Bank of New York Mellon Corp Takes Position in H&R Block, Inc. $HRB

Bank of New York Mellon Corp bought a new stake in shares of H&R Block, Inc. (NYSE:HRB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,476,375 shares of the company’s stock, valued at approximately $56,220,000.

A number of other hedge funds have also recently bought and sold shares of HRB. Elevation Wealth Partners LLC boosted its position in shares of H&R Block by 34.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,040 shares of the company’s stock valued at $40,000 after purchasing an additional 267 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of H&R Block by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 46,171 shares of the company’s stock worth $2,335,000 after purchasing an additional 286 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in H&R Block by 1.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 22,496 shares of the company’s stock valued at $980,000 after purchasing an additional 309 shares during the last quarter. Vise Technologies Inc. lifted its stake in H&R Block by 7.4% during the third quarter. Vise Technologies Inc. now owns 4,486 shares of the company’s stock valued at $227,000 after purchasing an additional 311 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in H&R Block by 54.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 895 shares of the company’s stock worth $34,000 after buying an additional 314 shares in the last quarter. 90.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HRB has been the topic of several recent research reports. Weiss Ratings upgraded shares of H&R Block from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Zacks Research lowered H&R Block from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Barrington Research lifted their target price on H&R Block from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Stephens started coverage on H&R Block in a research report on Tuesday, July 28th. They set an “equal weight” rating and a $47.00 target price on the stock. Finally, The Goldman Sachs Group upped their target price on H&R Block from $29.00 to $33.00 and gave the company a “sell” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.67.

H&R Block Stock Performance

HRB stock opened at $52.53 on Thursday. The firm has a 50 day simple moving average of $43.50 and a 200 day simple moving average of $36.84. H&R Block, Inc. has a 52 week low of $28.16 and a 52 week high of $58.67. The stock has a market cap of $6.66 billion, a P/E ratio of 9.18, a P/E/G ratio of 0.69 and a beta of 0.34. The company has a debt-to-equity ratio of 12.69, a quick ratio of 1.13 and a current ratio of 1.13.

H&R Block (NYSE:HRB) last released its quarterly earnings data on Tuesday, August 11th. The company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.17. H&R Block had a net margin of 18.59% and a negative return on equity of 214.84%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $2.27 EPS. The company’s revenue for the quarter was up 255.5% compared to the same quarter last year. H&R Block has set its FY 2027 guidance at 6.040-6.240 EPS. Research analysts anticipate that H&R Block, Inc. will post 6.14 earnings per share for the current fiscal year.

H&R Block Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Thursday, September 3rd will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from H&R Block’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, September 3rd. H&R Block’s dividend payout ratio (DPR) is currently 29.37%.

About H&R Block

H&R Block (NYSE: HRB) is a leading provider of tax preparation services and software solutions, serving individual and small-business clients through a combination of retail offices, online platforms and mobile applications. The company offers assisted tax preparation at its network of retail offices, where clients work with trained tax professionals, as well as do-it-yourself (DIY) software and online filing services designed to guide users through the complexities of federal and state tax returns.

Founded in 1955 by brothers Henry W.