H&R Block, Inc. (NYSE:HRB) Shares Bought by LGT Group Foundation

Key Points

• LGT Group Foundation increased its stake in H&R Block by 59.8%, acquiring 14,713 additional shares, bringing their total holdings to 39,321 shares valued at approximately $2.16 million.
• H&R Block's earnings per share for the last quarter was reported at $2.27, missing analysts' expectations of $2.81, but revenue rose 4.6% year-over-year to $1.11 billion.
• The company has declared an increase in its quarterly dividend from $0.38 to $0.42, leading to an annualized dividend of $1.68 and a yield of 3.3%.

LGT Group Foundation boosted its position in shares of H&R Block, Inc. (NYSE:HRB - Free Report) by 59.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,321 shares of the company's stock after buying an additional 14,713 shares during the quarter. LGT Group Foundation's holdings in H&R Block were worth $2,159,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HRB. Lazard Asset Management LLC grew its position in H&R Block by 36.8% during the fourth quarter. Lazard Asset Management LLC now owns 2,585,026 shares of the company's stock valued at $136,591,000 after buying an additional 695,581 shares during the period. Miller Howard Investments Inc. NY acquired a new position in shares of H&R Block during the 1st quarter worth approximately $30,429,000. Fuller & Thaler Asset Management Inc. raised its stake in shares of H&R Block by 12.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,701,896 shares of the company's stock worth $248,448,000 after buying an additional 523,353 shares during the period. Bank of America Corp DE raised its stake in shares of H&R Block by 88.3% during the 4th quarter. Bank of America Corp DE now owns 914,884 shares of the company's stock worth $48,342,000 after buying an additional 429,101 shares during the period. Finally, Boston Trust Walden Corp raised its stake in shares of H&R Block by 52.2% during the 1st quarter. Boston Trust Walden Corp now owns 735,757 shares of the company's stock worth $40,400,000 after buying an additional 252,185 shares during the period. Institutional investors and hedge funds own 90.14% of the company's stock.

H&R Block Price Performance

Shares of NYSE:HRB opened at $51.49 on Wednesday. The business's 50 day moving average price is $55.44 and its 200-day moving average price is $55.79. The firm has a market capitalization of $6.89 billion, a PE ratio of 12.62, a P/E/G ratio of 0.85 and a beta of 0.24. H&R Block, Inc. has a 1 year low of $49.16 and a 1 year high of $68.45.

H&R Block (NYSE:HRB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $2.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.81 by ($0.54). The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. H&R Block had a negative return on equity of 179.57% and a net margin of 15.20%. The business's revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 earnings per share. As a group, analysts expect that H&R Block, Inc. will post 5.25 earnings per share for the current year.

H&R Block Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Thursday, September 4th will be paid a $0.42 dividend. This is a positive change from H&R Block's previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.3%. H&R Block's payout ratio is currently 36.76%.

Wall Street Analysts Forecast Growth

HRB has been the subject of several research analyst reports. Barrington Research reaffirmed an "outperform" rating and set a $70.00 target price on shares of H&R Block in a research note on Friday, April 25th. Northcoast Research downgraded H&R Block from a "buy" rating to a "neutral" rating in a research note on Friday, May 2nd. Wall Street Zen raised H&R Block from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group upped their target price 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.

H&R Block Company 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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