Entropy Technologies LP Invests $1.32 Million in H&R Block, Inc. (NYSE:HRB)

Key Points

• Entropy Technologies LP has made a new investment of approximately $1.32 million in H&R Block, acquiring 23,991 shares in the first quarter.
• Institutional investors and hedge funds collectively own 90.14% of H&R Block's stock, highlighting significant institutional interest in the company.
• H&R Block's stock is currently valued at $54.52, and analysts have issued mixed ratings, with price targets ranging from $49.00 to $70.00.

Entropy Technologies LP purchased a new stake in H&R Block, Inc. (NYSE:HRB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 23,991 shares of the company's stock, valued at approximately $1,317,000.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of H&R Block by 98.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 100,601 shares of the company's stock worth $5,667,000 after acquiring an additional 49,827 shares during the period. Truist Financial Corp boosted its stake in shares of H&R Block by 13.5% during the 1st quarter. Truist Financial Corp now owns 767,369 shares of the company's stock worth $42,136,000 after acquiring an additional 91,075 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of H&R Block by 17.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 703,672 shares of the company's stock worth $38,639,000 after acquiring an additional 105,973 shares during the period. Asset Management One Co. Ltd. bought a new position in shares of H&R Block during the 1st quarter worth approximately $1,317,000. Finally, Brown Advisory Inc. boosted its stake in shares of H&R Block by 1.6% during the 1st quarter. Brown Advisory Inc. now owns 11,942 shares of the company's stock worth $656,000 after acquiring an additional 191 shares during the period. 90.14% of the stock is currently owned by institutional investors.

H&R Block Stock Down 3.0%

Shares of NYSE:HRB traded down $1.56 during trading on Wednesday, reaching $49.94. 6,244,730 shares of the company traded hands, compared to its average volume of 1,112,316. The company's 50 day moving average is $55.27 and its two-hundred day moving average is $55.75. The firm has a market capitalization of $6.69 billion, a PE ratio of 11.17, a PEG ratio of 0.81 and a beta of 0.24. H&R Block, Inc. has a 52 week low of $47.00 and a 52 week high of $68.45.

H&R Block (NYSE:HRB - Get Free Report) last released 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). The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. H&R Block had a net margin of 16.11% and a negative return on equity of 134.63%. The business's revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 earnings per share. As a group, research analysts anticipate that H&R Block, Inc. will post 5.25 EPS for the current year.

H&R Block Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.42 per share. This is an increase from H&R Block's previous quarterly dividend of $0.38. The ex-dividend date of this dividend 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 payout ratio is presently 36.76%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HRB shares. Wall Street Zen upgraded H&R Block from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Northcoast Research downgraded H&R Block from a "buy" rating to a "neutral" rating in a research note on Friday, May 2nd. Barrington Research reduced their price target on H&R Block from $70.00 to $62.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group reduced their price target on H&R Block from $54.00 to $48.00 and set a "sell" rating for the company in a research note on Wednesday.

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.