Sound Income Strategies LLC Has $7.87 Million Stock Position in H&R Block, Inc. (NYSE:HRB)

Sound Income Strategies LLC lowered its stake in H&R Block, Inc. (NYSE:HRB - Free Report) by 22.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,325 shares of the company's stock after selling 41,049 shares during the period. Sound Income Strategies LLC owned approximately 0.11% of H&R Block worth $7,870,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of H&R Block by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 14,253,276 shares of the company's stock valued at $753,143,000 after acquiring an additional 35,945 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in H&R Block by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,219,462 shares of the company's stock valued at $275,796,000 after purchasing an additional 282,633 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of H&R Block by 12.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,701,896 shares of the company's stock valued at $248,448,000 after purchasing an additional 523,353 shares in the last quarter. Boston Partners boosted its position in shares of H&R Block by 58.5% in the fourth quarter. Boston Partners now owns 4,500,552 shares of the company's stock worth $237,814,000 after buying an additional 1,660,319 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 90.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised 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. Northcoast Research lowered shares of H&R Block from a "buy" rating to a "neutral" rating in a research report on Friday, May 2nd. Barrington Research reaffirmed an "outperform" rating and set a $70.00 price objective on shares of H&R Block in a research report on Friday, April 25th. Finally, 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.

Insider Activity

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

H&R Block Price Performance

HRB traded down $0.01 during trading on Wednesday, reaching $55.09. 896,268 shares of the stock traded hands, compared to its average volume of 1,390,724. The stock's 50-day simple moving average is $58.56 and its two-hundred day simple moving average is $55.66. H&R Block, Inc. has a fifty-two week low of $49.16 and a fifty-two week high of $68.45. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.84 and a beta of 0.25.

H&R Block (NYSE:HRB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $5.38 EPS for the quarter, beating the consensus estimate of $5.12 by $0.26. H&R Block had a negative return on equity of 179.57% and a net margin of 15.20%. The business had revenue of $2.28 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the previous year, the business posted $4.94 EPS. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. Research analysts anticipate that H&R Block, Inc. will post 5.25 earnings per share for the current fiscal year.

H&R Block Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.375 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.72%. H&R Block's dividend payout ratio is currently 36.76%.

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.