Acadian Asset Management LLC decreased its stake in H & R Block Inc (NYSE:HRB) by 44.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,905 shares of the company’s stock after selling 84,633 shares during the quarter. Acadian Asset Management LLC owned approximately 0.05% of H & R Block worth $2,778,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of HRB. BlackRock Inc. boosted its stake in shares of H & R Block by 20.5% in the second quarter. BlackRock Inc. now owns 25,588,346 shares of the company’s stock worth $582,902,000 after buying an additional 4,356,920 shares during the last quarter. Millennium Management LLC boosted its stake in shares of H & R Block by 2,092.5% in the second quarter. Millennium Management LLC now owns 3,162,665 shares of the company’s stock worth $72,046,000 after buying an additional 3,018,414 shares during the last quarter. Mackay Shields LLC boosted its stake in shares of H & R Block by 475.4% in the second quarter. Mackay Shields LLC now owns 1,211,236 shares of the company’s stock worth $27,592,000 after buying an additional 1,000,724 shares during the last quarter. Unigestion Holding SA purchased a new stake in shares of H & R Block in the second quarter worth about $17,847,000. Finally, Scout Investments Inc. raised its holdings in H & R Block by 71.9% in the 2nd quarter. Scout Investments Inc. now owns 1,414,965 shares of the company’s stock worth $32,233,000 after purchasing an additional 591,662 shares during the period. Hedge funds and other institutional investors own 94.64% of the company’s stock.
HRB has been the subject of a number of analyst reports. Zacks Investment Research raised H & R Block from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Wednesday, October 3rd. Barrington Research reaffirmed a “buy” rating and issued a $27.00 price target on shares of H & R Block in a report on Thursday, August 23rd. Morgan Stanley reduced their price target on H & R Block from $27.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, August 29th. Finally, ValuEngine raised H & R Block from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. H & R Block currently has an average rating of “Hold” and an average target price of $25.67.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.57%. H & R Block’s payout ratio is currently 33.56%.
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H & R Block Profile
H&R Block, Inc engages in the provision of tax preparation and other services. It offers assisted and do-it-yourself tax return preparation solutions through multiple channels and distribute the H&R block-branded financial products and services, including those of its financial partners, to the general public primarily in the United States, Canada, and Australia.
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