Nisa Investment Advisors LLC Sells 11,597 Shares of H&R Block, Inc. (NYSE:HRB)

Nisa Investment Advisors LLC cut its stake in H&R Block, Inc. (NYSE:HRB - Free Report) by 16.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,885 shares of the company's stock after selling 11,597 shares during the quarter. Nisa Investment Advisors LLC's holdings in H&R Block were worth $3,369,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Valeo Financial Advisors LLC bought a new position in H&R Block in the 1st quarter worth $213,000. Brown Advisory Inc. increased its stake in shares of H&R Block by 1.6% in the 1st quarter. Brown Advisory Inc. now owns 11,942 shares of the company's stock worth $656,000 after acquiring an additional 191 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in H&R Block by 18.1% during the 1st quarter. Crossmark Global Holdings Inc. now owns 126,486 shares of the company's stock valued at $6,945,000 after purchasing an additional 19,411 shares in the last quarter. TD Private Client Wealth LLC increased its stake in H&R Block by 25.6% during the 1st quarter. TD Private Client Wealth LLC now owns 8,745 shares of the company's stock valued at $480,000 after purchasing an additional 1,784 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in H&R Block by 17.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 703,672 shares of the company's stock valued at $38,639,000 after purchasing an additional 105,973 shares in the last quarter. 90.14% of the stock is currently owned by institutional investors.

H&R Block Price Performance

Shares of HRB stock traded up $0.79 during mid-day trading on Wednesday, hitting $55.68. The company had a trading volume of 848,119 shares, compared to its average volume of 1,399,513. H&R Block, Inc. has a 52-week low of $49.16 and a 52-week high of $68.45. The stock's 50 day moving average price is $56.48 and its 200-day moving average price is $55.62. The company has a market capitalization of $7.45 billion, a P/E ratio of 13.65, a P/E/G ratio of 0.88 and a beta of 0.24.

H&R Block (NYSE:HRB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $5.38 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the previous year, the business posted $4.94 earnings per share. H&R Block's quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts expect that H&R Block, Inc. will post 5.25 earnings per share for the current year.

H&R Block Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on HRB. The Goldman Sachs Group raised their price objective on shares of H&R Block from $49.00 to $54.00 and gave the company a "sell" rating in a research note on Thursday, May 8th. Barrington Research restated an "outperform" rating and set a $70.00 price objective on shares of H&R Block in a research note on Friday, April 25th. Wall Street Zen upgraded shares of H&R Block from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Northcoast Research lowered shares of H&R Block from a "buy" rating to a "neutral" rating in a research note on Friday, May 2nd.

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.