Bank of New York Mellon Corp Has $91 Million Holdings in H&R Block, Inc. (NYSE:HRB)

Bank of New York Mellon Corp lessened its position in shares of H&R Block, Inc. (NYSE:HRB - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,657,188 shares of the company's stock after selling 27,550 shares during the period. Bank of New York Mellon Corp owned approximately 1.24% of H&R Block worth $90,996,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. lifted its position in shares of H&R Block by 3.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 6,909 shares of the company's stock worth $365,000 after buying an additional 259 shares during the last quarter. Bank of Nova Scotia grew its position in H&R Block by 4.4% during the 4th quarter. Bank of Nova Scotia now owns 6,170 shares of the company's stock worth $326,000 after acquiring an additional 261 shares during the last quarter. CIBC Private Wealth Group LLC grew 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 acquiring an additional 263 shares during the last quarter. Axxcess Wealth Management LLC raised its position in H&R Block by 7.7% in the fourth quarter. Axxcess Wealth Management LLC now owns 3,846 shares of the company's stock valued at $203,000 after purchasing an additional 274 shares during the last quarter. Finally, Invst LLC raised its position in H&R Block by 1.5% in the fourth quarter. Invst LLC now owns 18,187 shares of the company's stock valued at $961,000 after purchasing an additional 274 shares during the last quarter. 90.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Northcoast Research cut H&R Block from a "buy" rating to a "neutral" rating in a report on Friday, May 2nd. Barrington Research reissued an "outperform" rating and set a $70.00 target price on shares of H&R Block in a report on Friday, April 25th. Wall Street Zen raised shares of H&R Block from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group lifted their price target on shares of H&R Block from $49.00 to $54.00 and gave the stock a "sell" rating in a report on Thursday, May 8th.

H&R Block Stock Performance

Shares of HRB traded down $0.64 during mid-day trading on Friday, reaching $56.12. 846,533 shares of the company were exchanged, compared to its average volume of 1,403,425. The business has a 50 day simple moving average of $56.72 and a two-hundred day simple moving average of $55.59. The stock has a market capitalization of $7.51 billion, a PE ratio of 13.75, a PEG ratio of 0.88 and a beta of 0.24. H&R Block, Inc. has a 52 week low of $49.16 and a 52 week high of $68.45.

H&R Block (NYSE:HRB - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $5.38 earnings per share for the quarter, beating 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 business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the firm posted $4.94 EPS. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts predict that H&R Block, Inc. will post 5.25 EPS for the current year.

H&R Block Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Wednesday, June 4th. H&R Block's dividend payout ratio (DPR) is presently 36.76%.

Insiders Place Their Bets

In other H&R Block news, CEO Jeffrey J. Jones II sold 53,810 shares of the company's stock in a transaction 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 sale, the chief executive officer owned 844,790 shares of the company's stock, valued at approximately $53,458,311.20. This represents a 5.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

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.