MOKAN Wealth Management Inc. Sells 850 Shares of H&R Block, Inc. (NYSE:HRB)

MOKAN Wealth Management Inc. cut its position in shares of H&R Block, Inc. (NYSE:HRB) by 12.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 6,158 shares of the company’s stock after selling 850 shares during the period. MOKAN Wealth Management Inc.’s holdings in H&R Block were worth $338,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in HRB. CIBC Asset Management Inc raised its holdings in H&R Block by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 4,263 shares of the company’s stock valued at $225,000 after buying an additional 222 shares during the last quarter. US Bancorp DE raised its position in shares of H&R Block by 1.9% in the 4th quarter. US Bancorp DE now owns 12,358 shares of the company’s stock worth $653,000 after acquiring an additional 233 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in H&R Block by 3.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 6,909 shares of the company’s stock valued at $365,000 after buying an additional 259 shares during the period. Bank of Nova Scotia boosted its stake in H&R Block by 4.4% during the fourth quarter. Bank of Nova Scotia now owns 6,170 shares of the company’s stock worth $326,000 after acquiring an additional 261 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in shares of H&R Block by 11.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,646 shares of the company’s stock worth $144,000 after buying an additional 263 shares during the last quarter. 90.14% of the stock is owned by hedge funds and other institutional investors.

H&R Block Stock Down 0.8%

Shares of HRB stock opened at $54.91 on Wednesday. The stock has a market cap of $7.35 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 0.85 and a beta of 0.25. The business has a 50-day simple moving average of $58.16 and a 200-day simple moving average of $55.55. H&R Block, Inc. has a 52-week low of $49.16 and a 52-week high of $68.45.

H&R Block (NYSE:HRB) last released its quarterly earnings data on Wednesday, May 7th. The company reported $5.38 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the prior year, the firm posted $4.94 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side 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 announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Wednesday, June 4th. H&R Block’s payout ratio is 36.76%.

Insider Activity at H&R Block

In other news, CEO Jeffrey J. Jones II sold 53,810 shares of the company’s stock in a transaction 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 now directly owns 844,790 shares in the company, valued at approximately $53,458,311.20. This represents a 5.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on HRB. Barrington Research reiterated an “outperform” rating and set a $70.00 target price on shares of H&R Block in a research note on Friday, April 25th. Northcoast Research downgraded H&R Block from a “buy” rating to a “neutral” rating in a research report 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, The Goldman Sachs Group lifted their price objective on shares of H&R Block from $49.00 to $54.00 and gave the company a “sell” rating in a research report on Thursday, May 8th.

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.