Edgestream Partners L.P. Makes New Investment in H&R Block, Inc. (NYSE:HRB)

Edgestream Partners L.P. purchased a new position in shares of H&R Block, Inc. (NYSE:HRB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 193,568 shares of the company's stock, valued at approximately $10,629,000. H&R Block comprises 0.4% of Edgestream Partners L.P.'s holdings, making the stock its 29th biggest holding. Edgestream Partners L.P. owned about 0.14% of H&R Block as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HRB. Arcus Capital Partners LLC purchased a new position in shares of H&R Block during the first quarter worth approximately $332,000. Alps Advisors Inc. grew its position in H&R Block by 4.9% during the 1st quarter. Alps Advisors Inc. now owns 313,312 shares of the company's stock worth $17,204,000 after purchasing an additional 14,518 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in H&R Block during the 1st quarter worth $213,000. Brown Advisory Inc. increased its stake in H&R Block by 1.6% in the first quarter. Brown Advisory Inc. now owns 11,942 shares of the company's stock valued at $656,000 after purchasing an additional 191 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of H&R Block by 18.1% in the first quarter. Crossmark Global Holdings Inc. now owns 126,486 shares of the company's stock valued at $6,945,000 after buying an additional 19,411 shares during the last quarter. Hedge funds and other institutional investors own 90.14% of the company's stock.

H&R Block Stock Performance

Shares of NYSE HRB traded down $0.18 during midday trading on Monday, hitting $55.95. The company's stock had a trading volume of 962,490 shares, compared to its average volume of 1,490,351. H&R Block, Inc. has a 1-year low of $49.16 and a 1-year high of $68.45. The firm's fifty day moving average price is $56.72 and its 200-day moving average price is $55.60. The firm has a market cap of $7.49 billion, a P/E ratio of 13.71, a P/E/G ratio of 0.88 and a beta of 0.24.

H&R Block (NYSE:HRB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $5.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.26. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. H&R Block had a negative return on equity of 179.57% and a net margin of 15.20%. The business's revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $4.94 EPS. As a group, research analysts predict that H&R Block, Inc. will post 5.25 earnings per share for the current fiscal year.

H&R Block Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were given a dividend of $0.375 per share. The ex-dividend date was Wednesday, June 4th. This represents a $1.50 dividend on an annualized basis and a yield of 2.68%. H&R Block's dividend payout ratio (DPR) is presently 36.76%.

Insider Activity

In other H&R Block news, CEO Jeffrey J. Jones II sold 53,810 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $63.28, for a total transaction of $3,405,096.80. Following the completion of the transaction, the chief executive officer directly owned 844,790 shares of the company's stock, valued at approximately $53,458,311.20. This trade represents a 5.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on HRB shares. The Goldman Sachs Group boosted their price target on shares of H&R Block from $49.00 to $54.00 and gave the stock a "sell" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded shares of H&R Block from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Northcoast Research lowered shares of H&R Block from a "buy" rating to a "neutral" rating in a report on Friday, May 2nd. Finally, Barrington Research reiterated an "outperform" rating and issued a $70.00 price target on shares of H&R Block in a research note on Friday, April 25th.

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.