Teacher Retirement System of Texas Trims Stock Position in H&R Block, Inc. (NYSE:HRB)

Teacher Retirement System of Texas reduced its stake in shares of H&R Block, Inc. (NYSE:HRB - Free Report) by 69.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,903 shares of the company's stock after selling 86,437 shares during the quarter. Teacher Retirement System of Texas' holdings in H&R Block were worth $2,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in H&R Block in the 4th quarter valued at $2,080,000. Raymond James Financial Inc. bought a new stake in shares of H&R Block in the fourth quarter worth about $10,725,000. PNC Financial Services Group Inc. increased its holdings in shares of H&R Block by 11.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 20,196 shares of the company's stock worth $1,067,000 after purchasing an additional 2,088 shares during the last quarter. Amundi increased its holdings in shares of H&R Block by 1.5% in the fourth quarter. Amundi now owns 87,240 shares of the company's stock worth $4,738,000 after purchasing an additional 1,307 shares during the last quarter. Finally, Wealthfront Advisers LLC lifted its position in shares of H&R Block by 143.0% in the fourth quarter. Wealthfront Advisers LLC now owns 47,716 shares of the company's stock worth $2,521,000 after buying an additional 28,082 shares in the last quarter. Institutional investors own 90.14% of the company's stock.

H&R Block Trading Down 1.1%

Shares of NYSE HRB traded down $0.64 during trading hours on Friday, hitting $56.12. 846,533 shares of the company traded hands, compared to its average volume of 1,399,140. The company's 50 day moving average price is $56.84 and its 200 day moving average price is $55.57. H&R Block, Inc. has a 12 month low of $49.16 and a 12 month high of $68.45. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 0.87 and a beta of 0.24.

H&R Block (NYSE:HRB - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $2.28 billion for 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 was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.94 earnings per share. Equities analysts anticipate that H&R Block, Inc. will post 5.25 EPS for the current 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 given a dividend of $0.375 per share. The ex-dividend date was Wednesday, June 4th. This represents a $1.50 annualized dividend and a dividend yield of 2.67%. H&R Block's dividend payout ratio (DPR) is presently 36.76%.

Insider Activity at H&R Block

In related news, CEO Jeffrey J. Jones II sold 53,810 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $63.28, for a total transaction of $3,405,096.80. Following the completion of the sale, the chief executive officer directly owned 844,790 shares of the company's stock, valued at approximately $53,458,311.20. This trade represents a 5.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.