Envestnet Asset Management Inc. Has $38.64 Million Stake in H&R Block, Inc. (NYSE:HRB)

Envestnet Asset Management Inc. increased its stake in shares of H&R Block, Inc. (NYSE:HRB - Free Report) by 17.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 703,672 shares of the company's stock after purchasing an additional 105,973 shares during the quarter. Envestnet Asset Management Inc. owned about 0.53% of H&R Block worth $38,639,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of HRB. Boston Partners boosted its stake in shares of H&R Block by 58.5% in the 4th quarter. Boston Partners now owns 4,500,552 shares of the company's stock valued at $237,814,000 after purchasing an additional 1,660,319 shares during the last quarter. Norges Bank bought a new position in H&R Block in the fourth quarter valued at approximately $57,253,000. Lazard Asset Management LLC grew its holdings in H&R Block by 36.8% during the 4th quarter. Lazard Asset Management LLC now owns 2,585,026 shares of the company's stock worth $136,591,000 after acquiring an additional 695,581 shares during the period. Miller Howard Investments Inc. NY bought a new stake in shares of H&R Block during the 1st quarter valued at $30,429,000. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in shares of H&R Block by 12.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,701,896 shares of the company's stock valued at $248,448,000 after purchasing an additional 523,353 shares during the period. Institutional investors and hedge funds own 90.14% of the company's stock.

Insiders Place Their Bets

In other news, CEO Jeffrey J. Jones II sold 53,810 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were 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 $53,458,311.20. This trade represents a 5.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

H&R Block Stock Down 1.1%

H&R Block stock opened at $56.12 on Monday. The company has a 50 day moving average of $56.72 and a 200-day moving average of $55.60. H&R Block, Inc. has a twelve month low of $49.16 and a twelve month high of $68.45. The stock has a market capitalization of $7.51 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.88 and a beta of 0.24.

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

H&R Block Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Wednesday, June 4th. H&R Block's payout ratio is 36.76%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.