Truist Financial Corp Has $42.14 Million Stock Holdings in H&R Block, Inc. (NYSE:HRB)

Truist Financial Corp increased its position in shares of H&R Block, Inc. (NYSE:HRB - Free Report) by 13.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 767,369 shares of the company's stock after buying an additional 91,075 shares during the quarter. Truist Financial Corp owned 0.57% of H&R Block worth $42,136,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in H&R Block during the fourth quarter worth about $46,000. Harbour Investments Inc. lifted its stake in H&R Block by 1,552.2% during the fourth quarter. Harbour Investments Inc. now owns 1,520 shares of the company's stock worth $80,000 after purchasing an additional 1,428 shares during the period. GAMMA Investing LLC lifted its stake in H&R Block by 129.2% during the first quarter. GAMMA Investing LLC now owns 1,508 shares of the company's stock worth $83,000 after purchasing an additional 850 shares during the period. GeoWealth Management LLC lifted its stake in H&R Block by 87.0% during the fourth quarter. GeoWealth Management LLC now owns 1,612 shares of the company's stock worth $85,000 after purchasing an additional 750 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in H&R Block during the fourth quarter worth about $85,000. 90.14% of the stock is owned by institutional investors and hedge funds.

H&R Block Trading Up 0.3%

NYSE:HRB opened at $56.08 on Monday. H&R Block, Inc. has a 1 year low of $49.16 and a 1 year high of $68.45. The firm has a 50 day moving average of $57.27 and a 200-day moving average of $55.55. The stock has a market capitalization of $7.51 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 0.88 and a beta of 0.24.

H&R Block (NYSE:HRB - Get Free Report) last posted its earnings results 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. 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 during the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the previous year, the company posted $4.94 earnings per share. H&R Block's quarterly revenue was up 4.2% compared to the same quarter last year. As a group, analysts forecast that H&R Block, Inc. will post 5.25 EPS for the current fiscal year.

H&R Block Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Wednesday, June 4th. H&R Block's dividend payout ratio (DPR) is currently 36.76%.

Insider Activity

In related news, CEO Jeffrey J. Jones II sold 53,810 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $63.28, for a total value of $3,405,096.80. Following the completion of the transaction, the chief executive officer owned 844,790 shares in the company, valued at $53,458,311.20. The trade was a 5.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. The Goldman Sachs Group raised their price target 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. Northcoast Research cut shares of H&R Block from a "buy" rating to a "neutral" rating in a research note on Friday, May 2nd. 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, Barrington Research restated an "outperform" rating and set a $70.00 price target on shares of H&R Block in a research note on Friday, April 25th.

H&R Block 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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