NewEdge Wealth LLC Has $55.48 Million Stock Holdings in H&R Block, Inc. (NYSE:HRB)

Key Points

• NewEdge Wealth LLC reduced its stake in H&R Block by 7.8%, now owning approximately 1,010,446 shares valued at $55.48 million.
• H&R Block reported a quarterly earnings per share (EPS) of $5.38, surpassing analysts' estimates of $5.12, with a revenue increase of 4.2% year-over-year.
• The firm declared a quarterly dividend of $0.375 per share, which translates to an annual yield of 2.8% and a payout ratio of 36.76%.

NewEdge Wealth LLC trimmed its stake in shares of H&R Block, Inc. (NYSE:HRB - Free Report) by 7.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,010,446 shares of the company's stock after selling 85,266 shares during the quarter. H&R Block accounts for 1.0% of NewEdge Wealth LLC's portfolio, making the stock its 17th largest holding. NewEdge Wealth LLC owned approximately 0.75% of H&R Block worth $55,484,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Brown Advisory Inc. raised its stake in shares of H&R Block by 1.6% in the first quarter. Brown Advisory Inc. now owns 11,942 shares of the company's stock worth $656,000 after acquiring an additional 191 shares during the last quarter. Bogart Wealth LLC grew its stake in shares of H&R Block by 42.9% during the first 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. Bank of Nova Scotia increased its holdings in shares of H&R Block by 4.4% in the fourth quarter. Bank of Nova Scotia now owns 6,170 shares of the company's stock valued at $326,000 after purchasing an additional 261 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in H&R Block by 11.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,646 shares of the company's stock worth $144,000 after purchasing an additional 263 shares during the last quarter. Finally, Invst LLC raised its position in H&R Block by 1.5% in the 4th quarter. Invst LLC now owns 18,187 shares of the company's stock worth $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.

H&R Block Stock Performance

Shares of H&R Block stock opened at $54.50 on Friday. The firm has a fifty day moving average of $55.86 and a two-hundred day moving average of $55.77. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.85 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 issued its quarterly earnings data on Wednesday, May 7th. The company reported $5.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.12 by $0.26. The firm had revenue of $2.28 billion during the quarter, compared to analysts' expectations of $2.25 billion. H&R Block had a net margin of 15.20% and a negative return on equity of 179.57%. The business's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.94 earnings per share. As a group, research analysts forecast that H&R Block, Inc. will post 5.25 EPS for the current fiscal year.

H&R Block Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.375 per share. The ex-dividend date was Wednesday, June 4th. This represents a $1.50 annualized dividend and a yield of 2.8%. H&R Block's payout ratio is currently 36.76%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on HRB shares. Barrington Research reiterated an "outperform" rating and issued a $70.00 price objective on shares of H&R Block in a research report on Friday, April 25th. Wall Street Zen upgraded 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 stock a "sell" rating in a research report on Thursday, May 8th. Finally, Northcoast Research downgraded shares of H&R Block from a "buy" rating to a "neutral" rating in a research report on Friday, May 2nd.

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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