H&R Block, Inc. (NYSE:HRB) Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in H&R Block, Inc. by 39.7%, acquiring an additional 14,934 shares, bringing its total holdings to 52,532 shares valued at approximately $2.88 million.
• Various institutional investors, including Bogart Wealth LLC and GAMMA Investing LLC, have also significantly increased their positions in H&R Block during the first quarter of 2024.
• After reporting earnings that exceeded analysts' expectations, H&R Block's stock exhibited a 0.4% decline on the trading day following the announcement, with a current stock price of $54.76.

Cetera Investment Advisers boosted its stake in H&R Block, Inc. (NYSE:HRB - Free Report) by 39.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,532 shares of the company's stock after acquiring an additional 14,934 shares during the period. Cetera Investment Advisers' holdings in H&R Block were worth $2,884,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in HRB. Bogart Wealth LLC grew its stake in shares of H&R Block by 42.9% in the 1st quarter. Bogart Wealth LLC now owns 666 shares of the company's stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of H&R Block by 129.2% during the first quarter. GAMMA Investing LLC now owns 1,508 shares of the company's stock worth $83,000 after purchasing an additional 850 shares during the period. GeoWealth Management LLC grew its position in H&R Block by 87.0% in 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 position in H&R Block in the 4th quarter valued at $85,000. Finally, CIBC Private Wealth Group LLC raised its position in H&R Block by 11.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,646 shares of the company's stock worth $144,000 after buying an additional 263 shares during the last quarter. Institutional investors and hedge funds own 90.14% of the company's stock.

Analyst Upgrades and Downgrades

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

H&R Block Stock Down 0.4%

NYSE:HRB opened at $54.76 on Wednesday. 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 cap of $7.33 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 0.86 and a beta of 0.24. The firm's fifty day simple moving average is $55.75 and its 200-day simple moving average is $55.77.

H&R Block (NYSE:HRB - Get Free Report) last released its quarterly earnings data 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 net margin of 15.20% and a negative return on equity of 179.57%. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the firm earned $4.94 earnings per share. The firm's revenue was up 4.2% on a year-over-year basis. Equities analysts anticipate that H&R Block, Inc. will post 5.25 earnings per share for the current year.

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.

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