&R Block from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th.

H&R Block Company Profile

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.