H&R Block, Inc. (NYSE:HRB) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its position in H&R Block by 20.6%, selling 77,100 shares in the first quarter.
• Several institutional investors have recently adjusted their positions, with Brown Advisory Inc. raising its stake by 1.6% and Bogart Wealth LLC increasing theirs by 42.9% during the same period.
• H&R Block announced a quarterly dividend of $0.375, yielding 2.69%, and recently reported earnings of $5.38 per share, exceeding analysts' expectations of $5.12.

Skandinaviska Enskilda Banken AB publ cut its position in H&R Block, Inc. (NYSE:HRB - Free Report) by 20.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 297,500 shares of the company's stock after selling 77,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.22% of H&R Block worth $16,336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of H&R Block by 98.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 100,601 shares of the company's stock worth $5,667,000 after buying an additional 49,827 shares in the last quarter. Truist Financial Corp boosted its holdings 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 buying an additional 91,075 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of H&R Block by 17.7% during the first quarter. Envestnet Asset Management Inc. now owns 703,672 shares of the company's stock worth $38,639,000 after purchasing an additional 105,973 shares during the period. Asset Management One Co. Ltd. purchased a new stake in shares of H&R Block during the 1st quarter valued at $1,317,000. Finally, Martingale Asset Management L P increased its position in shares of H&R Block by 620.0% during the 4th quarter. Martingale Asset Management L P now owns 29,225 shares of the company's stock valued at $1,544,000 after purchasing an additional 25,166 shares during the last quarter. 90.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HRB has been the subject of several research reports. The Goldman Sachs Group increased their price target on H&R Block from $49.00 to $54.00 and gave the stock a "sell" rating in a research note on Thursday, May 8th. Northcoast Research downgraded H&R Block from a "buy" rating to a "neutral" rating in a report on Friday, May 2nd. Wall Street Zen upgraded H&R Block from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Barrington Research restated an "outperform" rating and set a $70.00 price target on shares of H&R Block in a report on Friday, April 25th.

H&R Block Stock Down 0.7%

Shares of H&R Block stock traded down $0.37 on Friday, reaching $55.86. The company's stock had a trading volume of 1,043,305 shares, compared to its average volume of 994,060. The stock has a 50-day moving average price of $56.17 and a 200-day moving average price of $55.78. H&R Block, Inc. has a 52-week low of $49.16 and a 52-week high of $68.45. The company has a market capitalization of $7.48 billion, a P/E ratio of 13.69, a PEG ratio of 0.87 and a beta of 0.24.

H&R Block (NYSE:HRB - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $5.38 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the business posted $4.94 earnings per share. The company's quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts forecast that H&R Block, Inc. will post 5.25 earnings per share for the current fiscal year.

H&R Block Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Wednesday, June 4th. H&R Block's dividend payout ratio (DPR) is 36.76%.

H&R Block Profile

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.