NewEdge Advisors LLC Cuts Position in H&R Block, Inc. $HRB

Key Points

• NewEdge Advisors cut its H&R Block position by 73.5% in the first quarter, selling 39,383 shares and retaining 14,191 shares worth approximately $450,000. Institutional investors collectively own 90.14% of HRB.
• H&R Block exceeded quarterly expectations with $2.38 EPS versus the $2.21 consensus and $1.14 billion in revenue. The company raised its quarterly dividend from $0.42 to $0.46, equating to a 3.4% yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $46.67, below the stock’s reported $53.62 price.

NewEdge Advisors LLC trimmed its position in shares of H&R Block, Inc. (NYSE:HRB - Free Report) by 73.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,191 shares of the company's stock after selling 39,383 shares during the period. NewEdge Advisors LLC's holdings in H&R Block were worth $450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of HRB. Norges Bank purchased a new stake in shares of H&R Block in the 4th quarter valued at $69,441,000. Lazard Asset Management LLC lifted its stake in H&R Block by 50.9% during the 1st quarter. Lazard Asset Management LLC now owns 3,761,094 shares of the company's stock worth $119,377,000 after acquiring an additional 1,269,064 shares in the last quarter. AQR Capital Management LLC boosted its holdings in H&R Block by 60.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,593,290 shares of the company's stock valued at $130,961,000 after acquiring an additional 976,069 shares during the period. Ranmore Fund Management Ltd purchased a new position in H&R Block during the 4th quarter valued at about $41,314,000. Finally, Boston Partners grew its position in H&R Block by 20.2% in the 3rd quarter. Boston Partners now owns 3,886,544 shares of the company's stock valued at $196,542,000 after acquiring an additional 652,690 shares in the last quarter. 90.14% of the stock is currently owned by hedge funds and other institutional investors.

H&R Block Price Performance

Shares of NYSE HRB opened at $53.62 on Friday. The stock's 50-day simple moving average is $42.46 and its 200-day simple moving average is $36.48. The firm has a market capitalization of $6.80 billion, a PE ratio of 9.37, a price-to-earnings-growth ratio of 0.70 and a beta of 0.34. H&R Block, Inc. has a fifty-two week low of $28.16 and a fifty-two week high of $58.67. The company has a debt-to-equity ratio of 12.69, a quick ratio of 1.00 and a current ratio of 1.13.

H&R Block (NYSE:HRB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.17. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. H&R Block had a negative return on equity of 214.84% and a net margin of 18.59%.The firm's quarterly revenue was up 255.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.27 earnings per share. H&R Block has set its FY 2027 guidance at 6.040-6.240 EPS. As a group, equities research analysts forecast that H&R Block, Inc. will post 6.14 EPS for the current fiscal year.

H&R Block Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Thursday, September 3rd will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, September 3rd. This is a positive change from H&R Block's previous quarterly dividend of $0.42. H&R Block's dividend payout ratio (DPR) is currently 29.37%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Stephens began coverage on shares of H&R Block in a research report on Tuesday, July 28th. They set an "equal weight" rating and a $47.00 price target on the stock. Weiss Ratings upgraded shares of H&R Block from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 2nd. Barrington Research upped their target price on shares of H&R Block from $50.00 to $60.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. The Goldman Sachs Group increased their target price on shares of H&R Block from $29.00 to $33.00 and gave the stock a "sell" rating in a report on Wednesday, August 12th. Finally, Zacks Research cut shares of H&R Block from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $46.67.

H&R Block Company Profile

H&R Block NYSE: HRB is a leading provider of tax preparation services and software solutions, serving individual and small-business clients through a combination of retail offices, online platforms and mobile applications. The company offers assisted tax preparation at its network of retail offices, where clients work with trained tax professionals, as well as do-it-yourself (DIY) software and online filing services designed to guide users through the complexities of federal and state tax returns.

Founded in 1955 by brothers Henry W.

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