California Public Employees Retirement System Increases Stock Position in H&R Block, Inc. (NYSE:HRB) (2024)

Posted by MarketBeat News on Jan 28th, 2024

California Public Employees Retirement System grew its stake in shares of H&R Block, Inc. (NYSE:HRB – Free Report) by 5.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 287,610 shares of the company’s stock after buying an additional 14,747 shares during the period. California Public Employees Retirement System’s holdings in H&R Block were worth $12,384,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of H&R Block during the 2nd quarter valued at $620,000. Canada Pension Plan Investment Board boosted its position in H&R Block by 24.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 65,000 shares of the company’s stock worth $2,072,000 after purchasing an additional 12,800 shares during the period. Bank of Nova Scotia boosted its position in H&R Block by 20.7% during the 2nd quarter. Bank of Nova Scotia now owns 17,199 shares of the company’s stock worth $548,000 after purchasing an additional 2,954 shares during the period. Kendall Capital Management purchased a new stake in H&R Block during the 2nd quarter worth $203,000. Finally, Victory Capital Management Inc. boosted its position in H&R Block by 0.7% during the 2nd quarter. Victory Capital Management Inc. now owns 406,468 shares of the company’s stock worth $12,954,000 after purchasing an additional 2,629 shares during the period. 90.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HRB. StockNews.com raised shares of H&R Block from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Barrington Research upped their price target on shares of H&R Block from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th.

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H&R Block Stock Performance

Shares of HRB stock opened at $47.74 on Friday. H&R Block, Inc. has a 12 month low of $28.83 and a 12 month high of $49.14. The company has a debt-to-equity ratio of 46.44, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $6.87 billion, a P/E ratio of 13.60, a P/E/G ratio of 0.90 and a beta of 0.65. The company’s fifty day moving average price is $46.83 and its two-hundred day moving average price is $42.08.

H&R Block (NYSE:HRB – Get Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($1.05) EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.08. H&R Block had a net margin of 16.07% and a negative return on equity of 244.61%. The firm had revenue of $183.80 million for the quarter, compared to analyst estimates of $182.06 million. During the same quarter in the previous year, the business posted ($0.99) EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts anticipate that H&R Block, Inc. will post 4.2 earnings per share for the current fiscal year.

H&R Block Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Tuesday, December 5th were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, December 4th. This represents a $1.28 dividend on an annualized basis and a yield of 2.68%. H&R Block’s dividend payout ratio is currently 36.47%.

Insiders Place Their Bets

In other news, CFO Tony G. Bowen sold 46,892 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.10, for a total value of $2,208,613.20. Following the sale, the chief financial officer now owns 125,591 shares in the company, valued at approximately $5,915,336.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by company insiders.

H&R Block Profile

(Free Report)

H&R Block, Inc, through its subsidiaries, provides assisted income tax return preparation and do-it-yourself (DIY) tax return preparation services and products to the general public primarily in the United States, Canada, and Australia. It offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or its franchisees.

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As an enthusiast and expert in financial markets, particularly in the domain of institutional investment and stock analysis, I bring a wealth of knowledge and experience to the discussion. I have a proven track record of understanding market dynamics, financial instruments, and the strategies employed by institutional investors.

The recent article posted by MarketBeat News on January 28th, 2024, delves into the California Public Employees Retirement System's (CalPERS) increased stake in H&R Block, Inc. (NYSE: HRB) during the 3rd quarter, as per the Securities & Exchange Commission filing. CalPERS, a major institutional investor, augmented its holdings by 5.4%, acquiring an additional 14,747 shares, bringing its total ownership to 287,610 shares valued at $12,384,000.

Furthermore, the article highlights other institutional investors making changes to their positions in H&R Block. Mirae Asset Global Investments, Canada Pension Plan Investment Board, Bank of Nova Scotia, Kendall Capital Management, and Victory Capital Management Inc. all adjusted their stakes in the 2nd quarter, contributing to a total of 90.89% of the stock being owned by hedge funds and institutional investors.

The article also features insights from Wall Street analysts, with StockNews.com upgrading H&R Block from a "hold" to a "buy" rating, and Barrington Research increasing the stock's price target from $44.00 to $48.00, accompanied by an "outperform" rating.

Moving on to H&R Block's stock performance, it opened at $47.74 on the reported date. The company's 12-month low was $28.83, and the 12-month high was $49.14. The financial metrics include a debt-to-equity ratio of 46.44, a current ratio and quick ratio both standing at 0.80. The market capitalization is $6.87 billion, with a P/E ratio of 13.60 and a beta of 0.65.

In terms of financial results, H&R Block reported ($1.05) EPS for the last quarter, surpassing analysts' consensus estimates of ($1.13) by $0.08. The net margin was 16.07%, and the company had a negative return on equity of 244.61%. The revenue for the quarter was $183.80 million, slightly above analyst estimates.

The article also notes H&R Block's dividend announcement, with a quarterly dividend of $0.32, paid on January 4th, 2024, representing an annualized dividend of $1.28 and a yield of 2.68%. The dividend payout ratio is currently 36.47%.

In terms of insider trading, CFO Tony G. Bowen sold 46,892 shares at an average price of $47.10, totaling $2,208,613.20. This sale reduced his stake, leaving him with 125,591 shares valued at approximately $5,915,336.10.

To provide additional context, H&R Block is engaged in providing assisted income tax return preparation and do-it-yourself (DIY) tax return preparation services and products primarily in the United States, Canada, and Australia. The company operates retail offices and franchises, offering a range of tax-related services.

For those interested in a more comprehensive view of H&R Block's stock holdings, one can explore the latest 13F filings and insider trades on HoldingsChannel.com.

In conclusion, this detailed analysis covers various aspects of H&R Block's recent developments, institutional investments, analyst opinions, stock performance, financial metrics, dividends, and insider trading, providing a comprehensive understanding of the company's current standing in the market.