Envestnet Asset Management Inc. Purchases 105,973 Shares of H&R Block, Inc. (NYSE:HRB)

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

Several other institutional investors have also made changes to their positions in HRB. Harbour Investments Inc. lifted its holdings in shares of H&R Block by 1,552.2% during the 4th quarter. Harbour Investments Inc. now owns 1,520 shares of the company's stock valued at $80,000 after buying an additional 1,428 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of H&R Block by 129.2% during the 1st quarter. GAMMA Investing LLC now owns 1,508 shares of the company's stock valued at $83,000 after buying an additional 850 shares during the last quarter. GeoWealth Management LLC lifted its holdings in shares of H&R Block by 87.0% during the 4th quarter. GeoWealth Management LLC now owns 1,612 shares of the company's stock valued at $85,000 after buying an additional 750 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of H&R Block during the 4th quarter valued at about $85,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in H&R Block by 11.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,646 shares of the company's stock worth $144,000 after purchasing an additional 263 shares during the last quarter. 90.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded H&R Block from a "hold" rating to a "buy" rating in a report 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 report on Thursday, May 8th. Barrington Research restated an "outperform" rating and issued a $70.00 target price on shares of H&R Block in a report on Friday, April 25th. Finally, Northcoast Research lowered H&R Block from a "buy" rating to a "neutral" rating in a report on Friday, May 2nd.

H&R Block Stock Down 0.2%

Shares of HRB stock traded down $0.12 during trading hours on Thursday, reaching $55.56. 991,633 shares of the company's stock were exchanged, compared to its average volume of 1,403,297. H&R Block, Inc. has a fifty-two week low of $49.16 and a fifty-two week high of $68.45. The stock has a market capitalization of $7.44 billion, a P/E ratio of 13.62, a P/E/G ratio of 0.87 and a beta of 0.24. The business has a fifty day moving average price of $56.30 and a 200-day moving average price of $55.64.

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

H&R Block Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were issued 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 dividend yield of 2.70%. H&R Block's dividend payout ratio (DPR) is presently 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.