15,614 Shares in H&R Block, Inc. (NYSE:HRB) Acquired by CCM Investment Group LLC

Key Points

• CCM Investment Group LLC purchased 15,614 shares of H&R Block, Inc., valued at approximately $845,000, indicating strong interest from institutional investors in the stock.
• Other hedge funds have also increased their positions significantly, with Bogart Wealth LLC raising its stake by 42.9% during the first quarter.
• Equities research analysts have mixed opinions on H&R Block, with ratings ranging from a "buy" from Wall Street Zen to a "sell" from Goldman Sachs, reflecting varying expectations for the company's performance.

CCM Investment Group LLC acquired a new position in H&R Block, Inc. (NYSE:HRB - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,614 shares of the company's stock, valued at approximately $845,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HRB. Bogart Wealth LLC boosted its holdings in shares of H&R Block by 42.9% in the 1st quarter. Bogart Wealth LLC now owns 666 shares of the company's stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Covestor Ltd lifted its stake in shares of H&R Block by 21.8% in the 1st quarter. Covestor Ltd now owns 1,356 shares of the company's stock valued at $75,000 after acquiring an additional 243 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of H&R Block by 129.2% in the 1st quarter. GAMMA Investing LLC now owns 1,508 shares of the company's stock valued at $83,000 after acquiring an additional 850 shares during the last quarter. GeoWealth Management LLC lifted its stake in shares of H&R Block by 87.0% in the 4th quarter. GeoWealth Management LLC now owns 1,612 shares of the company's stock valued at $85,000 after acquiring an additional 750 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of H&R Block in the 4th quarter valued at about $85,000. 90.14% of the stock is currently owned by hedge funds and other institutional investors.

H&R Block Trading Up 1.2%

HRB traded up $0.58 during midday trading on Friday, reaching $49.95. 663,410 shares of the company's stock traded hands, compared to its average volume of 1,474,171. H&R Block, Inc. has a 52 week low of $47.00 and a 52 week high of $68.45. The firm has a fifty day moving average of $55.10 and a two-hundred day moving average of $55.71. The company has a debt-to-equity ratio of 12.86, a current ratio of 0.90 and a quick ratio of 0.78. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 0.81 and a beta of 0.24.

H&R Block (NYSE:HRB - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $2.27 earnings per share for the quarter, missing analysts' consensus estimates of $2.81 by ($0.54). H&R Block had a negative return on equity of 191.38% and a net margin of 16.11%. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter last year, the company posted $1.89 EPS. The firm's revenue was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that H&R Block, Inc. will post 5.25 earnings per share for the current fiscal year.

H&R Block Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.42 per share. This is a positive change from H&R Block's previous quarterly dividend of $0.38. The ex-dividend date is Thursday, September 4th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.4%. H&R Block's dividend payout ratio (DPR) is currently 33.56%.

Analyst Ratings Changes

HRB has been the subject of a number of recent research reports. Barrington Research lowered their target price on H&R Block from $70.00 to $62.00 and set an "outperform" rating for the company in a research note on Wednesday. The Goldman Sachs Group lowered their price target on H&R Block from $54.00 to $48.00 and set a "sell" rating for the company in a research report on Wednesday. Wall Street Zen raised H&R Block from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Northcoast Research lowered H&R Block from a "buy" rating to a "neutral" rating in a research report on Friday, May 2nd.

About H&R Block

H&R Block, Inc engages in the provision of tax return preparation solutions, financial products and small business solutions. The company was founded by Henry W. Bloch and Richard A. Bloch on January 25, 1955, and is headquartered in Kansas City, MO.